Cardiome Receives Approval To Commence Phase II Study.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 19, 2001

Cardiome Pharma Corp. (the "Company") (OTCBB:COMTF) (TSE:COM.) announced today that it has received approval from the U.S. FDA and Canadian Therapeutic Product Directorate (TPD) to begin a Phase II study of RSD1235, a novel candidate for the treatment of atrial fibrillation (AF).

The approvals followed submission of IND (Investigational New Drug) applications in both the US and Canada.

"This is a landmark study in our antiarrhythmic development programme," said Dr. Alan Ezrin, Cardiome's Chief Scientific Officer. "We are pleased to have authorization to begin this study, and to be working with globally recognized cardiologists in several centres in both Canada and the US." Dr. Denis Roy of the Montreal Heart Institute and Dr. Bramah Singh of the UCLA School of Medicine serve as co-chairs for the study steering committee.

The 60-patient Phase II trial is a randomized, placebo-controlled, double-blind, step-dose study in patients with recent onset atrial fibrillation. The primary end point will be conversion of atrial fibrillation within 30 minutes of infusion. The Company has engaged a contract clinical research organization, CroMedica Global Inc., to oversee the study in up to 20 centres in the U.S. and Canada. Enrolment of patients will commence in November 2001. The study is expected to be completed within six months, with final results due in Q3, 2002.

"This trial is designed to provide unequivocal evidence regarding the effectiveness of our drug candidate," added Dr. Ezrin. "If RSD1235 meets our expectations, it will revolutionize the management of patients with AF."

Atrial fibrillation is a condition in which the atria or storage chambers of the heart beat rapidly and erratically. Left untreated, the condition can cause stroke or ultimately, congestive heart failure. Approximately 7.6 million patients in the developed world (US, Europe, Japan) suffer occasionally or chronically from atrial fibrillation. About 3.2 million acute cases are reported each year in the developed world. It is estimated that the market for an IV drug to treat such acute cases approaches US$300 million per year while chronic oral dosing of RSD1235 in an extended release form could access a market estimated at approximately US$3 billion.

Cardiome Pharma Corp. is a cardiac drug discovery and development company. Its current focus is on prevention and treatment of cardiac arrhythmia, with three programs in that area. In addition to the RSD1235 acute-use program, Cardiome's RSD1122 program is focused on a chronic use antiarrhythmic. RSD1122 is licensed to AstraZeneca, one of the world's largest pharmaceutical companies. Cardiome's Kv1.5 program, also focused on treatment of atrial arrhythmia, is in the pre-clinical phase. The Company is based at the University of British Columbia in Vancouver, and is traded on The Toronto Stock Exchange (COM) and the NASD BB market (COMTF).

On Behalf of the Board

Robert Rieder, President & Chief Executive Officer

The foregoing news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the company, or industry results, to be materially different

from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Company's annual report on Form 20-F. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.