UPDATE 1-Cardiome gets $25 mln advance from Merck
* Advance to be repaid by Dec. 31, 2016
* Shares close down 2 percent
Feb 16 (Reuters) - Vancouver-based Cardiome Pharma Corp (COM.TO) (CRME.O) said it received $25 million in advance from an affiliate of U.S. drugmaker Merck & Co Inc (MRK.N) under a credit facility granted in 2009.
In April 2009, Merck licensed an experimental heart drug from Cardiome and granted it a secured, interest-bearing credit facility of up to $100 million. [ID: nN08548820]
The advance is expected to be repaid in full by December 31, 2016.
Shares of Cardiome closed down 2 percent at C$5.52 Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Anil D'Silva)
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