GlobeNewswire Inc | Jul 7, 2021 08:15AM EDT

July 07, 2021

Englewood Cliffs NJ, July 07, 2021 (GLOBE NEWSWIRE) --

-- Silo and University of Maryland, Baltimore extend Option agreement -- Rheumatoid arthritis (RA) is a chronic disease in which autoimmune attack leads to joint inflammation, deformities and disability

Silo Pharma, Inc. (OTC QB: SILO), a developmental stage biopharmaceutical company, today announced that it has extended its exclusive option agreement with the University of Maryland, Baltimore to explore a novel invention generally known as Joint-homing peptides for use in the investigation and treatment of arthritogenic processes.

This extended option gives Silo further evaluation period to access this unique and potentially vital therapeutic that can also act as a drug delivery platform, stated Eric Weisblum, Chairman and CEO of Silo Pharma. The ability to deliver traditional therapeutics, psilocybin or other psychedelic drugs directly to targeted areas of the body with this technology could be revolutionary by increasing the efficacy of the treatment while reducing toxicity and the amount of medication needed.

About Silo PharmaSilo Pharma is a development 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 StatementsThis 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