SARASOTA, FL, July 16, 2024 (GLOBE NEWSWIRE) — Silo Pharma, Inc. (Nasdaq: SILO) (“Silo” or the “Company”), a developmental stage biopharmaceutical company focused on developing novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments, today announced that it has entered into an exclusive global license agreement to further develop, manufacture, and commercialize its Alzheimer’s drug SPC-14. Silo intends to utilize the FDA’s streamlined 505(b)(2) pathway for SPC-14, which would shorten clinical timelines and reduce drug development costs.
“In our view, our exclusive license for SPC-14 gives us the potential to meet a large unmet medical need. If approved, we believe SPC-14 could bring hope and relief for many families and patients. Early pre-clinical studies have shown stress reduction and cognitive improvement,” said Silo CEO Eric Weisblum.
Silo Pharma recently announced a similar exclusive license agreement for its lead drug candidate, SPC-15, an intranasal treatment for stress-induced affective disorders and PTSD.
The global Alzheimer’s disease therapeutics market size is forecasted to exceed $30.8 billion by 2033, with a CAGR of 18.8% from 2024 to 2033 1 . Rising prevalence of the disease in the expanding elderly population and advancements in neurological research are expected to drive market growth.
SPC-14 is a novel therapeutic that targets glutamate receptor NDMAR and serotonin type 4 receptor 5HT4 to treat cognitive and neuropsychiatric symptoms in Alzheimer’s disease. In the latest small animal preclinical study, SPC-14 was effective against LH (luteinizing hormone) stress in attenuating learned helplessness, perseverative behavior, and hyponeophagia, a measure of anxiety.
Silo Pharma Inc. (Nasdaq: SILO) 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 universities and independent laboratories. For more information, visit www.silopharma.com and connect on social media at LinkedIn , X , and Facebook .