Yep, entirely possible, I think I lost ~10 Ilydon xantusi fry during the Ich outbreak I had in February. Because of the bad condition of other fish, I was advised that half dosing to allow for the fry was possibly going to kill eveything in the tank, so it was suggested I should hit the Ich hard with full dose Protozin and a little salt (only 0.5g/l, not too much as there was a Weather Loach in there).
I should point out that I. xantusi fry are born monster size at nearly 2cm long TL, far bigger than the average fry, which should mean they are slightly more tolerant of the meds than say young Pearl Danios that look like gnat larvae!