Silo Pharma (NASDAQ: SILO), a developmental-stage biopharmaceutical company focused on developing novel formulations and drug-delivery systems for traditional therapeutics and psychedelic treatments, has entered a new agreement with Sever Pharma Solutions. According to the announcement, the agreement is regarding scale-up extrusion of Silo’s SP-26 dissolvable, ketamine-based, injectable implant designed for the treatment of fibromyalgia and chronic pain. The announcement also noted that Sever Pharma Solutions will continue performing the analytical testing of the ketamine hydrochloride (ketamine HCL) polymer implants using the optimal time-released, dose-controlled formulation previously selected by Silo for continuing preclinical studies.

“Sever Pharma Solutions has been our partner for earlier production of the ketamine implants and validation of the delivery system through successful assay testing,” said Silo CEO Eric Weisblum in the press release. “We are pleased to continue our collaboration as we move forward with further preclinical testing of our novel nonopioid chronic pain therapeutic. This process is expected to bring Silo closer to selecting the optimal final dosage and formulation in SP-26 to be utilized in animal studies.”

To view the full press release, visit https://ibn.fm/Nhg7Z

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 post-traumatic stress disorder (“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 universities and independent laboratories. 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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