Developmental stage biopharmaceutical company Silo Pharma Inc (Nasdaq:SILO) announced on Tuesday that it has entered into an exclusive global licence agreement to further develop, manufacture and commercialise its Alzheimer's drug SPC-14.

The company aims to expedite drug development using the FDA's streamlined 505(b)(2) pathway, potentially reducing costs and timelines.

Silo CEO Eric Weisblum believes SPC-14 could address a significant unmet medical need. Early pre-clinical data suggests potential benefits in stress reduction and cognitive improvement.

This announcement follows a similar licensing deal for Silo's lead drug candidate, SPC-15, an intranasal treatment for stress-induced affective disorders and PTSD.