Quoin Pharmaceuticals Signs Exclusive Distribution Agreement with Orpharm LLC for its Lead Asset, QRX003, for Netherton Syndrome
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.
- Exclusive rights granted to Orpharm for QRX003 in Russia and CIS markets.
- Third partnership agreement for QRX003 in under two months, indicating strong momentum.
- Addresses a significant unmet medical need in Netherton Syndrome with no current treatment options.
- None.
Orpharm Gains Exclusive Rights to Commercialize QRX003 in Russia and CIS
ASHBURN, Va., Dec. 15, 2021 (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 Orpharm LLC (“Orpharm”) 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, Orpharm gains exclusive rights to commercialize QRX003 in Russia and CIS, and Quoin is obligated to supply the product to Orpharm, upon the receipt of regulatory approval.
Dr. Michael Myers, Chief Executive Officer of Quoin, commented, “This distribution agreement with Orpharm is our third partnership agreement for QRX003 in less than two months and underscores Quoin’s commitment to make our products available to as many patients as possible upon the receipt of regulatory approval. We are very pleased that Orpharm has become our partner for Russia and CIS and we look forward to working with them to bring this potential treatment to a very underserved patient population.”
“We are excited to partner with Quoin. QRX003 will be a much needed solution to patients suffering from Netherton syndrome in our region. We are committed to supporting Quoin and leveraging our relationships with dermatologists and the broader rare disease community,” states Pavel Shestiperov, M.D., CEO of Orpharm.
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 Orpharm LLC
Orpharm LLC was founded in 2019 with the aim to be the leading full service distributor for rare diseases, oncology and highly specialized therapeutics in Russia & CIS. Orpharm has an equal emphasis on patient demand generation through evidence-based medicine, fast track market access solutions, and the highest compliance & ethical standards, all while striving for the best outcomes for patients, prescribers, and partners.
Orpharm is also a proud founding member of the World Orphan Drug Alliance (WODA) offering its services together with like-minded sister companies in Switzerland, CEE, Middle East & Turkey, and Latin America.
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
What is the significance of Quoin's agreement with Orpharm for QRX003?
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