Hoth Therapeutics (HOTH) and Silo Pharma (NASDAQ: SILO) today announced the formation of a 50/50 joint venture to develop a first-in-class GDNF-based therapy licensed from the U.S. Department of Veterans Affairs. The therapy targets obesity and fatty liver disease.

*Hoth Therapeutics and Silo Pharma Launch Joint Venture to Commercialize VA-Invented Obesity Drug Targeting $100B+ Global Market Exclusive License from U.S. Department of Veterans Affairs to Advance GDNF-Based Therapy for Obesity and Fatty Liver Disease , /PRNewswire/ -- Hoth Therapeutics, Inc. (NASDAQ: HOTH) and Silo Pharma, Inc. (NASDAQ: SILO) today announced the formation of a strategic joint venture to develop and commercialize a first-in-class treatment for obesity and metabolic disease based on technology exclusively licensed from the U.S. Department of Veterans Affairs (VA). The novel therapeutic platform centers on Glial Cell Line-Derived Neurotrophic Factor (GDNF), a VA-invented biologic with demonstrated anti-obesity effects and metabolic regulation in preclinical models. The platform is protected under U.S. Patent No. 10,052,362 and targets multiple high-burden conditions including non-alcoholic fatty liver disease (NAFLD), type 2 diabetes, and central obesity. "This VA-originated obesity technology has the potential to disrupt a $100B+ market and deliver life-changing impact for millions, including veterans disproportionately affected by metabolic disorders," said Robb Knie, CEO of Hoth Therapeutics. "We are proud to partner with Silo Pharma to bring this powerful innovation to the public." "With obesity at epidemic levels and no curative therapies available, we believe GDNF is a game-changer," added Eric Weisblum, CEO of Silo Pharma. "This collaboration with Hoth and the VA aligns with our mission to accelerate groundbreaking science into human trials." Deal Highlights: Exclusive U.S. License from the U.S. Department of Veterans Affairs covering all fields of use 50/50 Joint Venture structure with equal equity and governance participation Lead Indication: Obesity and NAFLD — Unmet Need **Obesity affects over 40% of U.S. adults and is a leading risk factor for diabetes, cardiovascular disease, and liver failure. Veterans are especially impacted due to chronic inflammation, PTSD-linked metabolic disruption, and access challenges to effective care. There are no approved curative biologics targeting the neuroinflammatory root of obesity — a gap this VA-originated technology is uniquely positioned to fill. Strategic Alignment This partnership leverages: The clinical infrastructure and public mission of the VA Hoth's regulatory and development expertise Silo's translational capabilities and capital efficiency *https://www.pharmaceutical-technology.com/analyst-comment/obesity-market-173-5-billion-2031/#:~:text=Data%20Insights,of%20patients%20treated%20with%20pharmacotherapy. **https://www.cbsnews.com/news/obesity-rate-us-adults-cdc-data-map/ About Hoth Therapeutics, Inc.Hoth Therapeutics 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 StatementThis 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, and 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, and 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 titled "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. Investor Contact:LR Advisors LLC Email: [email protected]www.hoththerapeutics.comPhone: (678) 570-6791 SOURCE Hoth Therapeutics, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Hoth Therapeutics (HOTH) and Silo Pharma (NASDAQ: SILO) today announced the formation of a 50/50 joint venture to develop a first-in-class GDNF-based therapy licensed from the U.S. Department of Veterans Affairs. The therapy targets obesity and fatty liver disease.

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