Silo Pharma, Inc. (NASDAQ: SILO) shares barely budged at the open on Wednesday. The Sarasota-based company, a diversified developmental-stage biopharmaceutical and cryptocurrency treasury company, today announced that IP Australia (the Australian Patent Office) has granted patent number 2020271839 to Silo’s research and licensing partner Columbia University for the invention titled “Prophylactic efficacy of serotonin 4 receptor agonists against stress” exclusively licensed to Silo by Columbia University.
The patent reinforces protection for Silo’s lead asset, SPC-15, an intranasal treatment targeting post-traumatic stress disorder (PTSD), originally developed by Columbia University.
“This patent further strengthens our global IP portfolio for SPC-15, protecting its novel approach to preventing stress-induced disorders and enhancing stress resilience,” said Silo CEO Eric Weisblum. “The claims further strengthen and support our plans for clinical trial development of SPC-15 as an innovative therapeutic for PTSD.”
SPC-15 is an intranasal serotonin 5-HT4 receptor agonist aimed at treating stress-induced psychiatric disorders such as PTSD and anxiety. With its potential eligibility for the FDA’s streamlined 505(b)(2) regulatory pathway, SPC-15 offers a promising approach to accelerate the approval process. Silo Pharma is collaborating with Columbia University to conduct preclinical studies and has exclusive global rights to the development and commercialization of SPC-15.
SILO shares added only one cent shortly after Wednesday’s open to 64 cents.
