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Hoth Therapeutics to License Dermatological Diseases Treatment from Isoprene Pharmaceuticals
Tuesday 31 March 2020

US-based biopharmaceutical company Hoth Therapeutics, Inc. (NASDAQ: HOTH) has agreed to acquire full licensing rights of VNLG-152 novel retinamides for treatment of dermatological diseases from US cancer therapeutic provider Isoprene Pharmaceuticals, the company said.

The letter of intent contemplates that the company and Isoprene would enter into a definitive agreement pursuant to which Hoth will make a USD50,000 investment in Isoprene in the form of a convertible promissory note, which shall bear annual interest at a rate of 6%, and shall have a discount upon conversion of 10% from the equity purchase price of the qualified financing into which the promissory note converts.

As part of its licensing rights, Hoth will receive royalty payments from Isoprene for any use of its VNLG-152.

Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focussed on developing new generation therapies for dermatological disorders.

Isoprene is a cancer therapeutic company that is a University of Maryland, Baltimore New Venture Initiative start-up founded by Vincent Njar, the lead scientific inventor, which is developing novel small molecules for the treatment of cancer.
Date Published: 31/03/2020