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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 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.