Investigational New Drug (IND) submission to FDA on target for Q1 2024
SPC-15, is a novel Serotonin 4 receptor agonist against stress, developed in conjunction with Columbia University
ENGLEWOOD CLIFFS, NJ, Sept. 12, 2023 (GLOBE NEWSWIRE) — Silo Pharma, Inc. (Nasdaq: SILO) (“the Company”), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, today announced the initiation of an exploratory feasibility study evaluating a selected delivery mechanism for its intranasal therapeutic drug SPC-15. The Company’s collaboration partner for the study is a developer and manufacturer of innovative drug delivery systems and technology.
Eric Weisblum, Chief Executive Officer of Silo Pharma, stated, “We believe our research partner’s patented proprietary nasal-to-brain technology could be well suited for the delivery of SPC-15, and we expect to receive the results of these in vitro lab tests by the end of September. If the results are positive, we will work to prepare an Investigational New Drug (IND) application for submission to the FDA in the first quarter of 2024.”
SPC-15, a Serotonin 4 receptor agonist with prophylactic efficacy against stress, utilizes biomarkers for the treatment of stress-induced affective disorders, anxiety, and PTSD. Its core technology is patent-protected.
About Silo Pharma
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, Alzheimer’s disease, and other rare neurological disorders. Silo’s 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
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.
Source Globe Newswire