Cardiome Completes US$58.6M Offering

Cardiome Pharma Corp., a life sciences company focused on developing proprietary drugs to treat or prevent cardiovascular diseases, recently completed a US$58.6 million cross-border MJDS public offering of common shares. The offering consisted of 9,775,000 common shares at an initial public offering price of US$6 per share (or the Canadian dollar equivalent of C$7.21). UBS Investment Bank and CIBC World Markets acted as joint book running managers for the offering. The syndicate of underwriters also included GMP Securities Ltd., Leerink Swann & Company, First Associates Investments Inc. and Orion Securities Inc. The transaction closed on March 23, 2005 and the exercise of the over-allotment option closed on March 30, 2005.

Cardiome was represented in Canada by Joseph Garcia, Richard Balfour, Orysia Semotiuk, Ranj Sangra, Salman Manki and Nazma Lee (business law), Linda Kurdydyk and Anita Nador (intellectual property), and Brent Kerr (tax) of McCarthy Tétrault LLP. Cardiome was represented in the US by Annette Elinger Becker and Devin Stockfish of Preston Gates & Ellis LLP. Karl Hermanns of Seed Intellectual Property Law Group PLLC acted as special intellectual property counsel, and Michael Labson and Lauren Soroka of Covington & Burling represented Cardiome as special regulatory counsel.

The underwriters were represented in the US by Kevin Kennedy, Deanna Chechile, James Evans and Jason Schendel of Simpson Thacher & Bartlett LLP; and in Canada by Neville McClure, Dee Rajpal and Jennifer MacGregor-Greer of Stikeman Elliott LLP.

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