Silo Pharma, Inc. (Nasdaq: SILO) (“Silo” or the “Company”), a developmental stage biopharmaceutical company focused on novel therapeutics and drug delivery systems, announced that it has entered into a service agreement with medical technology provider Resyca BV for a drug-device study of the formulation-specific microchip-based nasal spray system used in its lead asset SPC-15, an intranasal prophylactic treatment for post-traumatic stress disorder (PTSD).

“This study is expected to provide the final necessary device data and documentation for SPC-15’s IND, which we plan to submit to the FDA this year,” said Eric Weisblum, CEO of Silo. “Our chosen device transports the molecules to the brain directly, bypassing the blood-brain barrier, to increase drug concentration. We believe this method can drive faster onset of therapeutic benefit with optimized safety for the treatment of PTSD patients.”

The Company is currently conducting two additional SPC-15 studies: an IND-enabling GLP (Good Laboratory Practice)-compliant toxicology and toxicokinetics study, and an FDA requested 7-day safety and toxicology large animal study.