Silo Pharma’s SPU-21 Treatment for Autoimmune Disease Awarded U.S. Patent
June 21 2023 - 8:00AM
Silo Pharma, Inc. (Nasdaq: SILO) (“the Company”), a
developmental stage biopharmaceutical company focused on merging
traditional therapeutics with psychedelic research, today announced
that the U.S. Patent and Trademark Office (USPTO) has issued U.S.
Patent 16/825,371 titled “Peptide-Targeted Liposomal Delivery for
Treatment, Diagnosis, and Imaging of Diseases and Disorders.” The
new patent claims cover the Company’s portfolio drug SPU-21, a
peptide-guided anti-arthritis drug, as a method of selectively
targeting inflamed synovial tissue. SPU-21 has been shown to
inhibit arthritic progression in a preclinical animal model.
Eric Weisblum, Chief Executive Officer of Silo Pharma, stated,
“Our SPU-21 liposomal homing peptides, licensed from the University
of Maryland, Baltimore, are able to identify markers of arthritic
inflammation in joints and have potential for the development of
fusion imaging molecules and/or nanoparticles to study arthritic
pathogenesis. The expanded claims in this new patent grant
reinforce protection for our ongoing development of SPU-21 guided
delivery of targeted psilocybin as a therapeutic agent for
rheumatoid arthritis (RA), our initial indication.”
An estimated 1.3 million U.S. adults suffer from RA, the most
common autoimmune disease in U.S. The U.S. market for RA drugs is
expected to generate $63 billion by 2027.1
About Silo Pharma
Silo Pharma. Inc. is a development-stage biopharmaceutical
company focused on merging traditional therapeutics with
psychedelic research for people suffering from indications such as
PTSD, Alzheimer’s disease, 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 healthcare industry. For more information visit
www.silopharma.com
Forward-Looking Statements
All statements other than statements of historical fact in this
announcement are forward-looking statements that involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy, and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company under takes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's filings with the SEC.
Contact
800-705-0120 investors@silopharma.com
1 Allied Market Research, October 2020
Silo Pharma (NASDAQ:SILO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Silo Pharma (NASDAQ:SILO)
Historical Stock Chart
From Sep 2023 to Sep 2024