Silo Pharma Enters into Exclusive License Agreement with Medspray Pharma BV for Intranasal Technology used in SPC-15 Treatment for PTSD
21 11월 2023 - 10:01PM
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
formulation-specific, customized aerosol plume that is designed to
allow for better deposition in the relevant region of the nasal
cavity, thereby reducing levels of systemic absorption. The drug
dispersion through the nose to brain has been designed to optimize
patient safety and therapeutic delivery.
About SPC-15
SPC-15 is a novel serotonin 4 (5-HT4) receptor agonist that
utilizes biomarkers for the treatment of PTSD, anxiety, and other
stress-induced affective disorders. SPC-15 is being developed
as an intranasal medication. If clinically successful, SPC-15 could
qualify for the FDA’s streamlined 505(b)(2) regulatory pathway for
drug approval. Silo Pharma is conducting preclinical studies of
SPC-15 in collaboration with Columbia University pursuant to a
sponsored research agreement and option.
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
About Medspray BV
Medspray is a privately owned company in Enschede, the
Netherlands. With its 40 employees Medspray focuses on the
development and manufacturing of micro spray nozzles which creates
an ultra-soft mist. Medspray’s slogan is: ‘tiny technology for a
sustainable future.’ Medspray aims to contribute to a sustainable
world by developing innovative spray nozzles for user-friendly
health and physical care products. The applications for the
Medspray ranges from soft mist inhalation products that will
require small and slow moving droplets up to target the lungs, as
well as to the Beauty, Home and Personal care segments like fine
fragrance sprays where larger droplets or aerosols are required.
www.medspray.com
Forward-Looking Statements – Silo Pharma
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 undertakes 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.
Contact Information
Silo Pharma800-705-0120 investors@silopharma.com
Medspray Pharma B.V.+31 53 7112835info@medspray.com
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