AIkido Pharma Enters Into Letter Of Intent With Silo Pharma for Use of Psilocybin and Peptide Therapy for Cancer Treatment

Rhea-AI Summary

AIkido Pharma Inc. (Nasdaq: AIKI) announced a Letter of Intent with Silo Pharma to secure a worldwide exclusive sublicense for peptide therapy combined with psilocybin for treating neuroinflammatory diseases in cancer patients. This agreement builds upon a previous licensing agreement dated January 6, 2021, enhancing AIkido's asset portfolio in psilocybin. However, the execution of this proposal may not lead to binding agreements, as it is subject to due diligence and negotiation of definitive terms.

Positive

• Secured a Letter of Intent for a worldwide exclusive sublicense for peptide therapy combined with psilocybin.
• Builds on a prior licensing agreement dated January 6, 2021, expanding AIkido's asset base.

Negative

• No assurance that the proposal will result in a binding agreement.
• Transaction is subject to customary due diligence, which may delay progress.

NEW YORK, Feb. 16, 2021 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced the execution of a Letter of Intent with Silo Pharma Inc. ("Silo") to grant to AIkido a worldwide, exclusive sublicense for use of peptide therapy, combined with psilocybin, in the therapeutic treatment of neuroinflammatory disease in cancer patients. This Letter of Intent is in addition to the January 6, 2021, licensing agreement between AIkido Pharma and Silo and these additional assets expand the Company's asset base in the area of psilocybin to treat cancer.

The Company notes that there is no assurance that the proposal will result in a binding agreement with Silo or that the transaction contemplated by the Letter of Intent, or any other transaction between the parties, will be completed. The transaction is subject to customary due diligence. Consummation of the transaction is necessarily further subject to entering into a definitive agreement between the parties containing specific signing and closing terms and conditions yet to be negotiated.

This press release shall not constitute an offer to sell or the solicitation of an offer to acquire any securities, nor shall there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About AIkido Pharma Inc.
AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company's platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipeline to treat unmet medical needs in oncology. The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.

Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Investor Relations:
Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com

AIkido Pharma Inc.:
Phone: 212-745-1373
Email: investorrelations@aikidopharma.com
www.aikidopharma.com

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SOURCE AIkido Pharma Inc.

FAQ

What is the recent development for AIkido Pharma (AIKI) regarding Silo Pharma?

AIkido Pharma announced a Letter of Intent with Silo Pharma to obtain a worldwide exclusive sublicense for peptide therapy combined with psilocybin.

When was the prior licensing agreement between AIkido and Silo Pharma made?

The prior licensing agreement was made on January 6, 2021.

What therapeutic area does the new sublicense with Silo Pharma target?

The sublicense targets therapeutic treatment for neuroinflammatory diseases in cancer patients.

Is the agreement with Silo Pharma guaranteed to succeed?

No, there is no assurance that the proposal will lead to a binding agreement.

What are the next steps after the Letter of Intent?

The transaction is subject to customary due diligence and negotiations for a definitive agreement.