SILO - Silo Pharma Enters into Exclusive License Agreement with Medspray Pharma BV for Intranasal Technology used in SPC-15 Treatment for PTSD | Benzinga
MedSpray's patented nose-to-brain intranasal technology selected for SPC-15 drug delivery
Exclusivity covers multiple indications including anxiety disorders, Alzheimer's disease, and anorexia
ENGLEWOOD CLIFFS, NJ, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (NASDAQ:SILO) ("Silo" or "the Company"), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, today announced a new exclusive license agreement with medical technology manufacturer Medspray Pharma BV for its proprietary patented soft mist nasal spray technology, the delivery mechanism selected for Silo's intranasal therapeutic drug SPC-15.
"We began a collaboration with Medspray earlier this year for feasibility studies evaluating its patented technology as a delivery mechanism for our intranasal therapeutic drug SPC-15. Based on successful outcomes from these studies, we have selected Medspray's Spray Technology for our formulation," said Eric Weisblum, Chief Executive Officer of Silo Pharma. "As part of our manufacturing and sales contract, we have obtained exclusive rights to its spray mist technology for use with multiple indications including post-traumatic stress disorder (PTSD) and anxiety, as well as Alzheimer's disease and anorexia. We believe these rights are a valuable asset that can support Silo's continuing research and development of novel therapeutics."
Medspray develops and manufactures a soft mist nasal spray technology using silicon microchip-based spray nozzles. A ...