(RTTNews) - Shares of Hoth Therapeutics, Inc. (HOTH) are climbing more than 110% Monday morning after the company announced its deal with Voltron Therapeutics, Inc. to jointly develop Self-Assembling Vaccine (SAV) for the prevention of the COVID-19.
Hoth Therapeutics and Voltron are to form HaloVax, a joint venture company to commence preclinical studies for the development of vaccine to prevent coronavirus based upon VaxCelerate, a self-assembling vaccine (SAV) platform exclusively licensed by Voltron from the Vaccine and Immunotherapy Center (VIC) at Massachusetts General Hospital.
As per the deal, Hoth will be given the right to receive single digit royalties from the sale of any products developed, and to acquire up to a 30% equity interest in HaloVax.
Dr. Michael Callahan, Chief of Translational Medicine, Vaccine and Immunotherapy Center, of MGH said, "We believe this SAV technology developed at the VIC, which has proof of concept data in infectious diseases and oncology in four animal models, has the potential to assist in the rapid development and testing of products to prevent, intercept or treat COVID-19.
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