Quoin Pharmaceuticals Announces Licensing and Distribution Agreement with Leading Rare Disease Company for Greater China
Exclusive agreement establishes a major outlet for Quoin’s products in the Asian market
ASHBURN, Va., June 15, 2022 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or “Quoin”), a specialty pharmaceutical company focused on rare and orphan diseases, today announced it has secured a license and distribution agreement with Hong Kong WinHealth Pharma Group Ltd. for its lead product candidate, QRX003 for Netherton Syndrome as well as for a second pipeline product, QRX004 for Epidermolysis Bullosa.
The agreement will enable Quoin to provide healthcare professionals and patients in greater China, including Hong Kong, Macau and Taiwan, with access to its products upon receiving regulatory approval. With this latest agreement, license and distribution partnerships have now been established for QRX003 in nearly 60 countries globally.
Quoin CEO, Dr. Michael Myers, said, “We are delighted to announce what we believe could ultimately become a transformational partnership for Quoin. WinHealth has extensive experience in successfully bringing innovative rare disease products to the market in China and South East Asia, in general. Their roster of global partnerships is a testament to their commitment to serving the rare disease community and Quoin is excited at becoming the latest addition to this stellar list.
“Netherton Syndrome is a devastating rare disease that severely impacts patients and their quality of life, as well as placing enormous strain on their families and caregivers. Quoin’s overarching mission is to ensure that every patient, everywhere, can get access to our products once approved. This latest agreement brings us yet another step closer to achieving that goal.”
QRX003 has the potential to be the first approved treatment for Netherton Syndrome, a rare genetic disease affecting the skin and immune system which has no available treatments or cure. Quoin received FDA clearance of its Investigational New Drug (IND) in April 2022 and expects to initiate clinical testing this quarter.
About Hong Kong WinHealth Pharma Group Ltd.
Hong Kong Winhealth Pharma Group is a China-based, global innovative biomedical company founded in 2006, providing novel breakthrough therapies to patients with rare diseases and other unmet medical needs. The Group has built a unique and diversified portfolio covering numerous innovative rare disease and specialty products at commercial and late clinical stages. It also makes constant efforts in introducing more innovative therapies from around the world. Winhealth always adheres to the patient-centered philosophy to contribute to the progress of global health cause and improvement of the quality of human life. For more information, visit: http://www.winhealth.hk/
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 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.
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 April 14, 2022, 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.