Silo Pharma Diversifies into AI with Qwikagents Asset Acquisition, Targeting $47-$53 Billion Market by 2030
Silo Pharma expands beyond biopharmaceuticals into artificial intelligence by acquiring Qwikagents.ai's assets, aiming to capitalize on the rapidly growing AI agent market while advancing its PTSD drug program.
Silo Pharma Inc. (NASDAQ: SILO) announced a strategic expansion into artificial intelligence as a second line of business by acquiring assets from Qwikagents.ai, a platform designed to deploy autonomous AI agents for tasks including research, content generation, scheduling, and workflow automation. The move positions the company to capitalize on a rapidly growing AI agent market projected to reach $47 billion to $53 billion by 2030, according to the press release.
The acquisition marks a significant pivot for Silo Pharma, which has primarily focused on biopharmaceutical development. The company will now pursue a dual strategy: advancing its biopharmaceutical pipeline while developing AI-driven revenue opportunities. The Qwikagents platform enables businesses to automate repetitive tasks, potentially reducing operational costs and increasing efficiency.
While expanding into AI, Silo Pharma continues to progress its lead drug candidate, SPC-15, a treatment for post-traumatic stress disorder (PTSD). The company is working toward an investigational new drug application submission and Phase 1 clinical trials for SPC-15. Silo’s therapeutic focus includes underserved conditions such as stress-induced psychiatric disorders, chronic pain, and central nervous system diseases. Its portfolio also includes SP-26 for fibromyalgia and chronic pain, as well as preclinical assets targeting Alzheimer’s disease and multiple sclerosis, developed in collaboration with leading universities and laboratories.
The AI agent market's projected growth presents a substantial opportunity. Market estimates suggest the sector could reach between $47 billion and $53 billion by 2030, driven by increasing adoption of automation across industries. Silo Pharma’s entry into this space through the Qwikagents acquisition allows it to leverage existing AI infrastructure without building from scratch.
For more details on the acquisition, the full press release is available at https://ibn.fm/XJG64. Investors seeking the latest updates on SILO can access the company’s newsroom at https://ibn.fm/SILO.
This strategic shift underscores a broader trend of biotech companies diversifying into technology sectors to tap into high-growth markets. Silo Pharma’s ability to balance its biopharmaceutical development with AI commercialization will be key to its future performance.