Silo Pharma (NASDAQ: SILO), a developmental-stage biopharmaceutical company focused on developing novel formulations and drug-delivery systems for traditional therapeutics and psychedelic treatments, has entered into a license agreement with Columbia University. The agreement, which is exclusive and global, outlines plans to further develop, manufacture and commercialize Silo’s lead drug candidate, SPC-15. According to the announcement, SPC-15 is an intranasal treatment for stress-induced anxiety disorders and post-traumatic stress disorder (“PTSD”). The announcement noted that Silo has already submitted a pre-IND briefing package and meeting request for SPC-15 to the U.S. Food and Drug Administration (“FDA”) and is taking the final steps required before submitting an IND application to start first-in-human clinical studies. “In our opinion, the execution of the exclusive license agreement for our SPC-15 product is a critical step for our company, which we believe could increase shareholder value in the future, subject to FDA approval if and when received,” said Silo CEO Eric Weisblum in the press release.
To view the full press release, visit https://ibn.fm/SZbPg
About Silo Pharma Inc.
Silo Pharma is a developmental-stage biopharmaceutical company developing novel therapeutics that address underserved conditions including stress-induced psychiatric disorders, chronic pain conditions and central nervous system (“CNS”) diseases. Silo focuses on developing traditional therapies and psychedelic treatments in novel formulations and drug-delivery systems. The company’s lead program, SPC-15, is an intranasal treatment targeting post-traumatic stress disorder (“PTSD”) and stress-induced anxiety disorders. SP-26 is a time-release, ketamine-loaded implant for fibromyalgia and chronic pain relief. Silo’s two preclinical programs are SPC-14, an intranasal compound for the treatment of Alzheimer’s disease, and SPU-16, a CNS-homing peptide targeting multiple sclerosis (“MS”). Silo’s research and development programs are conducted through collaborations with universities and independent laboratories. For more information about the company, visit www.SiloPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/SILO
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