Fennec Pharmaceuticals Announces Closing of Private Offering of Common Shares in Canada

Core Points - Fennec Pharmaceuticals Inc. has closed a non-brokered offering of common shares in Canada at a price of US$7.50 per share, raising aggregate gross proceeds of US$5,025,000 [1][2] Group 1: Offering Details - The offering was made to prospective purchasers in Canada (excluding Quebec) under the listed issuer financing exemption, and the common shares are not subject to a hold period under Canadian securities laws [2][4] - The offering document related to this transaction can be accessed on the Company's profile at www.sedarplus.com and www.fennecpharma.com [3] Group 2: Company Overview - Fennec Pharmaceuticals is focused on combating ototoxicity in cancer patients receiving cisplatin-based chemotherapy, with its primary product being PEDMARK, which received FDA approval in September 2022 and European Commission approval in June 2023 [6][8] - PEDMARQSI, the brand name for PEDMARK in the U.K., received approval in October 2023, and the product is now commercially available in the U.K. and Germany following an exclusive licensing agreement with Norgine Pharmaceuticals Ltd. [7][8] Group 3: Regulatory and Market Position - PEDMARK has received Orphan Drug Exclusivity in the U.S., and PEDMARQSI has received Pediatric Use Marketing Authorization in Europe, providing significant market protection [8] - Fennec holds patents for PEDMARK that extend until 2039 in both the U.S. and internationally, enhancing its competitive position in the market [8]