Cardiome Pharma Corp. (NASDAQ: CRME / TSX: COM) today announced that its subsidiary, Cardiome International AG, has entered into an agreement with Algorithm S.A.L., headquartered in Beirut, Lebanon, to sell and distribute BRINAVESS™ (vernakalant intravenous) exclusively in certain Middle Eastern and North African countries. Under the terms of the agreement, Algorithm has agreed to specific annual commercial goals for BRINAVESS. Financial details of the agreement have not been disclosed.
"We are pleased to have entered into this commercialization agreement with Algorithm, a highly respected company with an impressive track record in partnering with other pharma industry leaders," said Karim Lalji, Cardiome's Chief Commercial Officer. "We look forward to continuing the commercialization of BRINAVESS in approved markets and leveraging Algorithm's expertise in gaining approvals in new ones."
"Algorithm is excited to be working with Cardiome to sell and distribute BRINAVESS," said Nabil Ghorayeb, Human Health Lead, at Algorithm. "Our company has a long and successful history in the cardiovascular market, and BRINAVESS is an excellent addition to our product portfolio that will offer our customers a treatment option for the rapid conversion of recent onset atrial fibrillation."