Clarivate will monitor, manage, and maintain Company’s expanding IP portfolio
ENGLEWOOD CLIFFS, NJ, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) (“the Company”), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, announced today that it has retained the services of Clarivate™, a leading global provider of information services including IP lifecycle management solutions. Under terms of the agreement, Clarivate will manage, maintain, and track the Company’s intellectual property assets and technology rights, and serve as an advisor for strategic IP and patent expansion in support of pipeline development.
Silo Pharma engages in the acquisition, licensing, and development of intellectual property and technology rights from leading universities and researchers, including the use of psychedelic drugs. The Company’s IP-protected portfolio assets were acquired through exclusive drug development collaborations including a sponsored study agreement and a licensing option agreement with Columbia University; a license and option agreement and an investigator-sponsored study agreement with the University of Maryland, Baltimore; a joint venture with Zylö Therapeutics, Inc.; and a sponsored research agreement with the University of California, San Francisco.
“Our new agreement with Clarivate gives us the opportunity to step up our intellectual property and patent expansion efforts and reinforce protection for our novel assets under development,” said Eric Weisblum, Chief Executive Officer of Silo Pharma. “Clarivate’s IP intelligence solutions will provide insights and clarity to inform our pursuit of future opportunities.”
Silo Pharma currently holds 3 issued and provisional patents with additional patent applications pending.
In 2023, year-to-date, Silo Pharma has been awarded 3 new patents and one patent extension:
- U.S. Patent 16/825,371, covering SPU-21 as a method of selectively targeting inflamed synovial tissue.
- U.S. Patent 11,622,948, covering the use of biomarkers in determining efficacy of SPC-15 as a method of treatment for a stress-induced affective disorder or stress-induced psychopathology.
- U.S. Patent 11,491,120, covering SPC-15 in a method of treating stress-induced affective disorders including anxiety and PTSD.
In addition, the Company has filed a provisional patent application titled “Methods and Compositions for Pain Management.” The action supports a planned Investigational New Drug (IND) package submission to FDA for SP-26. Another provisional patent application was filed for the use of its central nervous system (CNS) homing peptides to treat Alzheimer's disease and the onset of dementia.
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
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.