CARDIOME PHARMA TO BUY PRIVATELY HELD U.S FIRM ARTESIAN THERAPEUTICS FOR US$32M

Cardiome Pharma Corp. has agreed to buy Artesian Therapeutics Inc., a privately held U.S. biopharmaceutical company, for a total of $32 million US. Gaithersburg, Md.-based Artesian researches and develops bi-functional small-molecule drugs for the treatment of cardiovascular disease. Under the terms of the proposed deal, payments to Artesian shareholders are contingent on the company meeting pre-defined clinical milestones totalling $32 million for the first two drug candidates from the Artesian programs that reach approval.

Canada.com (http://www.canada.com/health/story.html?id=500a1dd7-50f0-4310-b218-bb8f97717d05)