Sydney, Australia (CU)_ Quoin Pharmaceuticals Ltd., a specialty pharmaceutical business specializing in rare and orphan illnesses, revealed that it has entered into an agreement with Queensland University of Technology (QUT) in Australia. The deal provides for an exclusive option to develop a bifunctional protein that has demonstrated encouraging in vitro results as a possible therapy for Netherton Syndrome.
As part of the agreement, Quoin will sponsor a pre-clinical program at QUT. Quoin has the opportunity to sign an exclusive global license to the protein and its related intellectual property upon conclusion of the program. According to the terms of the agreement, Quoin is not required to pay any upfront licensing or milestone fees. Quoin will pay a mid-single digital royalty on sales to QUT after the approval of the final product.
Dr. Michael Myers, CEO of Quoin, expressed delight over the collaboration with Queensland University of Technology. He said, “We are excited to have entered into this partnership with QUT. Quoin believes that the in-licensing of this protein is complementary to our lead asset, QRX003 for Netherton Syndrome, and further strengthens our leadership position in the development of potential treatments for this devastating disease. Following our recent merger with Cellect Biotechnology Ltd., we have a strong balance sheet to support the execution of our strategic plans.”
Quoin Pharmaceuticals Ltd. is a budding specialty pharmaceutical business that is focused on the manufacturing and marketing of medications for the treatment of rare and orphan illnesses. The company is dedicated to fulfill the unmet medical requirements of the patients, their families, communities, and health care teams. Quoin’s innovation pipeline now includes three medications in development that are capable of treating a wide variety of rare and orphan diseases, including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, and Epidermolysis Bullosa.
