Silo Pharma (NASDAQ: SILO) is a developmental stage biopharmaceutical company focused on developing novel formulations and drug delivery systems for traditional therapeutics and psychedelic treatments. The company today provided a positive update on SP-26, its novel time-released, dose-controlled formulation of ketamine initially targeted for fibromyalgia. According to the announcement, a pre-clinical research study is underway involving analytical testing services and small batch proof-of-concept extrusion trials to determine drug release and stability. In recent testing, SP-26 polymer implants were blended with ketamine hydrochloride (“ketamine HCL”) in two loadings, 20% and 40%, and the structural stability and integrity of both the loaded implants were maintained, with no leakage, degradation or discoloration. “Implantable drug delivery systems like SP-26 may provide sustained drug delivery for prolonged periods of time, which is critical for the treatment of chronic pain conditions,” said Eric Weisblum, CEO of Silo. “We believe the initial testing provided sufficient validation of the delivery system for SP-26 and accordingly, our focus has shifted to testing of the ketamine formulation to measure drug dissolution and time-release action.”

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About Silo Pharma Inc.

Silo Pharma is a developmental-stage biopharmaceutical company developing novel therapeutics that address underserved conditions including stress-induced psychiatric disorders, chronic pain conditions and central nervous system (“CNS”) diseases. Silo focuses on developing traditional therapies and psychedelic treatments in novel formulations and drug delivery systems. The company’s lead program, SPC-15, is an intranasal treatment targeting PTSD and stress-induced anxiety disorders. SP-26 is a time-release ketamine-loaded implant for fibromyalgia and chronic pain relief. Silo’s two preclinical programs are SPC-14, an intranasal compound for the treatment of Alzheimer’s disease, and SPU-16, a CNS-homing peptide targeting multiple sclerosis (“MS”). Silo’s research and development programs are conducted through collaborations with Columbia University and the University of Maryland, Baltimore. For more information about the company, visit www.SiloPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to SILO are available in the company’s newsroom at https://ibn.fm/SILO

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