Spherix Inc. Announces Definitive Terms Reached to Acquire Controlling Interest in Hoth Therapeutics, a Biopharmaceutical Company Developing its BioLexa Platform to Treat Skin Illness Such...
SPHERIX (SPEX)
US:NASDAQ Investor Relations:
spherix.com/investors.php
Company Research
Source: PR Newswire
NEW YORK, June 20, 2017 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) announced today that the Company has negotiated definitive terms to acquire a controlling interest in Hoth Therapeutics, a development stage biopharmaceutical company focused on the development of therapeutics for patients suffering from atopic dermatitis, such as eczema. Closing of the deal with Hoth is subject to the completion and execution of customary closing documents, which the Company expects to be completed within 30 days or less. Hoth Therapeutics is the licensee of proprietary, patented, drug compounds developed at the University of Cincinnati. Eczema is a disease which results in inflammation of the skin and characterized by rash, red skin, and itchiness. According to a GlobalData PharmaPoint research report, eczema impacts millions of Americans and expected to represent a $5.6 billion market by 2022. Anthony Hayes, the CEO of Spherix stated, "Hoth is
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