Quoin Pharmaceuticals Announces Signing of Research Agreement with University College Cork (UCC), Ireland

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.

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