On February 17, 2022 Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) (the "Company" or "Quoin"), a specialty pharmaceutical company focused on rare and orphan diseases, reported that its wholly-owned subsidiary, Quoin Pharmaceuticals, Inc., has entered into an exclusive Distribution Agreement with Neopharm Medical Supplies, an exclusive distributor for leading medical and pharma manufacturers in Israel, 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 (Press release, NeoPharm, FEB 17, 2022, View Source [SID1234608241]).

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Under the terms of the revenue sharing agreement, Neopharm gains exclusive rights to commercialize QRX003 in Israel. Quoin will be the exclusive supplier of QRX003 to Neopharm.

Dr. Michael Myers, Chief Executive Officer of Quoin, commented, "This is Quoin’s sixth distribution agreement in the last four months for QRX003 and we’re excited to add Neopharm, who is a leading distributor in Israel. We now have 54 countries covered by our partnership agreements for QRX003, encompassing many regions of the globe. Establishing a broad distribution network is a key part of our commitment to ensure that every patient, everywhere will have access to this product once it has been approved for this devastating disease."

About Netherton Syndrome

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, as well as a pronounced predisposition to allergies, asthma, and eczema. Patients also often suffer from severe dehydration, chronic skin inflammation and stunted growth.

Currently, there is no cure for Netherton Syndrome, nor are there any approved therapeutic treatments.