Quoin Pharmaceutical Ltd. (NASDAQ: QNRX) has announced that Quoin Pharmaceuticals Inc., its wholly-owned subsidiary, has signed an exclusive Distribution deal with ER-Kim, a biotech firms partner in eastern and central Europe, for QRX003.
QRX003 is a treatment for Netherton Syndrome
QRX003 is the company’s experimental treatment for Netherton Syndrome, a devastating and rage genetic condition that currently doesn’t have an available cure or treatment. ER-Kim is among the largest and oldest firms in CEE, the Mediterranean, and Turkey, providing innovative therapies to patients.
ER-Kim gets exclusive rights for the commercialization of QRX003 in fifteen countries across Central and Eastern Europe, including Albania, Bulgaria, Czechia, Croatia, Hungary, Kosovo, Montenegro, Bosnia and Herzegovina, Moldova, Poland, Romania, North Macedonia, Slovakia, Serbia, and Slovenia, according to the terms of the revenue-sharing deal. In addition, ER-Kim will receive QRX003 exclusively from Quoin.
Quoin signs fifth distribution agreement
The company’s CEO, Michael Myers, commented, “This is Quoin’s fifth distribution agreement for QRX003 since we went public four months ago. The agreement with ER-Kim covers a number of important countries for rare and orphan diseases in Central and Eastern Europe. ER-Kim has been a leading commercial partner for global biotech and pharma companies in its markets for over forty years and we’re excited to work with them.”
This agreement comes after four others were announced, covering Latin America, Australia and New Zealand, the Middle East and North Africa, Russia, and the Commonwealth of Independent States. As of today, our collaboration agreements for QRX003 encompass 53 countries, demonstrating Quoin’s unwavering dedication to ensure that every patient suffering from this horrific disease has access to it.
Netherton Syndrome, also known as Ichthyosis, is a rare, genetic skin illness resulting from mutations in the SPINK5 gene (serine protease inhibitor, Kazal Type 5) that causes significant skin barrier abnormalities and recurrent infections, as well as a strong proclivity for allergies, asthma, and eczema. Chronic skin irritation, severe dehydration, and stunted growth are common among patients. There is currently no treatment for Netherton Syndrome, and no approved therapeutic options are available.
