Silo Pharma, Inc. announced new results in its research focused on depression remission and relapse prevention. A recent study under the Company?s sponsored research agreement with Columbia University suggested a potentially innovative drug formulation that targets biochemical pathways associated with mood regulation previously unexplored by the Company which showed positive effects including marked improvements in patient mood stability without the side effects commonly associated with existing antidepressants. The company has successfully taken SPC-15 through pre-clinical development and is preparing to submit a pre-investigational New Drug Application (IND) to the FDA for the drug?s lead indication in PTSD.

Silo has exercised its option to license SPC-15 from Columbia University, pursuant to a sponsored research and option agreement originally established in 2021. Under the terms of the license agreement, which is currently being finalized, Silo will be granted an exclusive license to further develop, manufacture, and commercialize SPC-15 worldwide. The Company expects to complete and enter into the exclusive license agreement in the first half of 2024.