Silo Pharma Reaches Terms with University of Maryland Baltimore for Exclusive License of Central Nervous Homing Peptide for Neuroinflammatory Disease
The exercise of the option agreement allows for Silo to negotiate an exclusive patent license agreement.
Englewood Cliffs, NJ, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTCQB: SILO), 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, announced today it has exercised its option to take an exclusive license for patents owned by the University of Maryland Baltimore for the treatment of Neuroinflammatory Disease.
The exercise of the option agreement allows for Silo to negotiate an exclusive patent license agreement. The option agreement included pre-negotiated business terms for the exclusive patent license, which we expect to finalize shortly.
Mr. Eric Weisblum, Chairman and CEO of Silo Pharma, commented, “Silo is pleased to advance our research collaboration with UMB in the fight against Neuroinflammatory diseases. We are focused on the development of this novel therapeutic targeting those who have been afflicted with CNS inflammatory diseases. Management looks forward to sharing the preclinical results of this Novel Homing Peptide upon completion of our initial study in connection with UMB."
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, 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.
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