Silo Pharma Secures Exclusive Global License for Alzheimer's Therapeutic
Agreement enhances Company’s intellectual property portfolio
SARASOTA, FL, July 16, 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 entered into an exclusive global license agreement to further develop, manufacture, and commercialize its Alzheimer’s drug SPC-14. Silo intends to utilize the FDA’s streamlined 505(b)(2) pathway for SPC-14, which would shorten clinical timelines and reduce drug development costs.
“In our view, our exclusive license for SPC-14 gives us the potential to meet a large unmet medical need. If approved, we believe SPC-14 could bring hope and relief for many families and patients. Early pre-clinical studies have shown stress reduction and cognitive improvement,” said Silo CEO Eric Weisblum.
Silo Pharma recently announced a similar exclusive license agreement for its lead drug candidate, SPC-15, an intranasal treatment for stress-induced affective disorders and PTSD.
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 2033 1 . Rising prevalence of the disease in the expanding elderly population and advancements in neurological research are expected to drive market growth.
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