Fennec Pharmaceuticals
Fennec Pharmaceuticals focuses on improving the lives of children with cancer by reducing the risk of hearing loss caused by cisplatin-based chemotherapy, with their FDA-approved therapy PEDMARK® and European-approved PEDMARQSI®.
Fennec Pharmaceuticals Overview
Fennec Pharmaceuticals is dedicated to improving the lives of children with cancer who experience hearing loss as a result of chemotherapy. The company's primary focus is on reducing the risk of ototoxicity in pediatric patients receiving cisplatin-based chemotherapy. Headquartered at 68 TW Alexander Drive, Research Triangle Park, NC 27709, Fennec Pharmaceuticals aims to address the serious side effects of chemotherapy to enhance the quality of life for young patients.
Fennec Pharmaceuticals Products
The flagship product of Fennec Pharmaceuticals is PEDMARK®, the first and only FDA-approved therapy to reduce the risk of ototoxicity associated with cisplatin treatment in pediatric patients with localized, non-metastatic solid tumors. PEDMARK® received FDA approval in September 2022 and has been granted Orphan Drug Exclusivity in the U.S. for seven years of market protection. Another key product, PEDMARQSI®, received European Commission Marketing Authorization in June 2023 and U.K. approval in October 2023. It also has Pediatric Use Marketing Authorization in Europe, providing eight years plus two years of data and market protection.
Fennec Pharmaceuticals Services
Fennec Pharmaceuticals offers a range of services that include a Compassionate Use Program in Turkey for newly diagnosed hepatoblastoma, initiated on October 21, 2019. The company also supports multiple clinical trials, such as ACNS2031 for newly diagnosed average risk medulloblastoma and STS J-01 for newly diagnosed solid tumors. These trials are integral to developing new treatments and improving existing therapies to better serve their patient population.
Fennec Pharmaceuticals Financial Performance
In the first quarter of 2024, Fennec Pharmaceuticals reported total net revenues of $25.4 million, including $18.0 million in licensing revenue from its agreement with Norgine. Net product sales for this period totaled $7.4 million. The company has approximately $51 million in cash, cash equivalents, and investment securities as of the first quarter of 2024. This financial stability positions the company well for future growth and development.
Fennec Pharmaceuticals Partnerships and Agreements
Fennec Pharmaceuticals entered into an exclusive licensing agreement with Norgine to commercialize PEDMARQSI® in Europe, Australia, and New Zealand. This agreement provided Fennec with approximately €40 million upfront and up to €210 million in additional commercial and regulatory milestone payments, helping to expand the reach of their innovative therapies on a global scale.