GlobeNewswire Inc | Oct 7, 2021 08:11AM EDT

October 07, 2021

Englewood Cliffs NJ, Oct. 07, 2021 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTCQB: SILO) a development-stage biopharmaceutical company focused on the use of psychedelics as a therapeutic, today announced that their joint venture partner Zylo Therapeutics received approval from the DEA to advance the development of their Z-pod technology in combination with Ketamine.

Eric Weisblum, CEO of Silo Pharma statedThe development of a transdermal Ketamine therapeutic with the patented Z-Pod technology is an exciting opportunity for Silo. The DEAs approval advances the development and ability to deliver Ketamine and potentially Psilocybin in a time-released or dosage-controlled manner. We look forward to updating investors on this partnership as milestones are achieved.

About Silo PharmaSilo Pharma. Inc. 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 Maas646-536-7331Email: brett@haydenir.com