GlobeNewswire Inc | Jan 26, 2021 08:18AM EST

January 26, 2021

Englewood Cliffs, NJ, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTCQB: SILO), a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, PTSD, Parkinsons, and other rare neurological disorders, announced today it has exercised its option to take an exclusive license for patents owned by the University of Maryland Baltimore for the treatment of Neuroinflammatory Disease.

The exercise of the option agreement allows for Silo to negotiate an exclusive patent license agreement. The option agreement included pre-negotiated business terms for the exclusive patent license, which we expect to finalize shortly.

Mr. Eric Weisblum, Chairman and CEO of Silo Pharma, commented, Silo is pleased to advance our research collaboration with UMB in the fight against Neuroinflammatory diseases. We are focused on the development of this novel therapeutic targeting those who have been afflicted with CNS inflammatory diseases. Management looks forward to sharing the preclinical results of this Novel Homing Peptide upon completion of our initial study in connection with UMB."

About Silo Pharma

Silo Pharma is a developmental stage biopharmaceutical company focused on merging traditional therapeutics with psychedelic research for people suffering from indications such as depression, PTSD, Parkinsons, and other rare neurological disorders. Silos mission is to identify assets to license and fund the research which we believe will be transformative to the well-being of patients and the health care industry. For more information, visitwww.silopharma.com.

Safe Harbor and Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of words could, believe, anticipate, intend, estimate, expect, may, continue, predict, potential and similar expressions that are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of Silo Pharma, Inc. (Silo or the Company) to differ materially from the results expressed or implied by such statements, including changes to anticipated sources of revenues, future economic and competitive conditions, difficulties in developing the Companys technology platforms, retaining and expanding the Companys customer base, fluctuations in consumer spending on the Companys products and other factors. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company disclaims any obligations to publicly update or release any revisions to the forward-looking information contained in this presentation, whether as a result of new information, future events, or otherwise, after the date of this presentation or to reflect the occurrence of unanticipated events except as required by law.

Investor Relations Contact:

Hayden IRBrett Maas 646-536-7331 Email: brett@haydenir.com