Silo Pharma Finalizes Sublicense Deal for its Targeted Psilocybin Cancer Therapeutic Technology

Rhea-AI Summary

Silo Pharma, Inc. (OTCQB: SILO), a biopharmaceutical company focusing on psilocybin therapy, has finalized a sublicense agreement related to its provisional patent for CNS homing peptides aimed at treating pain from neuroinflammation in cancer patients. CEO Eric Weisblum expressed enthusiasm for the collaboration and emphasized the company's commitment to creating shareholder value while developing innovative therapeutics. The news comes on the heels of an earlier Letter of Intent from February, highlighting Silo's strategic growth.

Positive

• Finalization of sublicense agreement could expand research and application of novel peptides.
• Potential therapeutic advancements for cancer patients with neuroinflammation.

Negative

• The company is still at a developmental stage, which may pose risks in successful commercialization.
• Forward-looking statements contain inherent uncertainties that could impact future performance.

Agreement to explore the use of Silo Pharma’s Novel Peptide

Englewood Cliffs, NJ, April 07, 2021 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTCQB: SILO) a developmental stage biopharmaceutical company focused on the use of psilocybin as a therapeutic, today announced that it has finalized an agreement to sublicense the technology covered by its recently announced provisional patent applications filed with the United States Patent and Trademark Office (USPTO). The patent applications pertain to Silo Pharma’s novel and proprietary central nervous system (CNS) homing peptides for use in the therapeutic treatment of pain from neuroinflammation in cancer patients.

Eric Weisblum, CEO of Silo Pharma, Inc, stated “We are excited about the next steps of this relationship and the sublicense culminates the previous Letter of Intent announced earlier in February. We are pleased to have a broader team of industry participants working to explore and expand the use of our novel peptides. As a company, we believe that Silo Pharma’s greatest purpose is to create value for its shareholders while working diligently to develop a new novel class of therapeutics for patients suffering from debilitating afflictions, such as cancer.”

About Silo Pharma 
Silo Pharma. Inc. is a developmental 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 recent agreement announced by Silo Pharma (SILO)?

Silo Pharma announced a finalized sublicense agreement for its technology related to CNS homing peptides aimed at treating pain from neuroinflammation in cancer patients.

When was the agreement for the sublicense by Silo Pharma finalized?

The sublicense agreement was finalized on April 07, 2021.

What therapeutic area does Silo Pharma focus on?

Silo Pharma focuses on merging traditional therapeutics with psychedelic research, particularly for conditions such as cancer, depression, and PTSD.

What are CNS homing peptides in relation to Silo Pharma's technology?

CNS homing peptides are proprietary compounds that target the central nervous system, with applications in treating neuroinflammation and pain in cancer patients.

Who is the CEO of Silo Pharma and what was their statement regarding the new agreement?

Eric Weisblum is the CEO of Silo Pharma, and he expressed excitement about the agreement and the potential for expanding the use of their novel peptides.