Fennec Pharmaceuticals (NASDAQ:FENC; TSX:FRX) announced the commercial launch of PEDMARQSI sodium thiosulfate injection in Germany by Norgine Pharmaceuticals. The treatment is designed to prevent ototoxicity (permanent hearing loss) caused by cisplatin chemotherapy in pediatric patients aged one month to 18 years with solid tumors.
According to Fennec, the company entered into an exclusive licensing agreement with Norgine in March 2024 to commercialize PEDMARQSI in Europe, Australia, and New Zealand. Under the agreement, Fennec received approximately $43 million as an upfront payment and is eligible for up to $230 million in additional commercial and regulatory milestone payments, along with double-digit tiered royalties on net sales.
Jeff Hackman, CEO of Fennec, commented, “Until now, there have been no pharmacological interventions available to cancer patients in Germany to prevent ototoxicity, or permanent hearing loss, caused by treatment with cisplatin. We congratulate Norgine on making PEDMARQSI available to patients and healthcare providers in Germany and look forward to future launches in other major European markets.”
