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.