A Seat­tle biotech of­floads lead eye drug in deal val­ued at $1B+ as it re­fo­cus­es on emerg­ing pipeline

An FDA-ap­proved drug used to main­tain pupil size in pa­tients dur­ing cataract surgery and re­duce post­op­er­a­tive eye pain has been sold to Rayn­er Sur­gi­cal in a deal that could ex­ceed $1 bil­lion af­ter mile­stones.

Seat­tle-based Omeros sold eye drug Omidria for an up­front pay­ment of $125 mil­lion, with an­oth­er $200 mil­lion in com­mer­cial mile­stone pay­ments and an­oth­er $34 mil­lion that comes with an ac­counts re­ceiv­able bal­ance. The sale will help Omeros se­cure a long-term fi­nan­cial stream, and al­low it to fo­cus on the rest of its cur­rent pipeline while cut­ting com­mer­cial costs.

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