Cardiome to Acquire Correvio LLC

Vancouver, British Columbia And Geneva (ots/PRNewswire) -

- Company to host webcast and conference call today at 5:00 p.m.
EST -

NASDAQ: CRME TSX: COM

Cardiome Pharma Corp. today announced that it has completed the
acquisition of Correvio LLC ("Correvio"), a privately held
pharmaceutical company headquartered in Geneva, Switzerland. Key
benefits of the transaction include the following:

- Accelerates Cardiome's launch of BRINAVESS(TM) (vernakalant IV) and its
transformation into a global commercial organization positioned for future growth
- Correvio is an EBITDA positive, European, specialty pharmaceutical company
selling Aggrastat(R) (tirofiban HCL) to cardiologists in over 60 countries worldwide
with annual revenues of US$30+ million
- Brings together two highly complementary, in-hospital, intravenous, cardiology
products sold through a direct sales force in Europe and via specialty distributors
elsewhere
- Reduces BRINAVESS build out costs and shortens the time to profitability by
providing an established operational and financial infrastructure with significant
operating cost synergies
- Transaction expected to be accretive immediately

"The acquisition of Correvio markedly accelerates Cardiome's
recent transformation from a research and development-based company
to an integrated, commercial, specialty pharmaceutical company. The
Correvio acquisition fulfills many of our immediate strategic needs
by providing an operational European platform, global distribution,
complementary products and the financial flexibility required to
accelerate the launch of BRINAVESS," stated William Hunter, M.D.,
Cardiome's president and CEO. "The cash contribution from synergistic
sales of AGGRASTAT will lessen our reliance on external financing by
providing low cost, ongoing funding while also shortening our road to
profitability."

"We have worked hard over the years to build a scalable
infrastructure to successfully promote and support AGGRASTAT sales
worldwide," stated Bert Van Den Bergh, chairman of Correvio. "It's
exciting to see a growing product like BRINAVESS able to leverage off
of our existing hospital-based, cardiology platform and capitalize on
significant operational efficiencies."

Under the terms of the agreement, Cardiome has acquired 100% of
Correvio through the purchase of a combination of assets and shares
of its subsidiaries in exchange for 19.9% of Cardiome's outstanding
shares (proforma ownership of approximately 16.6%) and a deferred
cash consideration of US$12 M. The deferred cash consideration will
be repaid monthly at an amount equal to 10% of cash receipts from
product sales and any applicable interest accrued at 10% compounded
annually. The adjusted deferred cash consideration must be repaid in
full by December 1, 2019.

Conference Call

Cardiome will hold a teleconference and webcast to discuss the
acquisition of Correvio at 5:00pm EST (2:00pm Pacific) on Monday,
November 18th, 2013. To access the conference call, please dial (416)
764-8688 or (888) 390-0546 and use Conference ID: 08404139. The
webcast can be accessed through Cardiome's website at
http://www.cardiome.com. Webcast and telephone replays of the
conference call will be available approximately two hours after the
completion of the call through December 16, 2013. Please dial
416-764-8677 or 888-390-0541 and enter code 404139 to access the
replay.

About Aggrastat(R) AGGRASTAT (tirofiban HCl) is a reversible GP
IIb/IIIa inhibitor indicated for use in Acute Coronary Syndrome
patients. The GP IIIb/IIa receptor is found on the platelet surface
and is involved in platelet aggregation. AGGRASTAT prevents
fibrinogen from binding to the GP IIbIIIa receptor, thus blocking
platelet aggregation. On October 9, 2013 the German regulatory agency
BfArM, acting as the Reference Member State in the European Mutual
Recognition Procedure (MRP), gave an approval on the indication
statement for AGGRASTAT to include the reduction of major
cardiovascular events in patients with acute myocardial infarction
(STEMI) intended for primary PCI. Cardiome will support expansion of
the AGGRASTAT label in other markets to also include use in STEMI
patients.

