Agreement will focus on the development of novel topical rapamycin (sirolimus) formulations as potential treatments for a number of rare and orphan diseases
UCC’s proprietary dissolvable microneedles technology and other approaches will be utilized to optimize the local delivery of rapamycin
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.
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.
About
Cautionary Note Regarding Forward Looking Statements
The Company cautions that statements in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. All statements that reflect the Company’s expectations, assumptions, projections, beliefs, or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements relating to the Company’s expected cash runway, the belief that the data set from both clinical studies could potentially be sufficiently robust and comprehensive to support an NDA filing, without the need for any additional clinical studies in Netherton subjects, and the belief that certain protocol changes has enhanced the potential for a successful outcome and Quoin’s products in development collectively have the potential to target a broad number of rare and orphan indications, including Netherton Syndrome, Peeling Skin Syndrome, Palmoplantar Keratoderma, Scleroderma, Epidermolysis Bullosa and others. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon the Company’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties including, but not limited to, the Company may need to raise additional funds sooner than planned, the clinical studies may not generate data which is sufficiently robust and comprehensive to support an NDA filing and the Company’s ability to obtain regulatory approvals. More detailed information about the risks and uncertainties affecting the Company is summarized in the Company’s Annual Report on Form 10-K for the year ended
For further information, contact:
Dr.
mmyers@quoinpharma.com
Investor Relations
PCG Advisory
jramson@pcgadvisory.com
(646) 863-6341
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