Omeros, a Seattle-based drug discovery firm, is getting an injection of money from Washington State's Life Sciences Discovery Fund and local entrepreneur and billionaire Paul Allen, Xconomy reports. Omeros is trying to come up with therapeutics that bind G-protein coupled receptors — targets that have been deemed "undruggable" by many. "We see the Omeros GPCR technology as a major disruptive opportunity," says Steve Hall, who is the managing director of Allen's Vulcan Capital. Omeros is receiving $20 million from Vulcan and $5 million from the state fund. Under the terms of the deal, Xconomy says that both entities "will have skin in the game with Omeros" as they may receive a percentage of future profits and royalties.
HT: Fierce Biotech