Latest news with #SiloPharma
Associated Press
3 days ago
- Business
- Associated Press
Silo Pharma Board of Directors Approves Purchase of Bitcoin as Treasury Reserve Asset
SARASOTA, FL, June 05, 2025 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) ('Silo' or the 'Company'), a developmental stage biopharmaceutical company focused on novel therapeutics and drug delivery systems, today announced that its Board of Directors has approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset. 'The addition of Bitcoin to our treasury holdings is a strategic decision aimed at diversifying our assets to include a digital store of value with what we believe has significant upside potential,' said Eric Weisblum, CEO of Silo. 'Our purchase of Bitcoin is intended to provide a safeguard against inflation and is expected to position Silo to preserve and optimize long-term shareholder value.' About Silo Pharma Silo Pharma Inc. (Nasdaq: SILO) is a developmental stage biopharmaceutical company focused on addressing underserved conditions, including stress-induced psychiatric disorders, chronic pain, and central nervous system (CNS) diseases. The Company's portfolio includes innovative programs such as SPC-15 for PTSD, SP-26 for fibromyalgia and chronic pain, and preclinical assets targeting Alzheimer's disease and multiple sclerosis. Silo's research is conducted in collaboration with leading universities and laboratories. Forward-Looking Statements This news release contains 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified using words 'could', 'believe', 'anticipate', 'intend', 'estimate', 'expect', 'may', 'continue', 'predict', 'potential', and similar expressions that are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Silo Pharma, Inc. ('Silo' or 'the Company') to differ materially from the results expressed or implied by such statements, including changes to anticipated sources of revenues, future economic and competitive conditions, difficulties in developing the Company's technology platforms, retaining and expanding the Company's customer base, fluctuations in consumer spending on the Company's products and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company disclaims any obligations to publicly update or release any revisions to the forward-looking information contained in this press release, whether as a result of new information, future events, or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events except as required by law. Contact 800-705-0120 [email protected]
Yahoo
26-03-2025
- Business
- Yahoo
Silo Pharma Achieves Key Milestone with First Dosing in IND-Enabling GLP Study for SPC-15 as a Groundbreaking PTSD Treatment
SARASOTA, FL, March 26, 2025 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) ('Silo' or the 'Company'), a developmental stage biopharmaceutical company focused on novel therapeutics and drug delivery systems, today announced first dosing in an investigational new drug (IND)-enabling GLP (Good Laboratory Practice)-compliant toxicology and toxicokinetics study of its lead asset, SPC-15, an intranasal prophylactic treatment for post-traumatic stress disorder (PTSD). 'This IND-enabling safety study and our concurrent GLP-compliant pharmacokinetic and pharmacodynamic study, if successful, will provide the last preclinical data needed to open an IND for SPC-15,' said Eric Weisblum, CEO of Silo. 'We are following the FDA's helpful responses to our pre-IND submission, which provide a clear path to an IND submission to first-in-human clinical studies.' Silo Pharma completed a pre-IND meeting in September 2024 to align with the FDA on the 505(b)(2) regulatory pathway for approval of SPC-15 and review the Company's proposed plan to support opening an IND. The FDA's 505(b)(2) drug development route can significantly shorten clinical timelines for FDA approval and reduce drug development costs. About SPC-15SPC-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. About Silo PharmaSilo Pharma Inc. (Nasdaq: SILO) is a developmental stage biopharmaceutical company focused on addressing underserved conditions, including stress-induced psychiatric disorders, chronic pain, and central nervous system (CNS) diseases. The Company's portfolio includes innovative programs such as SPC-15 for PTSD, SP-26 for fibromyalgia and chronic pain, and preclinical assets targeting Alzheimer's disease and multiple sclerosis. Silo's research is conducted in collaboration with leading universities and laboratories. Forward-Looking StatementsThis news release contains "forward-looking statements" within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified using words 'could', 'believe', 'anticipate', 'intend', 'estimate', 'expect', 'may', 'continue', 'predict', 'potential', and similar expressions that are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Silo Pharma, Inc. ('Silo' or 'the Company') to differ materially from the results expressed or implied by such statements, including changes to anticipated sources of revenues, future economic and competitive conditions, difficulties in developing the Company's technology platforms, retaining and expanding the Company's customer base, fluctuations in consumer spending on the Company's products and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company disclaims any obligations to publicly update or release any revisions to the forward-looking information contained in this press release, whether as a result of new information, future events, or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events except as required by law. Contact800-705-0120investors@ in to access your portfolio
Yahoo
26-02-2025
- Business
- Yahoo
Silo Pharma Granted U.S. Patent for Novel Intranasal Post-Traumatic Stress Disorder Treatment
SARASOTA, FL, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (Nasdaq: SILO) ('Silo' or the 'Company'), a developmental stage biopharmaceutical company focused on novel therapeutics and drug delivery systems, today announced that the U.S. Patent and Trademark Office (USPTO) issued an Issue Notification for our previously filed patent application (No. 17/954,864) titled 'Pharmacological Prophylactics Against Stress-Induced Affective Disorders in Females.' The projected patent number is 12,239,614 and the issue date of such patent will be March 4, 2025. The patent reinforces protection for Silo's lead asset, SPC-15, an intranasal treatment targeting post-traumatic stress disorder (PTSD). The patent includes newly added claims to U.S. Patent 11,491,120, which was issued to Silo in November 2022. 'Strategic IP and patent expansion is key to advancing our lead asset SPC-15 to clinical trials and creating value for our full pipeline of novel assets,' said Eric Weisblum, CEO of Silo. 'This new patent further supports our collaborative research with Columbia University and expands coverage for SPC-15.' Silo announced the USPTO's Notice of Allowance for the new patent in January 2025. About SPC-15 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. About Silo Pharma Silo Pharma Inc. (Nasdaq: SILO) is a developmental stage biopharmaceutical company focused on addressing underserved conditions, including stress-induced psychiatric disorders, chronic pain, and central nervous system (CNS) diseases. The Company's portfolio includes innovative programs such as SPC-15 for PTSD, SP-26 for fibromyalgia and chronic pain, and preclinical assets targeting Alzheimer's disease and multiple sclerosis. Silo's research is conducted in collaboration with leading universities and laboratories. Forward-Looking Statements This news release contains "forward-looking statements" within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified using words 'could', 'believe', 'anticipate', 'intend', 'estimate', 'expect', 'may', 'continue', 'predict', 'potential', and similar expressions that are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Silo Pharma, Inc. ('Silo' or 'the Company') to differ materially from the results expressed or implied by such statements, including changes to anticipated sources of revenues, future economic and competitive conditions, difficulties in developing the Company's technology platforms, retaining and expanding the Company's customer base, fluctuations in consumer spending on the Company's products and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company disclaims any obligations to publicly update or release any revisions to the forward-looking information contained in this press release, whether as a result of new information, future events, or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events except as required by law. Contact800-705-0120 investors@ in to access your portfolio
