Date Closed

July 25, 2008

Lead Office

Vancouver

Value

25.00 Million USD

On July 25, 2008, pursuant to a non-brokered private placement, Cardiome issued 2,272,727 Series A Preferred Shares to CR Intrinsic Investments, LLC, an investment fund managed by CR Intrinsic Investors, LLC, an affiliate of S.A.C. Capital Advisors, LLC, at a price of $11.00 US per share for gross proceeds of $24,999,997 US. Subject to certain timing restrictions, the preferred shares will be convertible into common shares of Cardiome on a 1-to-1 basis. Proceeds of the financing will be used for general corporate purposes, costs associated with the ongoing strategic process and continued development of Cardiome’s clinical programs.

McCarthy Tétrault advised Cardiome with a team that was led by Joseph Garcia.