Merck advances $25 million to Cardiome

Cardiome Pharma (TSX:COM; NASDAQ:CRME) has tapped a $25 million (U.S.) advance from marketing partner Merck & Co. (NYSE:MRK) under a previously announced secured, interest-bearing credit facility of up to $100 million.

In a statement, Cardiome said it may, at its option, repay all or a portion of the advance from time to time without premium or penalty.  However, the advance must be repaid in full by Dec. 31, 2016.