Omeros Corporation has announced the closing of the asset sale and licensing transaction with Novo Nordisk for the candidate drug Zaltenibart (formerly OMS906). The transaction has brought in significant financial gains for Omeros, including an upfront cash payment of $240.0 million and potential further payments of up to $2.1 billion, along with tiered royalties on net sales.
Additionally, Omeros has prepaid the entire $67.1 million principal amount outstanding under its senior secured term loan, resulting in the termination of the senior secured credit agreement and the release in full of all liens and covenants thereunder, including the $25.0 million minimum liquidity covenant.
The remaining proceeds from the closing payment are expected to be sufficient to repay the remaining $17.1 million principal balance on its 2026 convertible notes and fund more than 12 months of operations, including the anticipated U.S. launch of Narsoplimab for the treatment of transplant-associated thrombotic microangiopathy (TA-TMA).
Zaltenibart, an investigational humanized monoclonal antibody targeting MASP-3, has shown potential applications across a broad range of therapeutic areas and indications, including paroxysmal nocturnal hemoglobinuria (PNH), renal diseases, and other immune and complement-driven disorders.
Omeros retains rights to its MASP-3 small-molecule program unrelated to Zaltenibart, allowing for the development and commercialization of small-molecule MASP-3 inhibitors with limited restrictions on indications.
This transaction marks a significant milestone for Omeros, providing substantial financial resources and strategic positioning for the future development and commercialization of their pipeline, which includes Narsoplimab, OMS1029, and OMS527, among others. Today the company's shares have moved 0.62% to a price of $9.69. Check out the company's full 8-K submission here.
