Cardiome links with Eddingpharm for Brinavess in China

Canadian drugmaker Cardiome Pharma (TSX: COM) has entered into an agreement with Chinese firm Eddingpharm to develop and commercialize Brinavess (vernakalant intravenous) in China, Taiwan, and Macau and re-launch the drug in Hong Kong.

Eddingpharm will be responsible for any clinical trials and regulatory approvals required to commercialize Brinavess, a treatment for chronic atrial fibrillation, in the countries covered by the agreement. Under the terms of the agreement, Eddingpharm has agreed to an upfront payment of $1.0 million and specific annual commercial goals for Brinavess. Cardiome is also eligible to receive regulatory milestone payments of up to $3.0 million. Other financial details have not been disclosed.

China has significant market opportunity