Quoin Pharmaceuticals Announces Signing of Research Agreement with University College Cork (UCC), Ireland
12 Juin 2024 - 2:00PM
Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the “Company” or
“Quoin”), a specialty pharmaceutical company focused on rare and
orphan diseases, today announced that it has signed a research
agreement with The School of Pharmacy at University College Cork,
Ireland. The scope of the agreement encompasses the development of
novel topical formulations of Rapamycin (sirolimus) as potential
treatments for a number of rare and orphan diseases for which there
are currently no approved therapies or cures. UCC will apply its
proprietary dissolvable microneedle delivery technology along with
other formulation approaches to optimize the local delivery of
rapamycin and potentially enhance its therapeutic effectiveness as
a potential treatment for several pre-identified clinical targets.
Under the terms of the
agreement, Quoin will fund a research program at UCC to investigate
the development of a number of topical rapamycin formulations for
future development as potential treatments for several rare and
orphan diseases, where it is believed that the drug’s mechanism of
action may provide for clinical efficacy in these settings.
Following completion of the research program, Quoin will have the
option to advance the clinical development of rapamycin
formulations developed by UCC. The terms of the agreement do not
require Quoin to pay any upfront license or milestone fees or any
royalties based on future product sales.
Dr. Michael Myers,
Chief Executive Officer of Quoin, commented, “The School of
Pharmacy at UCC has a very strong track record in the design of
dermal drug delivery technologies, with a particular focus on
dissolvable microneedles. We are very pleased and excited to
announce the signing of this research agreement, and we believe
this partnership with UCC could ultimately lead to the development
of proprietary topical rapamycin formulations, which Quoin would
have the option to assess clinically as potential treatments for a
number of rare and orphan diseases.”
Rapamycin is an immunosuppressive therapeutic
drug that inhibits the mammalian target (mTOR) cellular signaling
pathway. It has been assessed as a potential topical treatment for
a number of rare and orphan diseases. However, the drug’s molecular
size, extremely poor solubility and other physico-chemical
properties present significant challenges which may potentially
limit its effectiveness when delivered topically. UCC’s dissolvable
proprietary microneedles delivery technology are sharp, needle-like
structures designed to effectively penetrate the skin. The
microneedles are constructed from a diverse range of biodegradable
materials that dissolve rapidly upon skin penetration, while fully
releasing the active pharmaceutical agent. This technology
potentially optimizes intradermal drug delivery whilst offering a
number of advantages that include painless administration, minimal
skin trauma, reduced risk of infection as well as simplified and
safe disposal after use. In addition, the microneedle delivery
technology may be used to effectively deliver both large and small
drug molecules.
About Quoin Pharmaceuticals Ltd.
Quoin Pharmaceuticals Ltd. is a clinical stage
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. All statements
that reflect the Company’s expectations, assumptions, projections,
beliefs, or opinions about the future, other than statements of
historical fact, are forward-looking statements, including, without
limitation, statements relating to the Company’s expected cash
runway, the belief that the data set from both clinical studies
could potentially be sufficiently robust and comprehensive to
support an NDA filing, without the need for any additional clinical
studies in Netherton subjects, and the belief that certain protocol
changes has enhanced the potential for a successful outcome and
Quoin’s products in development 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. 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
including, but not limited to, the Company may need to raise
additional funds sooner than planned, the clinical studies may not
generate data which is sufficiently robust and comprehensive to
support an NDA filing and the Company’s ability to obtain
regulatory approvals. More detailed information about the risks and
uncertainties affecting the Company is summarized in the Company’s
Annual Report on Form 10-K for the year ended December 31, 2023 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. 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. Dr. Michael
Myers, Ph.D., CEO mmyers@quoinpharma.com
Investor Relations PCG Advisory Jeff
Ramsonjramson@pcgadvisory.com (646) 863-6341
Quoin Pharmaceuticals (NASDAQ:QNRX)
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