Study data to determine potential delivery partners
ENGLEWOOD CLIFFS, NJ, Aug. 08, 2023 (GLOBE NEWSWIRE) — Silo Pharma, Inc.Ā (Nasdaq: SILO) (āthe Companyā), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, today announced that it has advanced the formulation development for its therapeutic drug, SPC-15. The liquid nasal formulation will be used in SPC-15ās novel protocol intended for treatment and prevention of anxiety, PTSD, and other stress related disorders. The formulation development was in accordance with the Companyās sponsored research agreement and option withĀ Columbia University. Linearity, accuracy, and repeatability were achieved in the feasibility study.
āThe progress of our feasibility study investigating dose strengths of SPC-15 is a significant advancement in our development work with this pipeline candidate,āĀ said Eric Weisblum, Chief Executive Officer of Silo Pharma. āResults of the feasibility study will determine our selection of the manufacturing processes, and we are currently in discussions with potential delivery partners.Ā We may also use the feasibility data for upcoming studies related to our SPC-14 therapeutic targeting Alzheimerās disease.ā
In May 2023, Silo Pharma was awarded a U.S. Patent titled āBiomarkers for Efficacy of Prophylactic Treatments Against Stress-Induced Affective Disorders,ā with claims protecting the key technology behind SPC-15 and further drug discovery.
About Silo PharmaĀ
Silo Pharma. Inc. is a development-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as PTSD, Alzheimerās disease, and other rare neurological disorders. Siloās mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the healthcare industry. For more information visit www.silopharma.com
Forward-Looking StatementsĀ
All statements other than statements of historical fact in this announcement are forward-looking statements that involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company under takes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC.
ContactĀ
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