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.
Contact:
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Investor
Relations:
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Hayden IR
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Brett Maas, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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AIkido:
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Phone:
212-745-1373
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Email:
investorrelations@AIkido.com
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www.AIkido.com
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SOURCE AIkido Pharma Inc.