ASHBURN, Va., Nov. 11, 2021 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a specialty pharmaceutical company focused on rare and orphan diseases, and Genpharm Services, a regional rare disease and specialty pharmaceutical company, today announced that they have entered into an exclusive License and Distribution Agreement for QRX003, Quoin’s investigational treatment for Netherton Syndrome, a rare and devastating genetic disease.
Under the terms of the agreement, Genpharm Services has exclusive rights to commercialize QRX003 in the Middle East and North Africa region, upon the receipt of regulatory approvals in both territories. Upon approval and launch of the product, Quoin will be entitled to a revenue sharing arrangement on net sales of the product. The companies have also entered into an exclusive Supply Agreement, under which Quoin is obligated to manufacture and supply the product to Genpharm Services.
Dr. Michael Myers, Chief Executive Officer of Quoin, commented, “The licensing agreement with Genpharm is the second licensing agreement that we’ve announced for QRX003, which we are developing as a potential treatment for Netherton Syndrome. Genpharm’s focus on commercializing drugs for rare and orphan diseases in all of the key Middle East and North African pharmaceutical markets makes them an ideal partner for Quoin.”
“This collaboration with Quoin falls right into the scope of Genpharm’s mission. We are eager to bring innovative therapies to rare disease patients in the Middle East, particularly in areas of significant unmet need,” said Kamel Ghammachi, Chairman and co-founder of Genpharm Services. “We strongly believe that Quoin will successfully drive the clinical development program for Netherton Syndrome for the sake of patients and their families.”
About Netherton Syndrome
Netherton Syndrome, a form of Ichthyosis, is a rare, hereditary skin disorder caused by a mutation in the SPINK5 gene (serine protease inhibitor, Kazal Type 5) that leads to severe skin barrier defects and recurring infections, as well as a pronounced predisposition to allergies, asthma, and eczema. Patients also often suffer from severe dehydration, chronic skin inflammation and stunted growth. Currently, there is no cure for Netherton Syndrome, nor are there any approved therapeutic treatments.
About Genpharm Services
Genpharm Services is a privately held regional pharmaceutical company, focused on Rare Diseases and Specialty therapeutics for the Middle East and North Africa (MENA) region. It was founded in 2012 and has its regional offices in Dubai, UAE. It is led by senior industry executives and a dedicated team of experienced staff. It provides fast-track and early market access, sustainable commercial solutions and strategic advice on medical, regulatory, pricing and launch excellence. For more information visit https://www.genpharmservices.com/.
About Quoin Pharmaceuticals Ltd.
Quoin Pharmaceuticals Ltd. is an emerging specialty pharmaceutical company focused on developing and commercializing therapeutic products that treat rare and orphan diseases. We are committed to addressing unmet medical needs for patients, their families, communities and care teams. Quoin’s innovative pipeline comprises three products in development that collectively have the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, Epidermolysis Bullosa and others. For more information, go to: www.quoinpharma.com.
Cautionary Note Regarding Forward Looking Statements
The Company cautions that statements in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as "expect," "intend," "plan," "anticipate," "believe," and "will," among others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" included in the Company’s Annual Report on Form 20-F filed with the SEC on March 29, 2021 and in other filings the Company has made and may make with the SEC in the future. One should not place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
For further information, contact:
Quoin Pharmaceuticals Ltd.
Michael Myers, Ph.D., CEO
mmyers@quoinpharma.com
Investor Relations
PCG Advisory
Jeff Ramson
jramson@pcgadvisory.com
(646) 863-6341
