Benzinga | Dec 2, 2021 07:33AM EST

Omeros Announces Agreement To Sell OMIDRIA Franchise To Rayner Surgical In A Transaction Valued In Excess Of $1B

* $125 million upfront payment and $200 million on achievement of commercial milestone

* Royalties of 50% on U.S. net sales until the earlier of either January 1, 2025 or payment of the $200-million milestone, after which royalties adjust to 30% of U.S. net sales

* Royalties of 15% on ex-U.S. net sales

* OMIDRIA to become a premier product in Rayner's ophthalmology franchise In addition to acquiring the OMIDRIA commercial organization, including the current OMIDRIA sales force, Rayner plans to further expand its U.S. and ex-U.S. sales forces