VANCOUVER, Jan. 5, 2016 – Cardiome Pharma Corp. (NASDAQ: CRME / TSX: COM) today announced that one of its subsidiaries has entered into an agreement with Chong Kun Dang Pharmaceuticals (“CKD”) to commercialize BRINAVESS® (vernakalant HCl) in South Korea. CKD will be responsible for obtaining the regulatory approval required to commercialize BRINAVESS in South Korea. Cardiome will receive an undisclosed upfront payment and is eligible to receive regulatory milestone payments. CKD has agreed to minimum annual commercial targets for BRINAVESS. Other details of the agreement have not been disclosed.
“Cardiome is excited to enter into this BRINAVESS commercialization agreement with CKD,” said Hugues Sachot, Cardiome’s Senior VP. “Korea boasts a rapidly growing pharmaceutical market led by companies such as CKD and we are fortunate to be working with them. Cardiome remains committed to making BRINAVESS available worldwide to treat patients suffering from recent-onset atrial fibrillation.”