Clinical-stage biopharmaceutical company Hoth Therapeutics Inc (NASDAQ: HOTH) announced on Thursday that it has signed a patent licence agreement with the US Department of Veterans Affairs (VA).

This agreement gives the company exclusive rights to a jointly owned patent portfolio co-developed by VA and Emory University.

The licensed technology centres on 'Glial Cell Line-Derived Neurotrophic Factor, Obesity and Obesity-Related Diseases and Conditions', a new development aimed at addressing critical challenges in treating obesity and related health conditions.

Hoth Therapeutics will have exclusive rights to develop, market and commercialise products and processes derived from the licensed patents. The company intends to further develop the technology with the aim of promoting to the widest audience possible.

Separately, Hoth Therapeutics has entered into an agreement to further protect its intellectual property by signing a letter of intent to acquire additional provisional patent protection for its lead therapeutic HT-001. The additional intellectual property expands HT-001's reach to other cancer therapeutics.