Omeros Corp.
Client: Omeros Corp.
Sector: Biopharmaceutical
Transaction: Series E Preferred $63 million
Omeros is a late-stage biopharmaceutical company developing a broad intellectual property platform across a range of technologies. Broadmark first became involved with Omeros as an investor in an earlier round of financing. When Omeros engaged Broadmark to work on the Series E financing, Omeros sought to raise between $10 million and $20 million to support Phase 3 clinical trials for its lead product, OMS103HP. Because of the product's revolutionary nature - it could fundamentally change the way a type of medicine was practiced - it was quite challenging to market the investment opportunity. Broadmark worked with Omeros' management to create marketing materials and develop a message that would communicate the upside of the investment opportunity to both institutional and accredited individual investors. After closing on the first $20 million, there remained substantial demand from investors and additional business opportunities for the company to pursue. In consultation with Broadmark, Omeros decided to raise additional capital. In the first quarter of 2007, Omeros successfully closed on a $63M financing and has since filed an S-1 with Deutsche Bank for an IPO.