Silo Pharma (NASDAQ:SILO) announced a non-binding Letter of Intent (LOI) with Allucent (US) LLC to support the Phase 1 clinical development of SPC-15, a nasal spray formulation under investigation.
The LOI, dated Dec. 30, 2025, outlines plans for two open-label studies in healthy subjects: a Single Ascending Dose (SAD) study and a Multiple Ascending Dose (MAD) study.
The companies intend to negotiate a Master Services Agreement (MSA) and a project-specific Work Order to cover various clinical operations, including pharmacovigilance, data management, biostatistics, clinical pharmacology modeling and simulation, and medical writing.
The agreement also details proposed payment terms, which include an upfront amount for direct service fees and pass-through costs, to be reconciled against final invoices.
Silo Pharma's management described the LOI as an important step toward generating safety and pharmacokinetic data for SPC-15, which could be critical in advancing the nasal spray through clinical development.