Mr. Robert Andrade reports

FENNEC PHARMACEUTICALS ANNOUNCES SETTLEMENT AGREEMENT RESOLVING PEDMARK PATENT LITIGATION

Fennec Pharmaceuticals Inc. has entered into an agreement with Cipla Ltd. and Cipla USA Inc. to settle the litigation between them regarding Cipla's application to the FDA (U.S. Food and Drug Administration) for approval to market a generic version of Fennec's Pedmark (sodium thiosulphate injection) product. See Fennec Pharmaceuticals versus Cipla and Cipla USA, C.A. No. 2:23-cv-00123-JKS-MAH (D.N.J.). Under the terms of the agreement, the lawsuit will be dismissed, with each party bearing their own costs, and Cipla will not enter the market with its generic sodium thiosulphate product until Sept. 1, 2033, or earlier under certain circumstances.

About Fennec Pharmaceuticals Inc.

Fennec Pharmaceuticals is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of Pedmark to reduce the risk of platinum-induced ototoxicity in cancer patients. Pedmark received FDA approval in September, 2022, and European Commission approval in June, 2023, and United Kingdom approval in October, 2023, under the brand name Pedmarqsi.

In March, 2024, Fennec entered into an exclusive licensing agreement, under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize Pedmarqsi in Europe, the United Kingdom, Australia and New Zealand. Pedmarqsi is now commercially available in the United Kingdom and Germany.

Pedmark has received orphan drug exclusivity in the United States and Pedmarqsi has received pediatric-use marketing authorization in Europe, which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for Pedmark until 2039 in both the United States and internationally.

We seek Safe Harbor.