Silo Pharma Inc. announced a licensing agreement with up-front payment valued at $1 Million. The license agreement with Aikido Pharma Inc., grants Akido an exclusive, royalty-bearing license to certain intellectual property owned by Silo Pharma to develop therapeutics for the treatment and complications of cancer. In consideration for granting the license, Silo Pharma received a one-time cash payment of $500,000 and shares of newly designated Convertible Preferred Stock valued at $500,000 on the date of execution of the license. Silo Pharma will also be entitled to potential royalty payments on Net Sales (as defined in the Agreement) in the event that the licensed property is commercially developed.