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 into an agreement with WuXi AppTec (Hong Kong) Limited, a leading global contract research organization (“CRO”). The agreement regards the launch of a preclinical small animal study of SPU-16, a central nervous system (“CNS”) homing peptide targeting multiple sclerosis (“MS”). According to the announcement, Silo Pharma is advancing SPU-16 development through a commercial evaluation license and option agreement with the University of Maryland, Baltimore (“UMB”).

“We are excited to launch this new study of our novel CNS homing peptide under the management of WuXi AppTec, one of the largest CROs in Asia and globally,” said Silo CEO Eric Weisblum. “Designed to cross the blood-brain barrier and target damaged tissue and inflammation, SPU-16 has been shown to enhance the therapeutic effect of current and future therapeutics while decreasing the toxicity of the drugs. While we are currently investigating the peptide for MS, it could provide similar benefits for multiple neuroinflammatory pathologies.”

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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 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 Columbia University and the University of Maryland, Baltimore. For more information about the company, visit http://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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