Omeros Corporation Settles Litigation with Carolina Casualty Insurance for $12.5 Million
Omeros Corporation has reached a settlement with Carolina Casualty Insurance Company regarding litigation involving its former CFO. The agreement includes a $12.5 million payment to Omeros by October 25, 2013. CEO Gregory Demopulos released his claims without receiving funds, directing all proceeds to Omeros. The company aims to advance its pipeline and report clinical data from OMS824 and OMS721 programs, with plans for OMS302's launch in 2014.
Omeros Corporation has settled litigation with Carolina Casualty Insurance Company, which concerns defense and coverage obligations related to prior litigation with Omeros' former CFO. The settlement entails a payment of $12.5 million to Omeros, due by October 25, 2013, and includes a mutual release of claims.
AI-curated by TheiaCEO Gregory Demopulos has waived his share of the settlement proceeds in favor of Omeros. The company plans to advance its product pipeline and report further clinical data from its OMS824 and OMS721 programs, anticipating the launch of OMS302 in 2014.
Comments