Quoin Pharmaceuticals Signs Exclusive Distribution Agreement with OrphanDC for its Lead Asset, QRX003, for Netherton Syndrome
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.
- Entered an exclusive distribution agreement for QRX003 with OrphanDC, expanding into key Latin American markets.
- Fourth distribution partnership established since going public, indicating growth and momentum.
- None.
- OrphanDC Gains Exclusive Rights to Commercialize QRX003 in Key Countries in Latin America
- Fourth Distribution Partnership Established Since Going Public in October 2021
- Additional Territories in Discussion
ASHBURN, Va., Jan. 26, 2022 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a specialty pharmaceutical company focused on rare and orphan diseases, today announced that its wholly-owned subsidiary, Quoin Pharmaceuticals, Inc., has entered into an exclusive Distribution Agreement with OrphanDC, a partner for biotech companies in Latin America, for QRX003, the Company’s investigational treatment for Netherton Syndrome, a rare and devastating genetic disease for which there is currently no available treatment or cure.
Under the terms of the agreement, OrphanDC gains exclusive rights to commercialize QRX003 in Brazil, Argentina, and Colombia under a revenue sharing partnership. Quoin will be the exclusive supplier of QRX003 to OrphanDC.
Dr. Michael Myers, Chief Executive Officer of Quoin, commented, “We’re excited to announce Quoin’s fourth distribution agreement for QRX003. This agreement with OrphanDC covers Brazil, Argentina, and Colombia, which are the key markets in Latin America for rare and orphan diseases. OrphanDC has a tremendous track record of delivering orphan drugs to rare disease patients, and we look forward to working with them to bring relief to patients suffering with Netherton Syndrome.”
“This agreement follows the announcements of three others over the past three months that cover the Middle East and North Africa, Russia and the CIS countries, and Australia and New Zealand. We are in discussions with other international distributors as well, as we continue working diligently on all fronts to advance our clinical program,” concluded Dr. Myers.
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 OrphanDC
OrphanDC acts as a partner for Biotech companies in Latin America. Our local and global capabilities and expertise focus on supporting our clients from the clinical development stage throughout the product lifecycle. OrphanDC is compliant with all local and global best practices, guidelines, ethical and regulatory issues. OrphanDC offers clinical development assistance, early access programs and hosting, distribution and market access services. For more information, go to: www.orphandc.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
FAQ
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