About Cardiome Pharma Corp Cardiome Pharma Corp. is a specialty
biopharmaceutical company dedicated to the discovery, development and
commercialization of new therapies that will improve the health of
patients suffering from heart disease around the world. Cardiome has
one marketed product, BRINAVESS[TM] (vernakalant IV), approved in
Europe and other territories for the rapid conversion of recent onset
atrial fibrillation to sinus rhythm in adults.

Cardiome is traded on the NASDAQ Capital Market (CRME) and the
Toronto Stock Exchange (COM). For more information, please visit
http://www.cardiome.com.

About Correvio Correvio specializes in critical care with a deep
understanding of interventional cardiology. Our business approach is
to partner with healthcare professionals to help find the best
therapeutic solution for their patients. In this context, we measure
our success with Aggrastat(R) according to the number of Major
Adverse Cardiac Events (MACE) prevented. Our Medical Information
Centre (MIC) is available 24/7/365 to provide medical information
support. For additional information about Correvio please visit
http://www.correvio.com.

Forward-Looking Statement Disclaimer Certain statements in this
news release contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 or
forward-looking information under applicable Canadian securities
legislation that may not be based on historical fact, including
without limitation statements containing the words "believe", "may",
"plan", "will", "estimate", "continue", "anticipate", "intend",
"expect" and similar expressions. Forward- looking statements may
involve, but are not limited to, comments with respect to our
objectives and priorities for the remainder of 2013 and beyond, our
strategies or future actions, our targets, expectations for our
financial condition and the results of, or outlook for, our
operations, research and development and product and drug
development. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, events or developments to be materially different
from any future results, events or developments expressed or implied
by such forward-looking statements. Many such known risks,
uncertainties and other factors are taken into account as part of our
assumptions underlying these forward-looking statements and include,
among others, the following: general economic and business conditions
in the United States, Canada, Europe, and the other regions in which
we operate; market demand; technological changes that could impact
our existing products or our ability to develop and commercialize
future products; competition; existing governmental legislation and
regulations and changes in, or the failure to comply with,
governmental legislation and regulations; availability of financial
reimbursement coverage from governmental and third-party payers for
products and related treatments; adverse results or unexpected delays
in pre-clinical and clinical product development processes; adverse
findings related to the safety and/or efficacy of our products or
products; decisions, and the timing of decisions, made by health
regulatory agencies regarding approval of our technology and
products; the requirement for substantial funding to expand
commercialization activities; and any other factors that may affect
our performance. In addition, our business is subject to certain
operating risks that may cause any results expressed or implied by
the forward-looking statements in this presentation to differ
materially from our actual results. These operating risks include:
our ability to attract and retain qualified personnel; our ability to
successfully complete pre-clinical and clinical development of our
products; changes in our business strategy or development plans;
intellectual property matters, including the unenforceability or loss
of patent protection resulting from third-party challenges to our
patents; market acceptance of our technology and products; our
ability to successfully manufacture, market and sell our products;
the availability of capital to finance our activities; and any other
factors described in detail in our filings with the Securities and
Exchange Commission available at http://www.sec.gov and the Canadian
securities regulatory authorities at http://www.sedar.com. Given
these risks, uncertainties and factors, you are cautioned not to
place undue reliance on such forward-looking statements and
information, which are qualified in their entirety by this cautionary
statement. All forward-looking statements and information made herein
are based on our current expectations and we undertake no obligation
to revise or update such forward-looking statements and information
to reflect subsequent events or circumstances, except as required by
law.

For further information:

Cardiome Investor Relations
+1(604) 676-6993 or Toll Free: 1-800-330-9928
Email: ir@cardiome.com
Investor Contact:
Westwicke Partners, LLC
Robert H. Uhl
Managing Director
+1(858)356-5932
robert.uhl@westwicke.com

ots Originaltext: Cardiome Pharma Corp.
Im Internet recherchierbar: http://www.presseportal.de