Silo Pharma Announces Partnership with Global CRO for Central Nervous System Homing Peptide
07 Agosto 2024 - 2:13PM
Silo Pharma, Inc. (Nasdaq: SILO) (“Silo” or the “Company”), a
developmental stage biopharmaceutical company focused on developing
novel formulations and drug delivery systems for traditional
therapeutics and psychedelic treatments, today announced that it
has entered into an agreement with WuXi AppTec (Hong Kong) Limited,
a leading global contract research organization (CRO), for a
preclinical small animal study of SPU-16, a central nervous system
(CNS) homing peptide targeting multiple sclerosis (MS). Silo Pharma
is advancing the development of the SPU-16 liposomal homing peptide
through a commercial evaluation license and option agreement with
the University of Maryland, Baltimore (UMB).
The study will examine the organ/tissue
specificity of the SPU-16 peptide in an experimental autoimmune
encephalomyelitis (EAE) protocol, is the most commonly used
experimental model for MS. The peptide’s proven ability to target
inflamed epithelium suggests that it can be used as a targeted drug
delivery tool to address inflammation in the spinal cord.
“We are excited to launch this new study of our
novel CNS homing peptide under the management of WuXi AppTec, one
of the largest CROs in Asia and globally,” said Silo CEO Eric
Weisblum.1 “Designed to cross the blood-brain barrier and target
damaged tissue and inflammation, SPU-16 has been shown to enhance
the therapeutic effect of current and future therapeutics while
decreasing the toxicity of the drugs. While we are currently
investigating the peptide for MS, it could provide similar benefits
for multiple neuroinflammatory pathologies.”
MS, a human inflammatory demyelinating disease,
is one of the most widespread disabling neurological conditions of
young adults.2 The global multiple sclerosis drugs market size is
projected to grow at a compound annual growth rate (CAGR) of 7.9%
from $21.2 billion in 2024 to $38.9 billion by 2032.3
About Silo Pharma
Silo Pharma Inc. (Nasdaq: SILO) is a
developmental stage biopharmaceutical company developing novel
therapeutics that address underserved conditions including
stress-induced psychiatric disorders, chronic pain conditions, and
central nervous system (CNS) diseases. Silo focuses on developing
traditional therapies and psychedelic treatments in novel
formulations and drug delivery systems. The Company’s lead program,
SPC-15, is an intranasal treatment targeting PTSD and
stress-induced anxiety disorders. SP-26 is a time-release
ketamine-loaded implant for fibromyalgia and chronic pain relief.
Silo’s two preclinical programs are SPC-14, an intranasal compound
for the treatment of Alzheimer’s disease, and SPU-16, a CNS-homing
peptide targeting multiple sclerosis (MS). Silo’s research and
development programs are conducted through collaborations with
universities and independent laboratories. For more information,
visit www.silopharma.com and connect on social media
at LinkedIn , X , and Facebook .
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.
Contact
800-705-0120 investors@silopharma.com
1 BAIPHARM, Top 10 CROs With the Highest Revenues in 2023, April
20242 Healthline, Multiple Sclerosis: Facts, Statistics, and You3
Fortune Business Insights, Multiple Sclerosis Drugs Market Size,
Share & Industry Analysis…, July 2024
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