NEW YORK , July 09, 2020 (GLOBE NEWSWIRE) -- Voltron Therapeutics, Inc. (the Company) announced today it has retained Buenaventura Advisors, LLC to explore strategic alternatives for HaloVax, a biopharmaceutical company and special purpose subsidiary of Voltron Therapeutics, Inc. HaloVax was formed to develop a novel, self-assembling vaccine against COVID-19 utilizing technology licensed from the Vaccine and Immunotherapy Center at Harvard’s Massachusetts General Hospital. The vaccine is being developed in conjunction with Hoth Therapeutics, Inc (NASDAQ: HOTH).
The HaloVax product development technology is in initial animal testing and it is now seeking strategic opportunities to provide the resources necessary to accelerate development of the vaccine and maximize shareholder value. Buenaventura will counsel the Company on the exploration of strategic alternatives including licensing, co-development opportunities and possible outright sale.
The vaccine has been developed using unique proprietary technology to create a differentiated immune response to the COVID-19 virus.
“The team at Voltron and MGH has made tremendous progress in designing, manufacturing and initiating testing on our novel COVID-19 vaccine” stated Pat Gallagher, CEO of Voltron Therapeutics. “Given the importance of our approach to the COVID pandemic, we would like to devote the resources required to move the vaccine into human testing as rapidly and safely as possible.”
About Voltron Therapeutics, Inc.
Voltron Therapeutics, Inc., a Delaware corporation, was founded in 2017 to lead and accelerate the development of the Vaccine and Immunotherapy Center (VIC), and the Massachusetts General Hospital's novel Self Assembling Vaccine technology in a variety of indications, including in Oncology and emerging Infectious Diseases. Voltron holds an exclusive worldwide license to this technology. With the work of our world class team of researchers and physicians, this technology has shown in certain pre-clinical studies initial proof of concept in two infectious diseases (Lassa Fever and Q Fever) as well as two oncology indications (Ovarian and HPV Related). For more information please visit www.voltrontx.com.
About HaloVax™, LLC
HaloVax, LLC is a special purpose subsidiary of Voltron Therapeutics, Inc. The mission of HaloVax is to develop a novel, Self-Assembling Vaccine against COVID-19, utilizing technology licensed by Voltron Therapeutics, Inc. from the Vaccine and Immunotherapeutics Center at the Massachusetts General Hospital. The vaccine is being designed from a validated platform to provide customized cellular immunity against COVID-19, as well as be able to adapt rapidly to potential genetic drift of the virus. For more information, please visit www.HaloVax.com.
About Hoth Therapeutics, Inc.
Hoth Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing new generation therapies for dermatological disorders. Hoth's pipeline has the potential to improve the quality of life for patients suffering from indications including atopic dermatitis, chronic wounds, psoriasis, asthma and acne. To learn more, please visit www.hoththerapeutics.com.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements that relate to the advancement and development of the VaxCelerate Platform, the commencement of clinical trials, the availability of data from clinical trials and other information that is not historical information. When used herein, words such as "anticipate", "being", "will", "plan", "may", "continue", and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon Voltron's current expectations and various assumptions. Voltron believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Voltron may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and any Voltron filings made with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as Voltron's current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. Voltron cannot guarantee future results, events, levels of activity, performance or achievements. Voltron 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 law.
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