- Fennec Pharmaceuticals (FRX) closes the first $5 million investment from Petrichor
- An additional $20 million will be funded upon approval from the U.S. Food and Drug Administration (FDA)
- Fennec may draw up to $20 million of additional financing under the investment agreement
- Cisplatin and other platinum compounds are essential chemotherapeutic agents for many pediatric malignancies
- Fennec Pharmaceuticals is a specialty pharmaceutical company focused on the development of PEDMARK™ for the prevention of platinum-induced ototoxicity in pediatric patients
- Fennec Pharmaceuticals (FRX) is trading at C$8.46 at 12:18 pm EST
Fennec Pharmaceuticals (FRX) has completed the first closing of US$5 million of senior secured promissory notes under Petrichor Healthcare Capital Management.
An additional $20 million will be funded upon approval from the U.S. Food and Drug Administration (FDA).
Upon mutual agreement with Petrichor, Fennec may draw up to $20 million of additional financing under the investment agreement.
In connection with the first closing, the company repaid its secured indebtedness with Bridge Bank in full.
The company is relying upon the exemption outlined in Section 602.1 of the TSX Company Manual, which says the TSX will not apply its standards to certain transactions involving eligible interlisted issuers on a recognized exchange, such as Nasdaq.
Cisplatin and other platinum compounds are essential chemotherapeutic agents for many pediatric malignancies.
Fennec Pharmaceuticals is a specialty pharmaceutical company focused on the development of PEDMARK™ for the prevention of platinum-induced ototoxicity in pediatric patients.
Petrichor Healthcare Capital Management partners with world-class healthcare managers and businesses to provide customized investment structures and support.
Fennec Pharmaceuticals (FRX) is trading at C$8.46 at 12:18 pm EST.