09:53 AM EDT, 04/10/2024 (MT Newswires) -- Silo Pharma ( SILO ) said Wednesday it has exercised its option to license the Alzheimer's disease therapeutic SPC-14 from Columbia University, as part of an existing sponsored research and option agreement set up in 2021.

The company said it anticipates finalizing an exclusive license agreement to develop, manufacture and distribute SPC-14 globally in the first half of 2024.

Shares of the company were down 7% in recent trading.

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