Skinvisible Proposes Merger with Quoin Pharmaceuticals to Offer Transdermal Pain Treatment Products.
5 December 2017 - Nevada, US-based research and development company Skinvisible, Inc. (OTCQB: SKVI) has proposed a merger with Quoin Pharmaceuticals to expand portfolio to include transdermal products to treat suicide and post-surgical pain, the company said.
The completion of the merger is subject to the negotiation of a definitive agreement and thereafter other customary closing conditions.
Post-merger, Quoin shareholders would own 72.5% of the new company and Skinvisible shareholders will own 27.5%, prior to any effect from financing activities.
Terms of the transaction were not disclosed.
The new company will be named Quoin Pharmaceuticals Inc. The merger is expected to take place in early 2018.
The company's proposed first lead product, QRX001, is a single use transdermal non-competitive NMDA receptor antagonist intended for the treatment of post-surgical pain.
Quoin's proposed second product, QRX002, will be a once-daily transdermal NMDA receptor antagonist for the treatment of suicidal ideation in military veterans with PTSD.
Skinvisible said the potential merger with Quoin is the best option for the company and may offer significant value to shareholders as Quoin commences and progresses with its clinical development plans.
Skinvisible Pharmaceuticals, Inc. is a research and development company that licenses its proprietary formulations made with Invisicare, its patented polymer delivery system that offers life-cycle management and unique enhancements for topically delivered products.
Quoin Pharmaceuticals, Inc. is a specialty pharmaceutical company dedicated to developing products that help address major societal issues including the opioid crisis and the military veteran suicide rate.
Quoin's two lead products are expected to be different applications of an NMDA receptor antagonist delivered transdermally. QRX001 is a single use transdermal patch designed to provide up to 72 hours of effective post-operative analgesia while reducing opioid consumption.
Target: Quoin Pharmaceuticals
Buyer: Skinvisible, Inc
Deal size in USD: 10m
Type: Corporate Acquisition
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Dec 5, 2017|
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