SILO - Silo Pharma Exercises Option for Exclusive License Agreement for First-in-Class PTSD and Stress-Induced Anxiety Therapeutic | Benzinga
Exclusive license for development, manufacturing, and commercialization in process
Silo Pharma to file Pre-IND in first half 2024
SARASOTA, FL, March 20, 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 SPC-15, a prophylactic treatment for stress-induced affective disorders including anxiety and PTSD, 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-15 worldwide. The Company expects to finalize and enter into the exclusive license agreement in the first half of 2024.
"Through our research collaboration with Columbia University and our CRO studies, we have successfully taken SPC-15 through pre-clinical development to prepare for the submission of our FDA pre-investigational New Drug Application (IND) by the end of the second quarter 2024," said Eric Weisblum, CEO of Silo. "In each study, we have observed consistently strong data which we believe warrants the exercise of our option for exclusive worldwide licensing rights for this ...