Silo Pharma (SILO) entered a nonbinding letter of intent with Hoth Therapeutics (HOTH) to form a 50-50 joint venture aimed at developing and commercialize treatments for obesity and metabolic diseases.
The initiative will build on Hoth's technology, which is exclusively licensed from the US Department of Veterans Affairs and co-developed with Emory University, Silo Pharma said Wednesday in a statement.
Silo Pharma shares eased 0.1% in recent trading Wednesday, and Hoth Therapeutics fell 4.1%.
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