Hoth Therapeutics Licenses Lupus
Therapeutic Back to Zylö Therapeutics
Hoth to receive shares in Zylö and
potential future sales royalties
NEW YORK, NY December 8, 2021 -- InvestorsHub
NewsWire -- Hoth Therapeutics, Inc.
(NASDAQ:
HOTH), a clinical-stage biopharmaceutical company focused on
developing new generation therapies for unmet medical needs, is
pleased to announce that it has entered into an agreement with Zylö
Therapeutics ("Zylö") to license its novel cannabinoid therapeutic,
HT-005 for lupus patients, back to Zylö.
Hoth's CEO,
Robb Knie, stated "The licensing of HT-005 back to Zylö after
proving its efficacy and safety in animals is a win-win for both
companies. We are excited about Zylö's expertise in the cannabinoid
space and are pleased to receive both further equity in Zylö and
the potential upside through royalties. Hoth will also reap cost
savings, as Zylö will be responsible for future development
cost."
Scott
Pancoast, Zylö's CEO, stated, "Hoth has been a great partner,
working closely with the Zylö team to confirm efficacy in an animal
model and to strategize about the preclinical development
plan."
Therapeutic
options for CLE are limited to steroids (topical and oral), topical
calcineurin inhibitors, and other immunomodulating therapies that
could have adverse effects during long-term use. Zylö Therapeutics
has developed a patented topical delivery system using
xerogel-derived particles called Z-pods™. Hoth had an exclusive
license to develop HT-005, a drug that targets the endocannabinoid
pathway, encapsulated in the Z-pods™ to enhance absorption into the
skin. To investigate proof-of concept efficacy of HT-005 loaded
Z-pods™, Zylö Therapeutics conducted a study in MRL/lpr mice, an
established animal model that shows symptoms similar to systemic
lupus erythematosus (SLE) in humans. Results from the study
demonstrated that the novel HT-005 loaded Z-pods™ were effective in
reducing skin plaques associated with CLE, with statistical
significance demonstrated in the overall average skin score as well
as individual skin scores on the head and scapula.
About Hoth Therapeutics,
Inc.
Hoth Therapeutics, Inc. is a
clinical-stage biopharmaceutical company focused on developing new
generation therapies for unmet medical needs. Hoth's pipeline
development is focused to improve the quality of life for patients
suffering from indications including atopic dermatitis, skin
toxicities associated with cancer therapy, chronic wounds,
psoriasis, asthma, acne, and pneumonia. Hoth has also entered into
two different agreements to further the development of two
therapeutic prospects to prevent or treat COVID-19. To learn more,
please visit www.hoththerapeutics.com.
Forward-Looking
Statement
This press release includes
forward-looking statements based upon Hoth's current expectations
which may constitute forward-looking statements for the purposes of
the safe harbor provisions under the Private Securities Litigation
Reform Act of 1995 and other federal securities laws, and are
subject to substantial risks, uncertainties and assumptions. These
statements concern Hoth's business strategies; the timing of
regulatory submissions; the ability to obtain and maintain
regulatory approval of existing product candidates and any other
product candidates we may develop, and the labeling under any
approval we may obtain; the timing and costs of clinical trials,
the timing and costs of other expenses; market acceptance of our
products; the ultimate impact of the current Coronavirus pandemic,
or any other health epidemic, on our business, our clinical trials,
our research programs, healthcare systems or the global economy as
a whole; our intellectual property; our reliance on third party
organizations; our competitive position; our industry environment;
our anticipated financial and operating results, including
anticipated sources of revenues; our assumptions regarding the size
of the available market, benefits of our products, product pricing,
timing of product launches; management's expectation with respect
to future acquisitions; statements regarding our goals, intentions,
plans and expectations, including the introduction of new products
and markets; and our cash needs and financing plans. There are a
number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
You should not place reliance on these forward-looking statements,
which include words such as "could," "believe," "anticipate,"
"intend," "estimate," "expect," "may," "continue," "predict,"
"potential," "project" or similar terms, variations of such terms
or the negative of those terms. Although the Company believes that
the expectations reflected in the forward-looking statements are
reasonable, the Company cannot guarantee such outcomes. Hoth may
not realize its expectations, and its beliefs may not prove
correct. Actual results may differ materially from those indicated
by these forward-looking statements as a result of various
important factors, including, without limitation, market conditions
and the factors described in the section entitled "Risk Factors" in
Hoth's most recent Annual Report on Form 10-K and Hoth's other
filings made with the U. S. Securities and Exchange Commission. All
such statements speak only as of the date made. 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 applicable law.
Contact
Investor Contact:
LR Advisors LLC
Email: investorrelations@hoththerapeutics.com
www.hoththerapeutics.com
Phone: (678)
570-6791