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Quoin Pharmaceuticals Ltd. (QNRX) reports news about a late clinical-stage specialty pharmaceutical company developing therapies for rare and orphan diseases. Updates center on QRX003 lotion for Netherton Syndrome and related rare skin disorders, including clinical-study progress and U.S. and European orphan, rare pediatric disease and fast track regulatory designations.
Company news also covers QRX009 topical rapamycin development programs, rare dermatologic and genetic disease research, quarterly financial results, private-placement financing and distribution or commercialization arrangements for potential international markets.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) announced a new exclusive Distribution Agreement with OrphanDC for QRX003, aimed at treating Netherton Syndrome, in Brazil, Argentina, and Colombia. This marks the fourth distribution partnership since going public in October 2021. Quoin will supply QRX003 to OrphanDC under a revenue-sharing model. The company has previously secured agreements for other regions, including the Middle East and North Africa, and continues discussions with additional distributors. Netherton Syndrome is a rare genetic disorder with no current cure.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) announced an exclusive Distribution Agreement with Orpharm LLC for the commercialization of QRX003 in Russia and CIS, intended for treating Netherton Syndrome. This agreement marks the third partnership for QRX003 in two months and reflects Quoin's commitment to increasing patient access. QRX003 is crucial as there are currently no approved treatments for this severe genetic disease. Quoin will supply the product to Orpharm upon regulatory approval.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) has signed an exclusive License and Distribution Agreement with Genpharm Services for its investigational treatment QRX003, intended for Netherton Syndrome. Genpharm will commercialize QRX003 in the Middle East and North Africa upon receiving regulatory approvals. This agreement marks Quoin's second licensing deal for QRX003 and includes a revenue-sharing arrangement. Quoin is committed to developing therapies for rare diseases, targeting significant unmet medical needs.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) has signed an exclusive License and Distribution Agreement with AFT Pharmaceuticals for QRX003, targeting Netherton Syndrome in Australia and New Zealand. Quoin will receive a 20% royalty on net sales post-regulatory approval. This marks QRX003's first licensing agreement, highlighting Quoin's strategy in rare diseases. AFT's commercial presence and focus on dermatology are expected to enhance product promotion. Currently, Netherton Syndrome has no approved treatments, emphasizing the potential impact of QRX003.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) has appointed Gordon Dunn as Chief Financial Officer, effective immediately. With over 30 years of experience, Dunn has held CFO roles in both private and publicly traded companies, including Qured and Innocoll AG. Dr. Michael Myers, CEO of Quoin, expressed confidence in Dunn's capabilities, emphasizing his background in investment banking and private equity. Quoin focuses on developing therapeutic products for rare and orphan diseases, with a promising pipeline targeting conditions like Netherton Syndrome and Epidermolysis Bullosa.
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) announced a partnership with Queensland University of Technology for an exclusive option on a bi-functional protein targeting Netherton Syndrome. The agreement entails funding a pre-clinical program, with an option for an exclusive global license upon completion. No upfront fees are required, but royalties will apply upon product approval. CEO Dr. Michael Myers emphasized that this complements their lead asset, QRX003, further solidifying their commitment to developing treatments for rare diseases.
Quoin Pharmaceuticals Completes Merger
On October 28, 2021, Quoin Pharmaceuticals (NASDAQ: QNRX) announced the successful closing of its merger with Cellect Biotechnology. The merger resulted in Quoin's rebranding and its shares will trade under the symbol QNRX starting October 29, 2021. Quoin secured $21.5 million in gross proceeds from a private placement financing led by Altium Capital, supplementing a previous $5 million investment. The company aims to advance its product pipeline addressing rare diseases, while shareholders retained a significant portion of equity in the merged entity.