Loren III was the uninhabited third planet in the Loren system. This was the only planet capable of supporting life near the Kurlan system. Loren III was located outside Federation territory.
Loren III was one of the planets seeded with part of a genetic program by the ancient humanoids 4.5 billion years ago. In 2369, Professor Galen collected a DNA sample from Loren III as part of his quest to piece together the program, though it was taken by the Yridians. The USS Enterprise-D returned to the planet to collect another sample, where it encountered two Cardassian cruisers and the IKS Maht-H'a. (TNG: "The Chase")
When Loren III is first mentioned, Picard quite clearly says that it is in the Kurlan system, despite the script using the word near instead. However, once the ship arrives at the planet it is specifically described as the third planet in the Loren system.