SARASOTA, FL, April 10, 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 exercised its option to license Alzheimer’s disease (AD) therapeutic SPC-14 from Columbia University, pursuant to a sponsored research and option agreement established in 2021. Under the terms of the license agreement currently in process, Silo will be granted an exclusive license to further develop, manufacture, and commercialize SPC-14 worldwide upon consummation of such agreement. The Company expects to finalize and enter into 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 Eric Weisblum, CEO of Silo. “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.”
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 20331. Rising prevalence of the disease in the expanding elderly population and advancements in neurological research are expected to drive market growth.
Silo believes that SPC-14 should be eligible for development under the FDA’s 505(b)(2) regulatory pathway.
About SPC-14
Developed by Columbia University, 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 Columbia University and the University of Maryland, Baltimore. For more information, visit www.silopharma.com and connect on social media at LinkedIn, X, and Facebook.