05:32 AM EDT, 03/18/2024 (MT Newswires) -- Fennec Pharmaceuticals ( FENC ) and Norgine said Sunday that they have signed an exclusive licensing agreement to commercialize Pedmarqsi, which is intended for the prevention of hearing loss induced by cisplatin chemotherapy in patients one month to less than 18 years old with localized, non-metastatic solid tumors.
Under the agreement, Norgine will commercialize the drug in Europe, Australia and New Zealand. In exchange, Fennec will receive 40 million euros ($43.6 million) in upfront payment and up to 210 million euros in additional commercial and regulatory milestone payments, plus royalties on product sales.
Norgine will be responsible for all commercialization activities in the licensed areas and will hold all marketing authorization in them, the companies said.