Benzinga | Nov 11, 2021 08:33AM EST

Quoin Pharmaceuticals, Genpharm Services Sign Exclusive License, Distribution Agreement For Quoin's Lead Asset, QRX003; Terms Not Disclosed

Quoin Pharmaceuticals Ltd. (NASDAQ:QNRX) (the "Company" or "Quoin"), a specialty pharmaceutical company focused on rare and orphan diseases, and Genpharm Services, a regional rare disease and specialty pharmaceutical company, today announced that they have entered into an exclusive License and Distribution Agreement for QRX003, Quoin's investigational treatment for Netherton Syndrome, a rare and devastating genetic disease.



Under the terms of the agreement, Genpharm Services has exclusive rights to commercialize QRX003 in the Middle East and North Africa region, upon the receipt of regulatory approvals in both territories. Upon approval and launch of the product, Quoin will be entitled to a revenue sharing arrangement on net sales of the product. The companies have also entered into an exclusive Supply Agreement, under which Quoin is obligated to manufacture and supply the product to Genpharm Services.

Dr. Michael Myers, Chief Executive Officer of Quoin, commented, "The licensing agreement with Genpharm is the second licensing agreement that we've announced for QRX003, which we are developing as a potential treatment for Netherton Syndrome. Genpharm's focus on commercializing drugs for rare and orphan diseases in all of the key Middle East and North African pharmaceutical markets makes them an ideal partner for Quoin."

"This collaboration with Quoin falls right into the scope of Genpharm's mission. We are eager to bring innovative therapies to rare disease patients in the Middle East, particularly in areas of significant unmet need," said Kamel Ghammachi, Chairman and co-founder of Genpharm Services. "We strongly believe that Quoin will successfully drive the clinical development program for Netherton Syndrome for the sake of patients and their families."