Quoin, AFT Pharmaceuticals Ink Licensing Pact For Lead Candidate In Genetic Skin Disease

Quoin Pharmaceuticals Ltd QNRX has entered into an exclusive License and Distribution Agreement with AFT Pharmaceuticals Ltd for QRX003 for Netherton Syndrome.
Under the terms of the agreement, AFT has exclusive rights to commercialize QRX003 in Australia and New Zealand upon receiving regulatory approvals in both territories.
Quoin will be entitled to a 20% royalty on net sales in Australia and New Zealand.
Netherton Syndrome, a form of Ichthyosis, is a rare, hereditary skin disorder caused by a mutation in the SPINK5 gene (serine protease inhibitor, Kazal Type 5) that leads to severe skin barrier defects and recurring infections.
Price Action: QNRX shares are down 2.44% at $8.29 during the market session on the last check Monday.