Silo Pharma extends agreement for experimental Rheumatoid Arthritis nanoparticle homing peptide

Rhea-AI Summary

Silo Pharma has extended its exclusive option agreement with the University of Maryland, Baltimore to investigate novel joint-homing peptides aimed at treating rheumatoid arthritis. This extension allows Silo more time to evaluate a potentially transformative therapeutic platform that could enhance drug delivery for traditional and psychedelic treatments, which may improve efficacy while reducing toxicity. CEO Eric Weisblum emphasized the significance of this technology for targeted therapy delivery.

Positive

• Extended option agreement with the University of Maryland, Baltimore for joint-homing peptides.
• Potential to enhance drug delivery for traditional therapeutics and psychedelic medicines.
• Possibility of increasing treatment efficacy while reducing medication dosage and toxicity.

Negative

• None.

Englewood Cliffs NJ, July 07, 2021 (GLOBE NEWSWIRE) --

• Silo and University of Maryland, Baltimore extend Option agreement
• Rheumatoid arthritis (RA) is a chronic disease in which autoimmune attack leads to joint inflammation, deformities and disability

Silo Pharma, Inc. (OTC QB: SILO), a developmental stage biopharmaceutical company, today announced that it has extended its exclusive option agreement with the University of Maryland, Baltimore to explore a novel invention generally known as “Joint-homing peptides for use in the investigation and treatment of arthritogenic processes.”

“This extended option gives Silo further evaluation period to access this unique and potentially vital therapeutic that can also act as a drug delivery platform,” stated Eric Weisblum, Chairman and CEO of Silo Pharma. “The ability to deliver traditional therapeutics, psilocybin or other psychedelic drugs directly to targeted areas of the body with this technology could be revolutionary by increasing the efficacy of the treatment while reducing toxicity and the amount of medication needed.”

About Silo Pharma
Silo Pharma is a development stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, PTSD, Parkinson’s, and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the health care industry.  For more information, visit www.silopharma.com.
Safe Harbor and Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of words “could”, “believe”, “anticipate”, “intend”, “estimate”, “expect”, “may”, “continue”, “predict”, “potential” and similar expressions that are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Silo Pharma, Inc. (“Silo” or “the Company”) to differ materially from the results expressed or implied by such statements, including changes to anticipated sources of revenues, future economic and competitive conditions, difficulties in developing the Company’s technology platforms, retaining and expanding the Company’s customer base, fluctuations in consumer spending on the Company’s products and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company disclaims any obligations to publicly update or release any revisions to the forward-looking information contained in this presentation, whether as a result of new information, future events, or otherwise, after the date of this presentation or to reflect the occurrence of unanticipated events except as required by law.
Investor Relations Contact:
Hayden IR
Brett Maas
646-536-7331
Email: brett@haydenir.com

FAQ

What is the latest news about Silo Pharma's agreement with the University of Maryland?

Silo Pharma has extended its option agreement with the University of Maryland, Baltimore to investigate joint-homing peptides for rheumatoid arthritis treatment.

How could the joint-homing peptides benefit Silo Pharma?

These peptides could enhance drug delivery, potentially improving the efficacy of traditional and psychedelic treatments while reducing toxicity.

What is the significance of the option agreement extension for SILO stockholders?

The extension provides Silo more time to evaluate a potentially transformative therapeutic platform, which could positively influence its market position.

When was the press release about Silo Pharma's agreement issued?

The press release was issued on July 7, 2021.