08:03 AM EST, 02/07/2025 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) on Friday said Norgine Pharmaceuticals has commercially launched Pedmarqsi (sodium thiosulfate injection) in Germany.

Fennec, which last March granted Norgine the right to commercialize Pedmarqsi in Europe, Australia and New Zealand, received $43 million in an upfront payment. It will also receive up to $230 million in commercial and regulatory milestone payments along with double-digit tiered royalties on net sales of Pedmarqsi.

Fennec's Pedmarqsi is formulated to help prevent permanent hearing loss (ototoxicity) in paediatric patients undergoing platinum-based chemotherapy. Data from two Phase 3 trials showed a 50% reduction in cisplatin-induced ototoxicity in patients treated with cisplatin and sodium thiosulfate, compared with those treated with cisplatin alone, according to a statement.

The company's shares were last seen down US$0.22, to US$6.44, in New York trading.