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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