Cardiome Pharma Corp. announced that its Chinese development and commercialization partner, Eddingpharm, plans to initiate a Phase 1 study for BRINAVESSTM to support regulatory approval in China. The study will be conducted in healthy volunteers. Other details of the study were not disclosed. If BRINAVESS successfully completes Phase 1, Eddingpharm anticipates initiating a pivotal Phase 3 study by year end.
Cardiome and Eddingpharm entered into a BRINAVESS development and commercialzation agreement in China, Taiwan, Macau and Hong Kong on December 19, 2014. Under the terms of the agreement, Eddingpharm made an upfront payment of US $1.0M to Cardiome and agreed to specific annual commercial goals for BRINAVESS. Cardiome is also eligible to receive regulatory milestone payments of up to US $3.0M. Other financial details have not been disclosed.
About Cardiome Pharma Corp.
Cardiome Pharma Corp. is a specialty pharmaceutical company dedicated to the development and commercialization of cardiovascular therapies that will improve the quality of life and health of patients suffering from heart disease. Cardiome has two marketed, in-hospital, cardiology products, BRINAVESSTM (vernakalant IV), approved in Europe and other territories for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults, and AGGRASTAT® (tirofiban HCl) a reversible GP IIb/IIIa inhibitor indicated for use in patients with acute coronary syndrome. Cardiome also commercializes Esmocard® and Esmocard Lyo® (esmolol hydrochloride), a short-acting beta-blocker used to control rapid heart rate in a number of cardiovascular indications, on behalf of their partner AOP Orphan Pharma in select European markets. Cardiome has also licensed TREVYENT, a development state drug device combination that is under development for Pulmonary Arterial Hypertension, for Europe, the Middle East and for Canadian markets.
Cardiome is traded on the NASDAQ Capital Market (CRME) and the Toronto Stock Exchange (COM). For more information, please visit our web site at www.cardiome.com.