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Hoth Therapeutics Forms Wholly Owned Australian Subsidiary, in Preparation of Upcoming Clinical Trials for Atopic Dermatitis Solution
NEW YORK, June 6, 2019 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis-also known as eczema-as well as dermatological and chronic wound disorders, today announced the formation of its subsidiary, Hoth Therapeutics Australia Pty Ltd, in anticipation to perform clinical trials for atopic dermatitis.
Hoth Therapeutics Australia Pty Ltd will oversee the preparation and execution of Hoth's first clinical trial, known as Efficacy and Safety of BioLexa for the Treatment of Mild-to-Moderate Atopic Dermatitis. The newly formed entity will also be eligible for a significant Research and Development tax rebate. The subsidiary will supervise data management, biostatistical, medical monitoring, quality insurance, regulatory and central laboratory services to support the trial.
"We are excited by the opportunity to work with Australian researchers and members of the international pharmaceutical industry, in regards to the development of our proprietary atopic dermatitis treatment," stated Mr. Robb Knie, CEO of Hoth Therapeutics. "This endeavor is a significant milestone for us, as we move towards clinical trials. Hoth is committed to working diligently with physicians, and regulators in order to successfully pilot our BioLexa Platform to the millions of people that are afflicted with atopic dermatitis."
The subsidiary was formed in connection with Novotech and CoSec Consulting. Headquartered in Australia since 1996 and operating in the Asia Pacific region, Novotech is internationally recognized in the industry as a leading regional full-service contract research organization. Cosec Consulting provides carefully crafted compliance, governance and financial solutions for offshore companies undertaking research and development activities in Australia.
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc., a Nevada corporation, is a biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis, also known as eczema. Hoth has exclusive worldwide rights to the BioLexa Platform.
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.
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SOURCE Hoth Therapeutics, Inc.