Silo Pharma Selects Veloxity Labs for Bioanalytical IND-Enabling Study for our Novel Intranasal PTSD Therapy, SPC-15
Rhea-AI Summary
Silo Pharma (NASDAQ: SILO) has selected Veloxity Labs to conduct bioanalytical work for its IND-enabling GLP toxicology and toxicokinetics study of SPC-15, the company's lead drug candidate. SPC-15 is being developed as an intranasal prophylactic treatment for post-traumatic stress disorder (PTSD).
The company plans to initiate the FDA IND process for SPC-15 in 2025, and upon approval, will advance to a Phase 1 clinical trial. CEO Eric Weisblum expressed confidence in Veloxity Labs' ability to deliver fast turnaround times and precise data needed for the IND submission.
Positive
- Progress in IND-enabling studies for lead asset SPC-15
- Clear timeline for FDA IND submission in 2025
- Partnership with established lab for critical bioanalytical work
Negative
- Early-stage development with no guarantee of IND approval
- No revenue generation at current developmental stage
News Market Reaction
On the day this news was published, SILO declined 37.81%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SARASOTA, FL, May 14, 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 it has engaged Veloxity Labs, LLC for bioanalysis supporting the ongoing 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).
“We look forward to working with Veloxity Labs for GLP sample analysis in our current safety study of SPC-15,” said Eric Weisblum, CEO of Silo. “We expect Veloxity to provide fast turnaround times and precise, high-quality data, and we believe their team will play an important role in delivering preclinical data we need to open an IND for SPC-15.”
Silo expects to begin the FDA IND process for SPC-15 in 2025. Upon approval of the IND, Silo will proceed to a first-in-human Phase 1 clinical trial.
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. silopharma.com
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 the Company’s ability to successfully complete its preclinical studies and generate positive data, the risk that the FDA may not accept or may require changes to the IND, or may not allow the Company to proceed with clinical trials, the risk that the FDA may not approve SPC-15 on the Company’s expected timeline, or at all, 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
investors@silopharma.com
FAQ
What is Silo Pharma's (SILO) lead drug candidate SPC-15?
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