FENNEC PHARMACEUTICALS INC. — Director's Dealing 2007

Dec 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADHEREX TECHNOLOGIES INC (AMEX:ADH)
CIK: 0001211583
Period of Report: 2007-12-03

Reporting Person: BREEN WILLIAM G (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-12-03	Stock Options (Right to buy)	$0.28	A	50000	Acquired	2014-12-03	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	680717	Direct
Common Stock	179813	Indirect
Common Stock	507251	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to buy)	$0.57	2014-05-15	Common Stock (200000)	200000	Direct

Footnotes

F1: The options to which this note relates will vest 100% on the date reported above.