Silo Pharma Enters Joint Development Agreement for Ketamine Implant Device Targeting Pain Management

Silo Pharma, Inc. (Nasdaq: SILO), a developmental biopharmaceutical company focused on innovative therapeutics and drug delivery systems, has entered into a collaboration with Kymanox to develop a specialized subcutaneous insertion device for SP-26, its ketamine-based implant designed for the treatment of chronic pain and fibromyalgia.

The agreement involves proof-of-concept design and prototype testing to optimize the implant’s delivery system, ensuring precise insertion depth in tissue. This advancement builds on prior analytical testing, which confirmed the optimal formulation for the SP-26 implant.

“Our focus now is on advancing SP-26 with a unique insertion device for further preclinical studies,” said Silo CEO Eric Weisblum. “This is a significant step toward developing a sustained-release therapy that could potentially provide chronic pain relief in an at-home setting.”

Preclinical work on SP-26 aims to meet FDA safety requirements for potential at-home use, positioning SP-26 as a pioneering ketamine-based therapeutic with regulated dosage and time release. If successful, SP-26 could follow the FDA’s 505(b)(2) regulatory pathway, accelerating its approval process.

Additionally, Kymanox is serving as Silo’s regulatory partner for SPC-15, Silo’s intranasal treatment targeting stress-induced disorders such as PTSD.

Shares of Silo Pharma rose 14% in premarket trading following the announcement.