Silo Pharma (NASDAQ: SILO), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, has entered into an exclusive licensing agreement with medical tech manufacturer Medspray Pharma BV. The agreement is for Medspray’s a proprietary patented soft-mist nasal spray technology, the delivery mechanism that will be used in Silo’s intranasal therapeutic drug SPC-15. The customized aerosol plume allows for better deposition in the targeted region of the nasal cavity and reduces levels of systemic absorption. The agreement covers multiple indications including anxiety disorders, Alzheimer’s disease and anorexia. “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,” said Silo Pharma CEO Eric Weisblum in the press release. “Based on successful outcomes from these studies, we have selected Medspray’s spray technology for our formulation. 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.”
To view the full press release, visit https://ibn.fm/0qSeb
About Silo Pharma Inc.
Silo Pharma is a developmental-stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as Alzheimer’s, PTSD and other rare neurological disorders. Silo’s mission is to identify assets to license and fund the research, which the company believes will be transformative to the well-being of patients and the health-care industry. For more information about the company, visit www.SiloPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/SILO
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