Silo Pharma Inc (OTCQB: SILO) is setting the stage for a strong day in the market this morning, and for good reason. The company announced that it has finalized a key agreement. Here’s what’s happening:
Silo Pharma Announces Finalized Agreement
In a press release issued early this morning, Silo Pharma announced that it finalized an agreement to sublicense technology. The technology is covered by recently announced provisional patent applications filed with the United States Patent and Trademark Office.
In the release, Silo Pharma went on to explain that the patent applications pertain to its novel proprietary central nervous system (CNS) homing peptides. These peptides are designed for use in the therapeutic treatment of pain from neuroinflammation in cancer patients.
In a statement, Eric Weisblum, CEO at SILO, had the following to offer:
We are excited about the next steps of this relationship and the sublicense culminates the previous Letter of Intent announced earlier in February. We are pleased to have a broader team of industry participants working to explore and expand the use of our novel peptides. As a company, we believe that Silo Pharma’s greatest purpose is to create value for its shareholders while working diligently to develop a new novel class of therapeutics for patients suffering from debilitating afflictions, such as cancer.
The Bottom Line
The bottom line here is simple. Silo Pharma continues to execute, firing on all cylinders, and setting the stage for tremendous growth ahead. All told, this is a stock that’s well worth watching closely.
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