Hoth Therapeutics Enters Partnership with the Department of Veterans Affairs to Develop Obesity Treatment

Rhea-AI Summary

Hoth Therapeutics (NASDAQ: HOTH) has entered into an exclusive patent license agreement with the U.S. Department of Veterans Affairs (VA) and Emory University for technology focused on 'Glial Cell Line-Derived Neurotrophic Factor, Obesity, and Obesity-Related Diseases and Conditions.' The agreement grants Hoth exclusive rights to develop, market, and commercialize products from the licensed patents.

Additionally, Hoth has signed an LOI to acquire additional provisional patent protection for its lead therapeutic HT-001, expanding its application to other cancer therapeutics. The company plans to advance the obesity-related technology from research through commercialization following a comprehensive development plan.

Positive

• Secured exclusive patent license agreement with VA and Emory University for obesity treatment technology
• Expanded intellectual property protection for HT-001 cancer therapeutic
• Gained exclusive rights for development, marketing, and commercialization of obesity-related patents

Negative

• None.

Hoth Therapeutics Enters Exclusive Patent License Agreement with VA and Emory University

Hoth Also Expands Its' Intellectual Property to Further Its' Market Opportunity for HT-001

NEW YORK, Dec. 26, 2024 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company focused on developing innovative therapies, today announced that it has entered into an exclusive patent license agreement with the U.S. Department of Veterans Affairs (VA). This agreement provides Hoth with exclusive rights to a jointly owned patent portfolio co-developed by the VA and Emory University.

The licensed technology centers on "Glial Cell Line-Derived Neurotrophic Factor, Obesity, and Obesity-Related Diseases and Conditions," a groundbreaking innovation aimed at addressing critical challenges in treating obesity and associated health conditions. This agreement underscores Hoth Therapeutics' commitment to advancing transformative healthcare solutions.

Under the terms of the agreement, Hoth Therapeutics will have exclusive rights to develop, market, and commercialize products and processes derived from the licensed patents. The VA and Emory University have granted Hoth this license to further develop the technology with the goal of ensuring the benefits of this innovation are accessible to the widest audience possible.

"We are honored to collaborate with the VA and Emory University to bring this cutting-edge technology to market," said Robb Knie, Chief Executive Officer of Hoth Therapeutics. "This partnership represents a significant milestone in our efforts to address obesity and related health conditions with innovative, science-driven solutions. We look forward to advancing this critical work to improve the lives of patients worldwide."

The agreement includes a comprehensive development plan, ensuring the continued progress of this technology from the research phase through commercialization. Hoth Therapeutics plans to leverage its expertise and resources to bring the licensed products to the point of practical application while adhering to rigorous development benchmarks.

This collaboration exemplifies Hoth's dedication to fostering partnerships that advance scientific discoveries into therapeutic solutions. The company remains steadfast in its mission to improve patient outcomes and address unmet medical needs.

Hoth has also entered into an agreement to further protect its intellectual property by signing an LOI to acquire additional provisional patent protection for its lead therapeutic HT-001. The additional intellectual property expands HT-001's reach to other cancer therapeutics.

About Hoth Therapeutics, Inc.

Hoth Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing innovative, impactful, and ground-breaking treatments with a goal to improve patient quality of life. We are a catalyst in early-stage pharmaceutical research and development, elevating drugs from the bench to pre-clinical and clinical testing. Utilizing a patient-centric approach, we collaborate and partner with a team of scientists, clinicians, and key opinion leaders to seek out and investigate therapeutics that hold immense potential to create breakthroughs and diversify treatment options. To learn more, please visit https://ir.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, and the timing and costs of other expenses; market acceptance of our products; the ultimate impact of  any 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, and 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; our cash needs and financing plans; and the long-term value of Bitcoin. 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, risks inherent with investing in Bitcoin, including Bitcoin's volatility and risk of implementing a new Bitcoin treasury strategy, and the factors described in the section titled "Risk Factors" in Hoth's most recent Annual Report on Form 10-Kas amended or supplemented by 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.

Investor Contact:
LR Advisors LLC Email: investorrelations@hoththerapeutics.com
www.hoththerapeutics.com
Phone: (678) 570-6791

 

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SOURCE Hoth Therapeutics, Inc.

FAQ

What is the new patent license agreement between Hoth Therapeutics (HOTH) and the VA about?

The agreement gives Hoth exclusive rights to patents related to Glial Cell Line-Derived Neurotrophic Factor for obesity and obesity-related conditions, jointly owned by the VA and Emory University.

How will the VA partnership affect Hoth Therapeutics' (HOTH) product pipeline?

The partnership allows Hoth to develop, market, and commercialize products derived from the licensed obesity-related patents, expanding their therapeutic portfolio.

What expansion did Hoth Therapeutics (HOTH) announce for HT-001?

Hoth signed an LOI to acquire additional provisional patent protection for HT-001, expanding its application to other cancer therapeutics.

What are the development plans for Hoth's (HOTH) new obesity treatment technology?

Hoth plans to advance the technology from research through commercialization following a comprehensive development plan with specific benchmarks.