Silo Pharma (NASDAQ: SILO), a developmental-stage biopharmaceutical company focused on developing novel formulations and drug-delivery systems for traditional therapeutics and psychedelic treatments, is exercising its option to license Alzheimer’s disease (“AD”) therapeutic SPC-14 from Columbia University. The option was outlined in a research and option agreement between Silo Pharma and the university in 2021. According to the announcement, SPC-14 shows cognitive and stress-reduction benefits in preclinical models. Silo Pharma will be granted an exclusive license to develop, manufacture and commercialize the novel therapeutic worldwide. Silo Pharma anticipates finalizing the exclusive license agreement in the first half of 2024. “Columbia University has discovered a therapeutic candidate that could bring relief and hope for Alzheimer’s patients and families,” said Silo Pharma CEO Eric Weisblum in the press release. “In our opinion, available treatments for AD remain largely inadequate. We believe that the cognitive improvement and stress reduction shown by SPC-14 in preclinical studies could hold promise for this underserved disease market.”
To view the full press release, visit https://ibn.fm/wH8g1
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 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 Columbia University and the University of Maryland, Baltimore. 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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