Silo Pharma has entered into an agreement to license technology covered by provisional patent applications filed by Silo Pharma with the United States Patent and Trademark Office in use for patients suffering with cancer. Silo Pharma’s patent applications relates to using a novel peptide with Psilocybin as a therapeutic.
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“We are excited about this opportunity as we continue to execute our plan to bring novel therapeutics to patients inflicted with neurological disorders and rare diseases, which we hope will bring about breakthroughs that can lead to improved care,” Eric Weisblum, CEO of Silo Pharma, said. “This agreement is structured to provide $500,000 in an upfront cash payment as well as equity currently valued at $500,000 from a NASDAQ listed company. The Agreement also provides for Silo to collect royalties should the technology be commercialized.”