Fennec Pharmaceuticals Inc., a commercial specialty pharmaceutical firm, has partnered with Norgine, a notable European pharmaceutical company. The collaboration has resulted in an exclusive licensing agreement enabling Norgine to distribute Pedmarqsi in Europe, Australia, and New Zealand.
Pedmarqsi is a certified therapy in the EU and U.K. designed to prevent ototoxicity, or hearing loss, triggered by cisplatin chemotherapy. This treatment is meant for patients aged between 1 month to less than 18 years who suffer from localized, non-metastatic solid tumors.
As part of this agreement, Fennec will receive an upfront payment of 40 million euros. Additionally, they could potentially earn up to 210 million euros based on achieving certain commercial and regulatory milestones, alongside double-digit tiered royalties on net sales of Pedmarqsi in the licensed regions until the mid-twenties.
Norgine is liable for all commercial activities in these licensed territories and will hold all marketing authorizations therein.
