Endo affiliate, Paladin Labs, will commercialize Quoin’s lead asset for Netherton Syndrome in Canada
ASHBURN, Va., July 15, 2022 (GLOBE NEWSWIRE) -- Quoin Pharmaceuticals Inc. (NASDAQ: QNRX) (the “Company” or “Quoin”), a specialty pharmaceutical company focused on rare and orphan diseases, has entered into the License and Distribution Agreement and the Supply Agreement with Endo Ventures Limited, a subsidiary of Endo International plc (NASDAQ:ENDP), for the development, registration, supply, commercialization and distribution of QRX003, Quoin’s lead product for Netherton Syndrome, on an exclusive basis in Canada.
Under the terms of the License and Distribution Agreement, Endo Ventures has the exclusive right, which was sublicensed to its affiliate, Paladin Labs Inc., to commercialize QRX003 in Canada, upon the receipt of the regulatory approvals. Under the Supply Agreement, Quoin is obligated to manufacture and supply the product to Endo Ventures.
Quoin CEO, Dr. Michael Myers, said, “We are delighted to be partnering with Paladin for QRX003 and gaining the opportunity of benefiting from the company’s deep knowledge and experience of the Canadian market. Paladin is a highly respected provider of a large number of innovative brands that have a significant impact on the everyday health and wellbeing of millions of Canadians, and we believe they are the best partner for Quoin in this very important market.”
“By entering into this latest agreement, our eighth for QRX003, Quoin truly has established a global network of marketing partnerships for the product that will help support our mission of ensuring that every patient, everywhere, can have access to our products, once approved.”
Last month, Quoin announced it had secured an exclusive license and distribution agreement with WinHealth Investment (HK) Limited, covering greater China, including Hong Kong, Macau and Taiwan. Quoin now has eight license and distribution partnerships for QRX003 in 60 countries.
.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.
For further information, contact:
Quoin Pharmaceuticals Ltd.
Michael Myers, Ph.D., CEO
mmyers@quoinpharma.com
Investor Relations
PCG Advisory
Stephanie Prince
sprince@pcgadvisory.com
(646) 863-6341
