Fennec Pharmaceuticals Inc. (OTCMKTS:FENCF) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On June 8, 2017, Fennec Pharmaceuticals Inc. (the Company or
Fennec) entered into subscription agreements in connection with a
non-brokered private placement (the Offering) of 1,900,000 common
shares of the Company (the Shares) for gross proceeds of
US$7,600,000. Each Share was issued at a price of US$4.00 per
Share. The Offering was conducted in reliance on Regulation D and
Regulation S under the Securities Act of 1933, as amended (the
Act).
For Canadian securities law purposes, the Shares will be subject
to a hold period, which will expire four months from their date
of issuance. For United States securities law purposes, the
Shares have not been registered under the Act and may not be
offered or sold in the United States absent registration under
the Act or an applicable exemption from the registration
requirements of the Act. It is anticipated that the Company will
use the proceeds of the Offering toward the Companys continued
development of Sodium Thiosulfate (STS) for the prevention of
platinum-induced ototoxicity in pediatric cancer patients and for
other general corporate purposes.
| Item 3.02 | Unregistered Sales of Equity Securities. |
The disclosures in Item 1.01 concerning the Offering and issuance
of the Shares is incorporated into this Item 3.02.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit No. | Description | |
| Exhibit 99.1 | Press Release dated June 8, 2017 |
About Fennec Pharmaceuticals Inc. (OTCMKTS:FENCF)
Fennec Pharmaceuticals Inc., formerly Adherex Technologies Inc., is a biopharmaceutical company focused on cancer therapeutics. The Company’s lead product candidate in the clinical stage of development includes Sodium Thiosulfate (STS), which has completed patient enrollment of over two Phase III clinical trials for the prevention of cisplatin induced hearing loss, or ototoxicity in children. STS has been studied by cooperative groups in over two Phase III clinical studies of survival and reduction of ototoxicity, The Clinical Oncology Group Protocol ACCL0431 and SIOPEL 6. The Children’s Oncology Group (COG) ACCL0431 protocol enrolled 20% childhood cancers typically treated with intensive cisplatin therapy for localized and disseminated disease, including hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma and medulloblastoma. SIOPEL 6 enrolled only hepatoblastoma patients with localized tumors.
