Fintech
Quoin Pharmaceuticals: On Track to Deliver the First FDA-Approved Treatment for Netherton Syndrome
Quoin Pharmaceuticals (QNRX) is developing a potential treatment for a patient population in desperate need. We spoke with CEO, Dr. Michael Myers, to find out more about Netherton Syndrome, a rare and devastating genetic disease.
New York, New York–(Newsfile Corp. – May 17, 2022) – PCG Digital — People with rare diseases face severe limitations, debilitating discomfort, and a very uncertain future. Children are especially vulnerable:
Rare diseases are only rare if you don’t live with one
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Specialty pharmaceutical company, Quoin Pharmaceuticals (NASDAQ: QNRX), is relentlessly pursuing the development of therapeutic products for rare and orphan diseases. Quoin’s lead product is a potential treatment for Netherton syndrome, a rare and devastating genetic disease that affects the skin, hair, and immune system.
Symptomatic within the first weeks of life, the 1 in 200,000 newborns who are born with the disease experience a lifetime of illness and an enhanced susceptibility to infections, allergies, skin cancer, severe pruritus and other diseases. It is believed that about 6,000-7,000 people in Europe and the US combined suffer from Netherton syndrome. The disease requires lifelong management, with current treatments providing only limited symptomatic relief.
Quoin is now potentially on track to deliver the first FDA approved treatment for this devastating disease. The company’s lead candidate, QRX003, is a whole-body, whole life topical treatment that is providing hope to those around the globe suffering from Netherton syndrome.
We spoke with Dr. Michael Myers, co-founder and CEO of Quoin, to find out more about this disease and what drives him to find an effective treatment.
Q. Netherton syndrome is a skin disease that causes dryness and shedding. Is it similar to eczema or psoriasis?
A. Netherton syndrome is most definitely not a skin disorder. It is a debilitating genetic disease. People with Netherton syndrome have too few layers of skin, so the skin cannot perform its primary protective function. It is a devastating disease for patients and their families, requiring lifelong management of painful, scaly, and itchy skin with an increased risk of severe dehydration, infection, allergies and skin cancer.
Q. What have you heard from people with Netherton syndrome?
A. We hear a mix of frustration, desperation, and devastation. Just last week we received an email from parents of a one-month-old baby with NS. She has to be kept in an incubator at 60% humidity because of how severe her dehydration is, and it’s unlikely she will survive. Two years ago, the parents lost another child with NS at just nine days old. They are desperate for any sort of treatment that might help.
A dermatologist reached out to us regarding a patient, a woman in her 30s with NS who has struggled terribly her whole life. She’s hoping her patient can be involved in our clinical study to give her a chance at living a normal life.
Recently, a father in Germany contacted us because he has a five-year-old daughter with NS who is very ill. He too is hoping his daughter can participate in our clinical study.
Every time we are contacted like this by a parent or a caregiver, it reinforces our determination to progress the development of this product as expeditiously as possible.
Q. What are the current treatments? Can you tell us more about QRX003?
A. There are no approved therapies for Netherton syndrome and current treatment options offer limited benefits, primarily minor symptomatic relief. And even with these treatments, care has to be taken. Emollient moisturizers containing lanolin or petroleum can damage the fragile skin of people with NS because of the friction caused by application and removal. Topical steroids may reduce skin thickness by 70%. Because of their defective skin barrier, people with NS can also develop dangerously high blood levels of the ingredients used in topical treatments. QRX003 is a unique product that targets the cause of the excess shedding that leads to the highly porous skin that Netherton patients have. In addition, if approved, QRX003 may be used on the entire body surface daily to provide a barrier over the skin, limiting the penetration of unwanted environmental agents whilst enabling the architecture of the skin to heal.
Q. When might people with NS be able to use QRX003?
A. Our goal is to obtain the necessary approvals to make our products available to as many people as we can, as quickly as possible. Quoin has received Investigational New Drug clearance from the FDA for QRX003 and will initiate clinical testing in patients in 2Q of 2022. In addition to our planned commercial infrastructure for the US and Europe, we have distribution agreements for QRX003 in almost 60 countries. Many of these regions have early-access programs that could potentially allow QRX003 to be prescribed on a named-patient basis before formal regulatory approval.
Q. What motivates you to work on treatments such as QRX003?
A. People living with Netherton syndrome have been neglected for a long time, waiting and waiting for an effective treatment. The pursuit of unique solutions for rare and orphan diseases has been Quoin’s mission right from the very start. Both my co-founder, Denise, and I have seen the impact Netherton syndrome has on patients and their families – and not just physically. There is a heavy emotional price to pay. We at Quoin are 100% dedicated to supporting these underserved people and doing everything we can to develop effective solutions to treat rare diseases that currently have no treatment or cure.
Disclaimer
This communication was produced by PCG Digital Holdings, LLC, an affiliate of PCG Advisory Inc., (together “PCG”). PCG is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. PCG may be compensated by respective clients for publicizing information relating to its client’s securities. See www.pcgadvisory.com/disclosures.
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As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
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Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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