Hoth Therapeutics Announces Issuance of First U.S. Patent on its BioLexa Platform
Patent Covers Proprietary Compositions for Eczema Treatment
NEW YORK, Dec. 4, 2017 /PRNewswire/ -- Hoth Therapeutics, a development stage biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis, also known as eczema, today announced the issuance of the first U.S. patent relating to Hoth's BioLexa Platform. On November 21, 2017, the United States Patent and Trademark Office ("USPTO") issued U.S. Patent No. 9,821,063 entitled "Antimicrobial compositions of aminoglycosidic antibiotics and zinc ion chelators specifically formulated for enhanced inhibition of bacterial colonization and antibacterial efficacy." The new patent is part of the technology portfolio Hoth is developing under an exclusive license from the University of Cincinnati ("UC").
Hoth's BioLexa Platform is a proprietary, patented, drug compound platform developed at UC. Dr. Andrew Herr, Ph.D, the developer of the technology and a member of Hoth's Technology Advisory Board, is a listed inventor on the new patent. The claims of the patent encompass key pharmaceutical compositions for which Hoth intends to pursue regulatory approval and commercialization.
Robb Knie, Hoth CEO stated, "We are extremely pleased that the USPTO has issued this patent, providing valuable intellectual property in our BioLexa Platform. This patent is a key component to the growing value of the Company."
Anthony Hayes, CEO of Spherix Incorporated (NASDAQ: SPEX), which is a large shareholder of Hoth, stated, "This new patent evidences the strength of our investment in Hoth. We look forward to Hoth's pursuit of commercialization of this valuable technology platform."
About Hoth Therapeutics Incorporated
Hoth Therapeutics Inc., a Nevada corporation, is a development stage biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis, also known as eczema.
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. While the Company believes these forward-looking statements are reasonable, 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"), not limited to Risk Factors relating to its patent 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.
SOURCE Hoth Therapeutics Inc.