Hoth Therapeutics Exercises Patent Licensing Option with the George Washington University to Further Develop a Therapeutic for Cancer Patients Suffering Cutaneous Changes Like Rash and Hair Loss, as Well as Other Neurogenic Inflammation Side Effects
NEW YORK, Jan. 15, 2020 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company focused on unique targeted therapeutics for patients suffering from dermatological indications ranging from atopic dermatitis, psoriasis and acne along with gene therapy treatment for asthmatics, announced today it has exercised its option to take an exclusive license for patents owned by the George Washington University (GW). Hoth used the option period to evaluate GW's unique Substance P receptor blocker (Aprepitant) that inhibited cutaneous and other neurogenic inflammation side effects that cancer patients suffer during treatment with anticancer drugs. The exercise of the option agreement allows for Hoth to negotiate an exclusive patent license agreement. The option agreement included pre-negotiated business terms for the exclusive patent license, so Hoth anticipates finalizing the license this month.
In June of 2019, Hoth entered into a sponsored research agreement with GW to explore the potential use of Aprepitant in different forms.
Mr. Robb Knie, Chief Executive Officer of Hoth, commented, "Our research collaboration with GW has yielded positive preliminary results. Our next step will be to plan for the quickest pathway to help patients suffering from adverse events, often so severe that they impair the patient's compliance with the anticancer treatment and even cause its discontinuation. Management looks forward to sharing the preclinical results of our unique formulation of this topical therapeutic upon its completion later this year."
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders. HOTH's pipeline has the potential to improve the quality of life for patients suffering from indications including atopic dermatitis, chronic wounds, psoriasis, and acne. HOTH has the exclusive worldwide rights to BioLexa, the company's proprietary lead drug candidate topical platform that uniquely combines two FDA approved compounds to fight bacterial infections across multiple indications. HOTH is preparing to launch its clinical trial for the treatment of adolescent subjects, 2-17 years of age, with mild to moderate atopic dermatitis during 2020. To learn more, please visit www.hoththerapeutics.com.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements that relate to the advancement and development of the BioLexa Platform, the commencement of clinical trials, the availability of data from clinical trials and other information that is not historical information. When used herein, words such as "anticipate", "being", "will", "plan", "may", "continue", and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Hoth's current expectations and various assumptions. Hoth believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Hoth may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described under the caption "Risk Factors" in Hoth's Form 10K for the period ending December 31, 2018, and Hoth's other filings made with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as Hoth's current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. Hoth cannot guarantee future results, events, levels of activity, performance or achievements. Hoth does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by law.
KCSA Strategic Communications
Valter Pinto / Daniela Guerrero
(212) 896-1254 / (212) 682-6300
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SOURCE Hoth Therapeutics, Inc.