AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that it will provide funding for a 30-day survival study in mice in collaboration with University of Kentucky related to the anticancer drug designated G4-1, a novel proteasome inhibitor
| NEW YORK, Aug. 18, 2020 /PRNewswire/ -- AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that it will provide funding for a 30-day survival study in mice in collaboration with University of Kentucky related to the anticancer drug designated G4-1, a novel proteasome inhibitor. In exchange, Aikido has been granted an exclusive option to license the drug (“Option”) pending the results of the study.
The Option includes two issued patents, United States Patent Nos. 9,493,439 and 9,586,946, each having expiration dates in the mid-2030’s. AIkido was previously granted an option to license these patents, which it did not exercise in favor of performing this further research. Mr. Anthony Hayes, CEO of AIkido stated, “The published mouse data on G4-1 shows exciting promise for the treatment of solid tumors compared to already approved drugs. Given those encouraging preliminary results, we agreed to fund a survival study to determine whether G4-1 can also increase survival over the marketed drugs. This transaction represents another low-risk initiative to bolster our portfolio. We optimistically anticipate the results of this study and hope they support adding G4-1 to our oncology products.” Dr. Chang-Guo Zhan, Professor, College of Pharmacy at the University of Kentucky, added, “Proteasome inhibitors in current clinical use are all peptides with very low in vivo stability. G4–1 is a non-peptide proteasome inhibitor with the desirably high in vivo stability required for the treatment of solid tumors. We are excited about the opportunity to further evaluate the therapeutic potential of G4-1 with funding supporting from AIkido.” About AIkido AIkido 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 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.
SOURCE AIkido Pharma Inc. | ||||||||||||||||||||||
Company Codes: NASDAQ-NMS:AIKI |
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