FENNEC PHARMACEUTICALS INC. — Director's Dealing 2007

Mar 5, 2007

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: ADHEREX TECHNOLOGIES INC (AMEX:ADH)
CIK: 0001211583
Period of Report: 2007-02-21

Reporting Person: KLEIN JAMES A JR (CFO)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to buy)	$.28	2014-02-28	Common Stock (50000)		Direct
Stock Options (Right to buy)	$.88	2012-12-14	Common Stock (39000)		Direct
Stock Options (Right to buy)	$1.2	2012-09-21	Common Stock (13500)		Direct
Stock Options (Right to buy)	$1.95	2011-12-17	Common Stock (5000)		Direct
Stock Options (Right to buy)	$2.65	2011-04-26	Common Stock (200000)		Direct
Stock Options (Right to buy)	$2.9	2011-05-21	Common Stock (15000)		Direct

Footnotes

F1: The options to which this note relates are subject to vesting in three (3) installments with one-third vesting immediately and the remaining shares vesting on the first and second anniversary of the Grant Date reported above.

F2: The options to which this note relates vest in three (3) equal installments beginning on the date reported above.

F3: Exercise price for these options are in Canadian Dollars.