Quoin Raises $104.5M, Gains Orphan and Fast Track Designations for QRX003
Quoin closed a private placement raising $104.5M and secured Orphan Drug Designations in the U.S. and Europe, plus Fast Track status in the U.S., with Japanese and Saudi expedited pathways pending. The pediatric Netherton Syndrome trial expanded to seven patients, and rapamycin topical studies are slated for H2 2026.
1. Financing and Balance Sheet Strengthening
In October 2025 Quoin closed a private placement raising up to $104.5 million in gross proceeds, including $16.5 million at closing and $88 million upon potential warrant exercises, bolstering its cash runway to support ongoing clinical and regulatory programs through 2026.
2. Regulatory Milestones for QRX003
Quoin’s lead candidate QRX003 received Orphan Drug Designations in the United States and Europe, Fast Track status from the U.S. FDA, and confirmed eligibility for Orphan Drug Designation and Fast Track review in Japan, while a Breakthrough Medicine application is pending in Saudi Arabia.
3. Clinical Development Updates
The pediatric Netherton Syndrome study has expanded to seven actively treated children, the largest cohort in this age group ever, and Peeling Skin Syndrome trials are growing to six subjects; proprietary rapamycin topical platforms have achieved target loadings with clinical testing planned for H2 2026.