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Hoth Therapeutics, Inc. Expands Working Relationship with the George Washington University and Enters Exclusive License Option Agreement
NEW YORK, July 15, 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 that it has entered into an exclusive license option agreement with the George Washington University (GW) pertaining to its intellectual property on the use of Aprepitant in treating skin-related and other side effects from drugs used to treat cancer.
Under the terms of the agreement, Hoth has an option to exclusively license two U.S. patents (Nos. 9,474,761 and 9,687,493) covering methods of using Aprepitant or other drugs that inhibit neurokinin-1 (NK-1) receptor function.
This agreement complements the rights provided to Hoth under the recently announced research collaboration with inventor William B. Weglicki, M.D.'s laboratory at GW, which includes an option for Hoth to license any future inventions that may arise from the ongoing Hoth-funded studies at GW.
Should Hoth choose to license a product for further development and sales, the company will reward GW with financial milestones and royalties. Hoth and Dr. Weglicki see potential for a significant impact on ability of cancer patients to complete their prescribed treatment regimens.
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.