Silo Pharma, Inc. Enters into Option Agreement with University of Maryland Baltimore for Central Nervous System-Homing Peptides – GlobeNewswire

October 13, 2020 08:45 ET | Source: Uppercut Brands, Inc.

NEW YORK, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTC Pink: SILO) a developmental stage biopharmaceutical company focused on the use of psilocybin as a therapeutic, announced that it has executed an option agreement with the University of Maryland, Baltimore with respect to the exploration of the potential use of central nervous system-homing peptides in vivo and their use for the investigation and treatment of multiple sclerosis and other neuroinflammatory pathology. Silo Pharmas intends to explore the development of unique therapeutics that utilize these CNS Homing Peptides. Silo plans on initiating studies to evaluate the potential use of this invention to deliver Psilocybin based therapeutics directly to targeted areas of a patient.

This technology refers to phage-encoded peptides identified as being unique, inflamed CNS-specific markers. These peptides zero in on the spinal cord and, to a lesser extent, the cerebellum, in a rodent model of Multiple Sclerosis (MS). These peptides are designed to address many challenges, as they are expected to be pathology-specific (damaged, inflamed tissue only), are tissue specific (CNS), and can be used as an imaging tool for inflammation of the spinal cord. As such, Silo Pharma believes that they may be used in the detection of diseased tissue and for targeting therapeutic agents to the CNS to treat MS and other neuroinflammatory diseases.

The option agreement gives Silo access to a potential unique and vital approach which significantly differentiates us within the Psilocybin space, stated Eric Weisblum Chairman and CEO of Silo Pharma. The ability to deliver psilocybin and other psychedelic compounds directly to targeted areas of the body with this technology could be significant by increasing the efficacy of the treatment while reducing the amount of medicine needed. There is a tremendous need for creative and unique therapeutics for patients suffering from rare diseases. We believe this novel approach coupled with our planned research of psilocybin as a therapeutic presents an exciting opportunity for the company.

About Silo Pharma

Silo Pharma is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, PTSD, Parkinsons, and other rare neurological disorders. Silos 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, visitwww.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 Companys technology platforms, retaining and expanding the Companys customer base, fluctuations in consumer spending on the Companys 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

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Silo Pharma, Inc. Enters into Option Agreement with University of Maryland Baltimore for Central Nervous System-Homing Peptides - GlobeNewswire