Fennec Pharmaceuticals Announces Up to $45 Million Investment From Petrichor
RESEARCH TRIANGLE PARK, N.C., Aug. 01, 2022 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC; TSX: FRX), a specialty pharmaceutical company, today announced up to a US$45 million investment from Petrichor Healthcare Capital Management ("Petrichor"). Under the terms of the investment agreement:
- Tadd Wessel, Founder and Managing Partner of Petrichor, said, We are pleased to partner with Fennec as they seek to commercialize PEDMARKTM.
- Our investment strengthens Fennecs balance sheet and provides management with the financial flexibility to potentially capitalize on near-term growth opportunities for PEDMARKTM.
- Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company focused on the development of PEDMARKfor the prevention of platinum-induced ototoxicity in pediatric patients.
- If the FDA does not approve the NDA resubmission of PEDMARK, we will not have access to the Petrichor financing.