Tuesday, June 11, 2019
Hoth Begins Production of BioLexa Therapeutic for Upcoming Trials
Hoth Therapeutics, Inc. (NASDAQ:HOTH), a biopharmaceutical company focused on unique targeted therapeutics for patients suffering from indications such as atopic dermatitis-also known as eczema-as well as dermatological and chronic wound disorders, today announced it has signed contracts with providers for production of their BioLexa therapeutic, in preparation for upcoming toxicology and clinical studies.
Hoth has begun preparations for the testing of its formulation for both active and vehicle stability. The Company has engaged the services of both Particle Sciences, Inc. and Regis Technologies, Inc., in order to fulfill the necessary formulation and production of both Good Laboratory Practice (GLP) and Good Manufacturing Practice (GMP) of its biopharmaceutical. The BioLexa Platform is a proprietary, patented antimicrobial therapy designed for the treatment of atopic dermatitis. The therapeutic offers a non-corticosteroid approach treating atopic dermatitis.
“Management is extremely pleased to announce this significant step in our developmental track,” stated Robb Knie, CEO of Hoth Therapeutics. “Atopic dermatitis often has a negative impact on patients’ overall health and quality of life. Current treatments, such as topical corticosteroids and other treatments frequently carry harsh side effects. Hoth looks forward to initiating these clinical trials, as we believe that our BioLexa therapeutic has the potential to become a much needed treatment for this underserved market.”
Enzo eyes profitability via cutting lab costs
Enzo said that it is in “active discussions with several leading life sciences and medical device companies,” and automated systems manufacturers to develop strategic relationships covering three platforms — molecular diagnostics, immunohistochemistry, and Enzo’s ELISA platform. The conversations are focused on automation and manufacturing, distribution and marketing, and product sales. The company’s goal is to announce at least one relationship by the end of calendar year 2019, Enzo said.
Additionally, the company said that it is introducing a new business model for labs in which Enzo will be the “central capability” for smaller labs. Such labs would capitalize on Enzo’s scale in high-value and lower-cost operations, proprietary intellectual property and products, and long-term experience in innovation and commitment to medical solutions.
The formal rollout of the program is anticipated by the end of 2019, Enzo said.
To return to profitability, it said that it is working to aggressively control operational costs in the lab segment. Further, it is developing growth initiatives to capitalize on the firm’s intellectual property and integrated approach to manufacturing. Lastly, it will pursue revenue opportunities through IP development and innovation. Such efforts will leverage opportunities in licensing its IP, as well as business development and litigation, it said.
Cost reduction improvements are expected to continue throughout fiscal 2020, and a return to operating profitability at the labs is anticipated to happen in early calendar 2020, Enzo said.
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