According to the agreement, Omeros is responsible for clinical and commercial milestone payments to Asubio. Omeros would also pay a single-digit royalty to Asubio upon potential sale of the products named in the agreement.
Omeros has demonstrated a previously unknown link between phosphodiesterase-7 (PDE7) and movement disorders such as Parkinson’s disease and Restless Legs Syndrome. The company believes that this agreement with Asubio gives it an hastened path to the clinic by providing advanced preclinical product candidates that are ready for additional toxicology studies in preparation for a Phase 1 clinical trial.
Gregory Demopulos, chairman and CEO of Omeros, said: “We are pleased to have accessed these PDE7 inhibitors. Omeros has already conducted successful preclinical studies with them, and has identified which in-licensed candidate we plan to move forward into clinical trials.
“We expect that our first clinical program will target Parkinson’s disease and, assuming continued preclinical progress, that we will be able to file an investigational new drug (IND) application to begin a Phase 1 clinical trial in 2011.”