Silo Pharma executes LOI with Allucent for Phase 1 development of SPC-15

Silo Pharma (SILO) entered into a non-binding Letter of Intent with Allucent to provide clinical research services for two planned Phase 1 studies evaluating its SPC-15 nasal spray in healthy subjects: an Open-Label, Single Ascending Dose study and an Open-Label, Multiple Ascending Dose study. Allucent and Silo intend to negotiate a Master Services Agreement and project-specific Work Order to cover a comprehensive scope of activities across clinical operations, pharmacovigilance, data management, biostatistics, clinical pharmacology modeling & simulation, and medical writing to support execution and reporting of the Phase 1 program. The LOI also outlines proposed payment conditions, including an upfront amount for direct service fees and pass-through costs that would be reconciled against final project invoices.