The new wholly owned subsidiary will screen
for rare disease therapeutics.
NEW
YORK, Oct. 5, 2023 /PRNewswire/ -- Hoth
Therapeutics, Inc. (NASDAQ: HOTH), a patient focused
biopharmaceutical company, today announced, its initiative to
utilize Artificial Intelligence to both screen its current pipeline
as well as utilize AI for licensing opportunities in acquiring or
partnering novel therapeutics for rare diseases.
Hoth will form and operate a new wholly owned subsidiary named
Merveille.ai, which will focus on screening for collaborative
opportunities utilizing Artificial Intelligence in the field of
drug discovery.
Robb Knie, Chief Executive
Officer of Hoth, stated, "We believe our current pipeline might
have new unscreened opportunities to help patients dealing with
rare diseases. We hope to utilize AI to further enhance our
pipeline and partnering opportunities."
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc.
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 Hoth may develop, and the labeling under any
approval Hoth may obtain; the timing and costs of clinical trials,
the timing and costs of other expenses; market acceptance of Hoth's
products; the ultimate impact of the current Coronavirus pandemic,
or any other health epidemic, on Hoth's business, its clinical
trials, its research programs, healthcare systems or the global
economy as a whole; Hoth's intellectual property; Hoth's reliance
on third party organizations; Hoth's competitive position; Hoth's
industry environment; Hoth's anticipated financial and operating
results, including anticipated sources of revenues; Hoth's
assumptions regarding the size of the available market, benefits of
Hoth's products, product pricing, timing of product launches;
management's expectation with respect to future acquisitions;
statements regarding Hoth's goals, intentions, plans and
expectations, including the introduction of new products and
markets; and Hoth's cash needs and financing plans. More
particularly and without limitation, this news release contains
forward-looking statements and information concerning the proposed
transaction. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations, or intentions regarding the future.
Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
transaction will be consummated or that the parties' other plans,
intentions, or expectations upon which they are based will occur.
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 undue 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
Hoth believes that the expectations reflected in the
forward-looking statements are reasonable, Hoth 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 of this
press release. Consequently, forward-looking statements should be
regarded solely as Hoth's current plans, estimates, and beliefs.
Hoth cannot guarantee future results, events, levels of activity,
performance, or achievements. Hoth does not undertake and
specifically declines any obligation to update 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.