NEW YORK, April 2, 2020 /PRNewswire/ -- Hoth Therapeutics,
Inc. (NASDAQ: HOTH), a biopharmaceutical company, today
announced its joint venture
entity with Voltron Therapeutics, Inc., HaloVax, has entered into a
Sponsored Research Agreement with the Vaccine and Immunotherapy
Center (VIC) of the Massachusetts General Hospital (MGH). The
goal of this partnership is to co-develop a new vaccine designed to
protect patients at risk of novel coronavirus (COVID-19) infection,
leveraging the Self-Assembling Vaccine (SAV) platform developed by
the VIC and licensed exclusively to Voltron Therapeutics,
Inc. Voltron will spearhead the development along with its
joint development partner Hoth.
The vaccine is expected to enter animal testing within the next
30 days. The rapid advancement of this collaboration highlights the
partnership between HaloVax and Hoth Therapeutics, to advance this
application of VaxCelerate, the SAV platform licensed from the VIC
at MGH for vaccine development.
Dr. Mark Poznansky, Director,
Vaccine and Immunotherapy Center, MGH stated, "The self-assembling
vaccine has been designed to be highly adaptable, allowing for
seamless modifications in the face of potential genetic drifts or
future coronaviruses."
Pursuant to an agreement announced on March 23, 2020, Hoth shall be granted the right
to receive single digit royalties from the sale of any products
developed, and shall have the right to acquire up to a 30% equity
interest in HaloVax, HaloVax, LLC is a special purpose subsidiary
of Voltron Therapeutics, Inc.
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, asthma and
acne. Hoth recently entered into a Joint Development Agreement to
further the development of vaccine prospects to prevent,
intercept or treat the Coronavirus (COVID-19) based upon
VaxCelerate, a self-assembling vaccine (SAV) platform exclusively
licensed by Voltron from the Vaccine and Immunotherapy Center (VIC)
at Massachusetts General Hospital (MGH).
To learn more, please visit www.hoththerapeutics.com.
About Voltron Therapeutics, Inc.
Voltron
Therapeutics, Inc., a Delaware
corporation, was founded in 2017 to lead and accelerate the
development of the Vaccine and Immunotherapy Center (VIC), and the
Massachusetts General Hospital's novel Self Assembling Vaccine
technology in a variety of indications, including in Oncology and
emerging Infectious Diseases. Voltron holds an exclusive worldwide
license to this technology. For more information please visit
www.voltrontx.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 joint venture and the
preclinical development of the SAV technology for COVID-19 and the
potential development of products related to COVID-19 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, 2019, 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.
Contacts
Investor Relations Contact:
Phone: (646) 756-2997
Email: investorrelations@hoththerapeutics.com
www.hoththerapeutics.com
KCSA Strategic Communications
Valter Pinto, Managing Director
(212) 896-1254
Hoth@kcsa.com
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SOURCE Hoth Therapeutics, Inc.