(RTTNews) - Silo Pharma, Inc. (SILO), a biopharmaceutical company focused on developing novel therapeutics, announced on Friday that it has entered into a collaboration agreement with Kymanox to develop a subcutaneous insertion device for its SP-26 ketamine-loaded implant therapy.
The deal will see Kymanox handle the initial proof-of-concept design and feasibility testing of the device, which is aimed at providing sustained relief for patients suffering from fibromyalgia and chronic pain.
The device will be designed for optimal insertion depth in tissue to ensure the safety and effectiveness of the treatment.
Silo's SP-26 implant, a ketamine-based dissolvable polymer implant, is being designed for the subcutaneous delivery of ketamine, regulating dosage and time release for pain management. If successful, SP-26 could qualify for FDA's streamlined 505(b)(2) regulatory pathway, potentially becoming the first at-home injectable ketamine-based therapeutic for chronic pain.
In addition to the SP-26 agreement, Kymanox is also Silo's regulatory partner for SPC-15, a targeted treatment for PTSD and stress-induced anxiety disorders.
The partnership advances Silo's goal of addressing underserved conditions through innovative drug delivery systems.
The company also anticipates further preclinical research to ensure SP-26's safety profile aligns with FDA requirements for at-home therapeutic designation.
SILO is currently trading at $1.04, up 16.82%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
