Quoin Pharmaceuticals Ltd. announced that its wholly-owned subsidiary, Quoin Pharmaceuticals, Inc., has extended its exclusive Distribution Agreement with ER-Kim, a partner for biotech companies in Central and Eastern Europe (“CCE”), for QRX003, the Company’s investigational treatment for Netherton Syndrome, a rare and devastating genetic disease for which there is currently no available treatment or cure.
Under the terms of the revenue sharing agreement, which was initially announced earlier in February 2022, ER-Kim gains exclusive rights to commercialize QRX003 in six additional countries. These include Turkey, Georgia, Azerbaijan, Greece, Cyprus, and Malta and are in addition to the fifteen countries covered under the initial agreement that included Albania, Bosnia & Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Kosovo, Moldova, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia, and Slovenia. Quoin will be the exclusive supplier of QRX003 to ER-Kim.
Dr. Michael Myers, Chief Executive Officer of Quoin, commented, “We are extending our agreement with ER-Kim, a leading commercial partner for global biotech and pharma, with the addition of six new countries to the territory they have the rights to. The expansion of our partnership with Er-Kim will facilitate a more streamlined and effective commercialization of QRX003 in the region, once approval has been obtained. Quoin now has 60 countries under partnership distribution agreements for QRX003, which has the potential to become the first approved treatment for Netherton Syndrome.”