Silo Pharma, Inc. 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.

Only two drugs are currently approved for treating PTSD, both of which target only the depressive effects of the condition. In contrast, SPC-15's differentiated method of action is designed to increase stress resilience in high-risk populations. Silo has identified clinical development of lead asset SPC-15 as the Company's top strategic priority in 2024.

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 under a sponsored research agreement and option.