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 announced that it has exercised its option to license SPC-15, a prophylactic treatment for stress-induced affective disorders including anxiety and PTSD, from Columbia University, pursuant to a sponsored research and option agreement established in 2021. Under the agreement, Silo will be granted an exclusive license to further develop, manufacture and commercialize SPC-15 worldwide. “Through our research collaboration with Columbia University and our CRO studies, we have successfully taken SPC-15 through pre-clinical development to prepare for the submission of our FDA pre-investigational New Drug Application (‘IND’) by the end of the second quarter 2024,” said Eric Weisblum, CEO of Silo. “In each study, we have observed consistently strong data, which we believe warrants the exercise of our option for exclusive worldwide licensing rights for this novel drug candidate.”

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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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