Reported Sunday, Fennec Pharmaceuticals And Norgine Inked An Exclusive Licensing Agreement To Commercialize PEDMARQSI In Europe, Australia, And New Zealand
Portfolio Pulse from Benzinga Newsdesk
Fennec Pharmaceuticals and Norgine have entered into an exclusive licensing agreement for the commercialization of PEDMARQSI in Europe, Australia, and New Zealand. PEDMARQSI is the first approved therapy in these regions for reducing cisplatin-induced hearing loss in pediatric patients with localized, non-metastatic solid tumors. Fennec will receive €40 million upfront, up to €210 million in milestones, and tiered royalties. Norgine will handle all commercialization activities.
March 18, 2024 | 6:06 am
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Fennec Pharmaceuticals enters a lucrative deal with Norgine for PEDMARQSI, receiving €40 million upfront, potential €210 million in milestones, and royalties, marking a significant revenue opportunity.
The agreement with Norgine not only provides Fennec Pharmaceuticals with a substantial upfront payment but also opens up the potential for significant milestone payments and royalties. This influx of capital and the partnership for commercialization in key markets are likely to positively impact Fennec's financial outlook and stock price in the short term.
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