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Silo Pharma Inc (NASDAQ:SILO) announced a new exclusive license agreement with 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, CEO of Silo Pharma.
Silo Pharma has 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.
Medspray develops and manufactures a soft mist nasal spray technology using silicon microchip-based spray nozzles.
A formulation-specific, customized aerosol plume designed to allow for better deposition in the nasal cavity's relevant region, thereby reducing systemic absorption levels.
The drug dispersion through the nose to the brain has been designed to optimize patient safety and therapeutic delivery.
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.
Price Action: SILO shares closed at $1.63 on Monday.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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