NEW YORK, July 3, 2017 /PRNewswire/ -- Spherix
Incorporated (NASDAQ: SPEX) reported today, following the
disclosure made June 20th
2017, that the Company has closed the transaction with Hoth
Therapeutics. Hoth Therapeutics is a development stage
biopharmaceutical company focused on the development of
therapeutics for patients suffering from atopic dermatitis, such as
eczema.
Hoth Therapeutics is the exclusive sublicensee of proprietary,
patented, drug compounds developed at the University of Cincinnati and tested at the
University of Miami to treat
eczema. Eczema impacts millions Americans and represents a
multi-billion market in the U.S. alone.
Anthony Hayes, the CEO of Spherix
stated, "We are pleased to have completed this investment and to
begin working with Hoth to develop their exciting compound.
We believe this is an accretive asset that will deliver value to
our shareholders and show continuing efforts to build shareholder
value."
About Spherix
Spherix Incorporated was launched in 1967 as a scientific
research company. Spherix is committed to advancing innovation by
participation in the development of new technology. Spherix
draws on portfolios of pioneering technology to support product
innovation.
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. We are a small
company with limited financial resources and our scientific
background and abilities to implement a commercialization strategy
is subject to ever-changing market conditions and rapidly-advancing
technologies over which we have no control. While we believe that
these forward-looking statements are reasonable, market conditions
and competition in the marketplace is ever-changing and we have no
control over these influences. As a result, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation those set forth in the Company's
filings with the Securities and Exchange Commission (the "SEC")
including, but not limited to, the Risk Factors relating to the
Company's patent business and other aspects of the Company's
business contained therein. Thus, actual results could be
materially different. The Company expressly disclaims any
obligation to update or alter statements whether as a result of new
information, future events or otherwise, except as required by
law.
Contact:
Investor Relations
Inquires:
Spherix Investor Relations
Phone: (212) 745-1373
Email: investorrelations@spherix.com
Spherix Inc. Contact:
Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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SOURCE Spherix Incorporated