News Release

ASHBURN, Va., May 24, 2023 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a clinical stage, specialty pharmaceutical company focused on rare and orphan diseases, announces that its open label study evaluating QRX003 as a treatment for Netherton Syndrome has reached 50% enrollment.

The company’s open label study is investigating the safety and efficacy of QRX003 topical lotion in Netherton Syndrome patients who are currently receiving off-label systemic therapy, primarily biologic therapy, and is being conducted under an open Investigational New Drug (IND).

Quoin announced it had dosed the first patient in its clinical trial in March 2023 and has now dosed its fifth patient out of a total of 10 patients that are expected to participate in this single-arm study.

Quoin Pharmaceuticals CEO, Dr. Michael Myers, said, “We are very pleased with the level of interest that our two clinical trials have generated. Reaching 50% enrollment for this, our open label study, is a very significant milestone and an important step forward for Quoin as we pursue the development of a safe and effective treatment for this devastating disease. We anticipate reporting top-line data from this study in the second half of 2023.”

In addition to its open label study, Quoin is conducting a double blinded, vehicle controlled trial assessing two different doses of QRX003 topical lotion versus a vehicle lotion in Netherton Syndrome patients. Both studies are actively recruiting and dosing patients. If proven to be safe and effective, long term daily application of QRX003 could lead to the development of a more normally functioning skin barrier and a significant improvement in the quality of life of Netherton Syndrome patients.

For more information about Quoin’s clinical trials in Netherton Syndrome, please visit: https://www.nethertonsyndromeclinicaltrials.com/

About Quoin Pharmaceuticals Ltd.
Quoin Pharmaceuticals Ltd. is a clinical stage 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 four 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, Scleroderma, Epidermolysis Bullosa and others. For more information, visit: www.quoinpharma.com or LinkedIn for updates.

About Netherton Syndrome
Netherton Syndrome is a rare and sometimes fatal skin disease for which there is no approved treatment, and no cure. It is caused by a mutation of the SPINK5 gene which leads to uncontrolled skin shedding, resulting in a highly porous and ineffective skin barrier. Symptoms are present at birth and include red, scaly skin. Other symptoms include outbreaks of red, circular scaly rashes, thin, fragile hair (bamboo hair), and immune reactions such as hay fever, asthma, severe pruritus (itchy skin), and eczema. Dehydration and infection are common and can be serious or fatal. Babies tend to grow slowly and have poor weight gain. Netherton Syndrome is inherited in an autosomal recessive pattern.

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 10-K for the year ended December 31, 2022 that the Company filed with the SEC. 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:
Investor Relations
PCG Advisory
Stephanie Prince
sprince@pcgadvisory.com
(646) 863-6341