The U.S. Food and Drug Administration granted the fast-track designation to Fennec Pharmaceuticals Inc.'s Pedmark to prevent ototoxicity, or ear damage, as a side-effect of cisplatin chemotherapy in children with standard-risk hepatoblastoma.

Hepatoblastoma is a very rare cancerous tumor that starts in the liver and primarily affects children.

The fast track designation allows the FDA to accelerate the review process for drugs indicated to treat serious and life-threatening conditions.