09:24 AM EDT, 07/08/2024 (MT Newswires) -- Silo Pharma ( SILO ) said Monday it has signed an exclusive global license agreement with Columbia University to further develop, manufacture and commercialize its potential intranasal treatment for stress-induced affective disorders and post-traumatic stress disorder.

The company said it is currently in the final steps before submission of an investigational new drug application to the US Food and Drug Administration to start first-in-human clinical studies of its lead drug candidate, SPC-15.

Shares of Silo Pharma ( SILO ) rose nearly 6% in premarket activity.

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