AIkido Pharma Inc. Executes Licensing Agreement for Psilocybin for Cancer Applications

Rhea-AI Summary

AIkido Pharma Inc. (Nasdaq: AIKI) announced a Patent License Agreement for psilocybin technology aimed at cancer applications. This innovative technology is backed by four pending patent applications with the U.S. Patent and Trademark Office. Psilocybin, a psychedelic compound, has shown promise in alleviating cancer-related depression and anxiety, with research indicating lasting emotional benefits from single-dose treatments. CEO Anthony Hayes expressed enthusiasm for exploring psilocybin's potential in cancer treatment, which is an expanding area of interest.

Positive

• Executed a Patent License Agreement for psilocybin technology targeting cancer applications.
• Psilocybin has shown potential to treat cancer-related depression and anxiety.
• Backed by four pending patent applications with the U.S. Patent and Trademark Office.
• Research indicates significant emotional benefits from psilocybin treatments lasting nearly five years.

Negative

• None.

NEW YORK, Jan. 6, 2021 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced that the Company executed a Patent License Agreement for technology that covers the use of psilocybin for cancer applications.  The technology is covered by four patent applications already on file with the United States Patent and Trademark Office.

Psilocybin is a naturally occurring psychedelic compound.  Research has shown psilocybin to have potential to treat a range of psychiatric and behavioral disorders, notably, cancer-related depression and anxiety.  The use of psilocybin to treat cancer patients is a growing field.  Studies by such notable institutions as Johns Hopkins and NYU Grossman School of Medicine found that one-time, single-dose treatments of psilocybin, combined with psychotherapy, appears to be associated with significant improvements in emotional distress in people with cancer and that these effects persisted nearly five years after the drug was administered. 

Mr. Anthony Hayes, CEO of AIkido, stated, "We are excited to explore this aspect of cancer treatment.  Our license covers the use of psilocybin to treat both cancer and cancer side-effects and we believe this to be an expanding area for treatment."

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 AIkido Pharma's recent announcement regarding psilocybin technology?

AIkido Pharma announced a Patent License Agreement for psilocybin technology aimed at cancer applications.

How many patent applications does AIkido have related to the psilocybin technology?

AIkido has four pending patent applications covering the psilocybin technology.

What potential benefits does psilocybin have for cancer patients according to research?

Research shows psilocybin may help treat cancer-related depression and anxiety, with lasting emotional improvements.

On what date did AIkido Pharma announce the licensing agreement for psilocybin?

The announcement was made on January 6, 2021.

What is the stock symbol for AIkido Pharma?

The stock symbol for AIkido Pharma is AIKI.