Quoin Pharmaceuticals and Endo Ventures Limited Enter Into Exclusive Distribution and Supply Agreements
July 15 2022 - 7:30AM
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.,
CEOmmyers@quoinpharma.com
Investor RelationsPCG AdvisoryStephanie
Princesprince@pcgadvisory.com(646) 863-6341
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