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NEW YORK, Feb. 18, 2021 /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company, today announced that it intends to expand the development of the HT-003 active pharmaceutical ingredient (API) to pursue a new indication for the treatment of inflammatory bowel diseases (IBDs), including Crohn's disease and ulcerative colitis. Hoth executed an option agreement with Isoprene Pharmaceuticals, Inc. ("Isoprene") to investigate the potential for the HT-003 API as an IBD therapeutic. Isoprene is a University of Maryland, Baltimore New Venture Initiative start-up company.
IBDs represent a large health burden in the United States, affecting approximately 3 million adults age 18 years and older that continues to increase each year.1 IBDs are characterized by an inflammation-mediated disease pathology as a result of an excessive mucosal adaptive and innate immune response within the gastrointestinal tract. Recent data in published literature suggests that aberrant retinoic acid regulation may contribute to the underlying inflammatory mechanism that causes IBD symptoms, and restoring retinoic acid homeostasis may provide a potential therapeutic benefit.2 The API of HT-003 has demonstrated anti-inflammatory properties and targets the retinoic acid metabolism pathway.
Hoth plans to investigate the therapeutic potential of the HT-003 API using relevant ex vivo tissue models and other in vitro molecular studies. This work will complement Hoth's current research activities investigating the therapeutic potential of HT-003 for the treatment of acne and psoriasis as a comprehensive therapeutic drug platform.
"The in vitro results generated for HT-003 show promising anti-inflammatory properties that have the potential to translate to other inflammation-driven diseases, such as IBDs," stated Dr. Stefanie Johns, PhD, Chief Scientific Officer of Hoth Therapeutics. "The chronic, severe symptoms associated IBDs in combination with the high frequency of treatment failures that still exist in this population represent a substantial burden on patient quality life. Hoth is excited to explore the potential of the HT-003 API as a IBD therapeutic as part of our mission to develop drugs for unmet medical needs."
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 https://ir.hoththerapeutics.com/.
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.
SOURCE Hoth Therapeutics, Inc.