Omeros buys local biotech Nura

Omeros, a private Seattle biotech company, has acquired another private local biotech company, Nura. Terms of the acquisition, announced Thursday, were not disclosed.

Omeros, which is running pivotal clinical trials of a treatment for inflammation in arthroscopic knee surgery, received an undisclosed sum from Nura's investors: Arch Venture Partners, Aravis and Novartis Venture Funds.

Omeros Chief Executive Gregory Demopulos said the company has raised $53 million in a fifth round of capital. It has about 50 employees.

Nura, which has been studying schizophrenia and other neurological diseases in animals, raised its most recent round of capital, $9.5 million, two years ago.

Its scientific team of 14 employees, including Chief Scientific Officer George Gaitanaris, will join Omeros, but CEO Patrick Gray will not.

Demopulos said Omeros wants to combine Nura's early-stage research with his company's strength in later-stage clinical development.

Omeros hopes to finish enrollment of its pivotal trials in the first half of 2007, move two more drug candidates into human tests next year and possibly go public within 18 months, Demopulos said.

Robert Nelsen, managing director with Arch Venture Partners in Seattle, said the investors backed the merger for two main reasons: Omeros can help advance Nura's early research, and they think they "can get earlier access to the public markets."

Luke Timmerman: 515-5644 or ltimmerman@seattletimes.com