BUZZ-Silo rises on deal to jointly develop ketamine-based implant to manage pain

Reuters2024-11-29

** Drug developer Silo Pharma's SILO.O shares rise 12.2% to $1.01 premarket

** Co says it has entered into a joint development agreement with privately-held Kymanox for SP-26, a ketamine-based implant device for fibromyalgia and chronic pain

** Kymanox will conduct an initial proof-of-concept design phase followed by full system prototype and feasibility testing to determine optimal insertion depth in tissue

** Kymanox is also SILO's regulatory partner for SPC-15, a targeted treatment for stress-induced affective disorders including PTSD

** Up to last close, SILO down 37.5% YTD

(Reporting by Puyaan Singh)

((Puyaan.Singh@thomsonreuters.com;))

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