Silo Pharma Inc (OTCMKTS: SILO) made a huge announcement this morning. The company said that it has added to its scientific advisory board. Here’s what’s going on:
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SILO Announces A New Addition To Its Scientific Advisory Board
As mentioned above, Silo Pharma issued big news this morning. The company announced that it has hired Dr. Peter Hendricks, Ph.D., to its newly formed Scientific Advisory Board. Dr. Hendricks is a behavoioral health expert currently serving as Associate Professor at the University of Alibama at Birmingham’s Health and Behavioral department.
SILO went on to explain that it his role at UAB, Dr. Hendricks has led studies and authored a number of published research articles that explore the therapeutic impacts of psychedelic drugs, including psilocybin, a key compound being assessed by SILO.
Importantly, UAB is one of few universities around the world that is actively investigating the medical benefits of psilocybin. With extensive research already performed in the space, Dr. Hendricks brings an overwhelming wealth of knowledge and expertise to the table in the development of psilocybin as a therapeutic option.
In a statement, Eric Weisblum, CEO at SILO, had the following to offer:
Peter’s background in drug and behavioral research strongly supplements our team as we pursue and assess new opportunities. Our Scientific Advisory Board is comprised of some of the most forward-thinking researchers in the industry, and will help to position Silo Pharma, Inc. as a critical player in the pursuit of ground-breaking research and innovation in the field of psychedelic medicine.
Silo Pharma, Inc. will continue to support the research of commercially viable tools and drugs that seek superior outcomes for individuals suffering from emotional and behavioral disorders. The use of psychedelic drugs such as psilocybin, as an alternative therapy, have the potential to be a disruptive force in the treatment of these widespread conditions. I look forward to working with Dr. Hendricks in pursuit of opportunities in this field.
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This Is Big News
The news released by Silo Pharma is huge for the company. Keep in mind, the company is on the leading edge of innovation surrounding the use of psychedelic drugs as potential therapeutic options, and one of few companies diving into the space. Of the few, Silo is the most heavily undervalued, with a coming Phase 2 trial that puts it in line with the likes of Mind Medicine (OTCMKTS: MMEDF), a company with a market cap of more than $600 million.
All in all, SILO is putting together a shining team of stars in the psychedelic therapeutics space, moving into Phase 2 clinical trials, and relatively unknown among the investing community. That sets the stage for opportunity in my view.
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Disclosure: CNA Finance, parent company to Alpha Stock News, has a financial relationship with Silo Pharma.