Medical Device News Magazine

Tuesday, May 17, 2022

Ph: 561.316.3330

Home

Press Releases

About

Editorial

Advertise

Health/Lifestyle

Articles

Contact

MEDICAL DEVICE NEWS MAGAZINE

A DIGITAL PUBLICATION FOR THE PRACTICING MEDICAL SPECIALIST, INDUSTRY EXECUTIVE AND INVESTOR

Market Reports

FDA

Executives

Funding

Acquisitions

Non Profits

Hospitals

Subscribe

Biotechnology News Magazine

Newspaper Theme

Other News

Our Sister Publication

Omeros Completes Sale of OMIDRIA® Franchise to Rayner Surgical

Omeros Corporation (Nasdaq: OMER) today announced that it has completed the sale of OMIDRIA (phenylephrine and ketorolac intraocular solution) 1.0%/0.3% to Rayner Surgical Group Inc., an affiliate of Rayner Surgical Group Limited. The transaction was completed pursuant to an Asset Purchase Agreement that was announced on December 2, 2021.

Omeros received approximately $126 million in cash at closing. In addition, Omeros retains and is entitled to collect the full amount of its accounts receivable outstanding as of today’s closing. Omeros also is eligible to receive an additional $200 million in a commercial milestone payment. Together with substantial royalties to be paid by Rayner to Omeros on net sales of OMIDRIA, the transaction is valued in excess of $1 billion.

Rayner will pay Omeros royalties on both U.S. and ex-U.S. net sales of OMIDRIA. In the U.S., the royalty rate will be 50 percent of U.S. net sales until the earlier of either January 1, 2025 or payment of the $200-million commercial milestone, after which Omeros will receive royalties of 30 percent of U.S. net sales for the life of OMIDRIA’s U.S. patent estate. The commercial milestone payment is triggered if separate payment for OMIDRIA is secured for a continuous period of at least four years. Outside of the U.S., Omeros will receive a 15-percent royalty rate on OMIDRIA net sales throughout the applicable patent life on a country-by-country basis.

About

Medical Device News Magazine, (division of PTM Healthcare Marketing, Inc., is a digital publication reporting the latest medical device, clinical trials, product launches, funding, mergers/acquisitions and biotech/diagnostic industry news.

Happenings

By using this website you agree to accept Medical Device News Magazine Privacy Policy