Quoin Pharmaceuticals reports positive clinical data and $50M financing

Quoin Pharmaceuticals has reported positive interim results from its Phase 2/3 study of QRX003 4% lotion, a topical treatment for Netherton Syndrome, a rare genetic skin disease. An interim analysis of the first six patients to complete 12 weeks of treatment met the primary endpoint, showing a statistically significant improvement in the Investigator’s Global Assessment score.

CEO Dr. Michael Myers noted that the improvements were achieved even after participants discontinued other topical and systemic therapies. The company expects to complete recruitment for this study by the end of the year and report full data in the second quarter of next year.

In conjunction with these clinical developments, Quoin announced a private placement financing aimed at raising up to $50 million in gross proceeds. The financing includes an initial upfront funding of approximately $30.8 million, with an additional $19.2 million possible through the exercise of warrants. The round includes participation from several healthcare-focused institutional investors, such as Sirenia Capital Management LP and Sphera Healthcare, as well as members of the company’s management and board.