Silo Pharma’s notice of allowance paves the way toward clinical trials for its psychedelics delivery platform using homing peptides.
Silo Pharma Inc. (OTCQB: SILO), a development-stage biopharmaceutical company focused on the therapeutic potential of psychedelics, recently announced that the U.S. Patent Office issued a notice of allowance for its technology/method patent covering an isolated homing peptide and how it can help deliver drugs to the central nervous system (CNS).
“We are pleased to have been granted this patent by the United States Patent and Trademark Office for our novel homing peptide,” said CEO Eric Weisblum in a press release announcing the USPTO’s decision. “We will continue to expand our intellectual property portfolio related to markets where our novel therapeutics can be applied.”
After filing a provisional patent application, an examiner from the USPTO determines if an invention qualifies for a patent. Once the examiner decides to grant the patent, they issue a notice of allowance, which means that the patent is valid after paying registration fees.
The company’s efforts to secure patents are the cornerstone of its strategy to develop and license therapeutics. Unlike competitors administering generic psychedelics, the company’s patented technology could improve safety and efficacy while guaranteeing market exclusivity.
Bringing Products to Market
Silo Pharma initially entered into an exclusive agreement with the University of Maryland-Baltimore to license its patented homing peptides targeting rheumatoid arthritis (RA)—a market that’s projected to reach nearly $63 billion by 2027.
Management believes that the same technologies could also address a much larger market for central nervous system therapeutics. According to Global Industry Analysts, the global CNS therapeutics market could reach more than $132 billion by 2024.
The homing peptides work by helping conventional therapeutics better target diseased tissue. Through better targeting, the company could enhance efficacy and minimize toxicity by potentially reducing the amount of active ingredients needed to achieve the same outcome and opening the door to safely delivering more active ingredients.
The company believes that the same homing peptide approach could improve the safety and efficacy of psychedelic treatments. In August 2020, the company also filed three provisional patent applications covering the central nervous system delivery of psilocybin and NSAIDs, as well as a fourth provisional patent covering the use of psilocybin for cancer treatment.
Visit the company’s website to learn more about its pipeline and IP portfolio.
Presently, the company is working with researchers to build out these technologies and pave the way for clinical trials. The goal is to target FDA designations that would expedite clinical trials while extending exclusivity periods, creating more value than conventional drugs.
Looking to the Future
Silo Pharma Inc. (OTCQB: SILO) has numerous upcoming catalysts that investors should watch over the coming months. For example, the company has several ongoing preclinical and clinical trials, such as its Phase 2B study of psychedelics for treating Parkinson’s disease.
As it secures patents, the company can license these therapeutics to big pharma companies that can take them through Phase II and III clinical trials. Management’s long-term goal is to maintain a capital-efficient strategy that builds long-term, high-margin royalty income.
The company also owns one million shares of DatChat, Inc. (NASDAQ: DATS)—a privacy-focused communication company that recently went public on the NASDAQ. With a share price of around $3.70, the company’s position is worth around $3.6 million, subject to restrictions and other conditions on their holdings.
To learn more, visit the company’s website or download their investor presentation.