SARASOTA, FL - Silo Pharma, Inc. (NASDAQ: SILO), a biopharmaceutical company specializing in novel therapies for psychiatric and neurological disorders, has received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for its pharmacological treatment aimed at preventing stress-induced affective disorders in women. The company, which has shown impressive gross profit margins according to InvestingPro data, has demonstrated strong market performance over the past month. The patent is expected to be formally issued within the next 90 days, providing additional protection for the company’s primary product, SPC-15, which is an intranasal treatment for post-traumatic stress disorder (PTSD).
The newly allowed patent application, number 17/954,864, relates to Silo's ongoing development of SPC-15, a serotonin 5-HT4 receptor agonist. This treatment is designed to address stress-induced conditions such as PTSD and anxiety. The patent will expand upon existing claims in U.S. Patent 11,491,120, which Silo obtained in February 2023.
Eric Weisblum, CEO of Silo, expressed optimism about the patent strengthening the company’s intellectual property portfolio and enhancing the protection of their technology rights. Silo Pharma holds an exclusive licensing agreement with Columbia University for the global development, manufacture, and commercialization of SPC-15, which includes a broad range of issued patents and pending patent applications for the technology.
SPC-15 could potentially benefit from an expedited FDA approval process through the 505(b)(2) regulatory pathway due to its intranasal delivery system. Currently, Silo is collaborating with Columbia University on preclinical studies and retains exclusive global rights to develop and commercialize the treatment.
In addition to SPC-15, Silo Pharma is working on other preclinical programs, including SP-26, a time-release ketamine-loaded implant for fibromyalgia and chronic pain, SPC-14, an intranasal compound for Alzheimer’s disease, and SPU-16, a CNS-homing peptide targeting multiple sclerosis (MS).
The company's research and development efforts are conducted in partnership with universities and independent laboratories. This announcement is based on a press release statement from Silo Pharma, Inc. While analysts do not anticipate profitability this year, InvestingPro subscribers can access 6 additional key insights about Silo Pharma's financial health and market position, helping investors make more informed decisions about this niche player in the pharmaceutical industry.
In other recent news, biopharmaceutical company Silo Pharma has reported significant advancements in its PTSD treatment, SPC-15, and its ketamine implant for chronic pain, SP-26. The company has completed a pre-Investigational New Drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA) for SPC-15 and expects to submit an Investigational New Drug (IND) application in 2025. Silo Pharma has also secured an exclusive global license from Columbia University for the development and commercialization of SPC-15. Early 2025 animal studies are being prepared for SP-26, which aims to provide sustained relief for chronic pain and fibromyalgia.
Additionally, Silo Pharma recently secured approximately $2.1 million through a registered direct offering and concurrent private placement of securities, which is expected to be used for working capital and general corporate purposes. The company's annual shareholder meeting resulted in the re-election of its board members and the ratification of its independent public accounting firm, Salberg & Company, P.A.
These recent developments highlight Silo Pharma's commitment to innovating within the pharmaceutical space and addressing underserved conditions such as stress-induced psychiatric disorders and chronic pain.
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