ENGLEWOOD CLIFFS, NJ – April 19, 2023 – Silo Pharma, Inc. (NASDAQ:SILO) (“the Company”), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research, today announced that it has commenced development of a novel formulation as a targeted prophylactic treatment, designated as SPC-15, intended for stress, anxiety, and PTSD.
Development of the drug formulation is pursuant to the Company’s sponsored research agreement with Columbia University. Preclinical studies in the field suggest that SPC-15 could be a promising therapeutic target for the treatment of cognitive impairment, PTSD, and stress-related disorders.
“We are advancing our development of SPC-15 through this formulation and feasibility study investigating dose strengths and delivery,” said Eric Weisblum, Chief Executive Officer of Silo Pharma. “The SPC-15 treatment protocol predicts levels of severity or progression of stress-related disorders and their metabolomic biomarkers’ response to pharmacological treatments. Based on our own research to date coupled with published preclinical data, we believe SPC-15 could have a profound impact on treating stress and anxiety disorders including PTSD, we will further use this data to help us with our upcoming studies related to SPC-14 Alzheimer’s asset.”
Targeted by SPC-15, anxiety, PTSD, and other stress-related disorders are becoming more frequent in Americans aged 18+. According to the World Health Organization in 2019, 300+ million people were living with an anxiety disorder, and according to the National Center for PTSD, around 12 million adults in the U.S. alone are reported to have PTSD., According to Fortune Business Insights, the global treatment market size for anxiety disorders and depression is projected to reach $13.0 billion in 2027.
Silo Pharma was recently granted a U.S. patent covering SPC-15 as a method for the treatment and prevention of stress-induced affective disorders in females.
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
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.
SOURCE: Silo Pharma, Inc.