Quoin: 1st Invisicare Product to Receive U.S. FDA Application Acceptance

 Skinvisible, Inc. ("Skinvisible") (OTCQB:SKVI), is pleased to announce that its licensee Quoin Pharmaceuticals, Inc. ("Quoin") (NASDAQ:QNRX), has received U.S. FDA acceptance of its Investigational New Drug (IND) application for its licensed formulation which uses Skinvisible's Invisicare® proprietary drug delivery technology. The topical formulation "QRX003" was developed to treat Nethertons Syndrome, a debilitating hereditary disorder that affects the skin, hair and the immune system. There currently is no cure or approved treatment for Netherton Syndrome.

"This is the first IND approval by the FDA which includes our Invisicare technology as the delivery platform, and it further reinforces our vision of developing topical therapeutics for a number of key indications. It is an important milestone for Skinvisible and could potentially lead to other indications receiving approval," said Terry Howlett, President and CEO, Skinvisible. "With the IND approved, the clinical trial will be underway shortly. We look forward to assisting Quoin in their success and potential FDA approval as well as potentially bringing a treatment to patients suffering from Nethertons Syndrome."

Skinvisible granted Quoin an exclusive, royalty-bearing license to its technology for use in select Orphan Rare Skin Diseases and for the right to use its proprietary formula as well as its technology to develop products that will target a number of rare skin related indications. Quoin is responsible for obtaining all FDA and other regulatory body approvals necessary to market the products in the US and other countries. Upon the successful completion of various clinical and regulatory milestones, Skinvisible is entitled to receive a milestone payment of $5 million and ongoing royalties from sales.

https://finance.yahoo.com/news/skinvisible-announces-first-invisicare-delivery-120000428.html