Quoin Pharmaceuticals secures up to $50M in funding from healthcare-focused investors to advance its rare disease pipeline.
Quoin Pharmaceuticals (QNRX) has finalized a securities purchase agreement to raise up to $50M in gross proceeds from institutional investors. The funding round includes participation from healthcare-focused firms such as Sirenia Capital Management, Sphera Healthcare, and AIGH Capital Management.
The financing aims to support the development of Quoin’s rare disease drug pipeline. Shares of QNRX jumped 38% in premarket trading following the announcement, reflecting investor confidence in the company’s growth prospects.
No immediate market reaction beyond the premarket surge was reported, but the funding provides a critical capital infusion for clinical and operational expansion.