Benzinga | Nov 8, 2021 10:13AM EST

Quoin, AFT Pharmaceuticals Ink Licensing Pact For Lead Candidate In Genetic Skin Disease

* Quoin Pharmaceuticals Ltd (NASDAQ:QNRX) has entered into an exclusive License and Distribution Agreement with AFT Pharmaceuticals Ltd for QRX003 for Netherton Syndrome.

* Under the terms of the agreement, AFT has exclusive rights to commercialize QRX003 in Australia and New Zealand upon receiving regulatory approvals in both territories.

* Quoin will be entitled to a 20% royalty on net sales in Australia and New Zealand.

* 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.

* Price Action: QNRX shares are down 2.44% at $8.29 during the market session on the last check Monday.