Cardiome Says Partner Eddingpharm To Initiate BRINAVESS Phase I Study In China

(RTTNews) - Cardiome Pharma Corp. (CRME) said 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 expects to initiate 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 $1.0 million to Cardiome and agreed to specific annual commercial goals for BRINAVESS.

Cardiome is also eligible to receive regulatory milestone payments of up to $3 million. Other financial details have not been disclosed.