Silo Pharma Expands Development Agreement with Sever Pharma for Novel Ketamine Implant Therapeutic

SARASOTA, FL, Aug. 14, 2024 (GLOBE NEWSWIRE) — Silo Pharma, Inc. (Nasdaq: SILO) (“Silo” or the “Company”), a development-stage biopharmaceutical company focused on developing novel formulations and drug delivery systems for traditional therapeutic and psychedelic treatments, today announced a new agreement with Sever Pharma Solutions to scale up extrusion of the Company’s SP-26 ketamine-loaded implant therapy targeted at fibromyalgia and chronic pain. Additionally, Sever Pharma Solutions will continue analytical testing of the ketamine hydrochloride (ketamine HCL) polymer implants using the optimal, time-release, dose-controlled formulation previously selected by Silo for continued preclinical studies.

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

If SP-26 proves clinically successful, it could qualify for the FDA’s streamlined 505(b)(2) regulatory pathway for drug approval.

About SP-26

Silo’s SP-26 is a ketamine-based injectable dissolvable polymer implant for the treatment of chronic pain and fibromyalgia. The subcutaneous implant is designed to safely regulate the dosage and time of release of the analgesic treatment.

About Silo Pharma

Silo Pharma Inc. (Nasdaq: SILO) is a development-stage biopharmaceutical company developing novel therapies to address underserved conditions, including stress-induced psychiatric disorders, chronic pain disorders, and central nervous system (CNS) diseases. Silo focuses on developing traditional therapies and psychedelic treatments into novel formulations and drug delivery systems. The company’s lead program, SPC-15, is an intranasal treatment targeting 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, visit www.silopharma.nl and connect on social media at LinkedIn , X And Facebook .

Forward-looking statements

This press 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 such as “could,” “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “continue,” “predict,” “potential” and similar expressions 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 those expressed or implied by such statements, including changes in expected revenue sources, future economic and competitive conditions, difficulties in developing the Company’s technology platforms, retaining and expanding the Company’s customer base, fluctuations in consumer spending on the Company’s products and other factors. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. The Company disclaims any obligation to publicly update the forward-looking information contained in this presentation or to release revisions thereto, 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.

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