Long-Range Strategy Seeks Diversification into Three Key Industries
NEW YORK, June 24, 2022 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) announced the formation of a wholly owned subsidiary with the purpose of making strategic investments and acquisitions across the fintech and financial services industries. The new subsidiary is expected to be the centerpiece of a long-range plan to diversify AIkido’s business beyond biotechnology, in order to reduce volatility and mitigate risk while increasing revenue and enhancing shareholder value.
The new subsidiary will leverage the extensive capital markets expertise of AIkido’s board of directors to identify investment opportunities and acquisition targets in wealth management, investment banking, alternative investments, and asset management with the goal of transforming and optimizing operations with a synergistic and accretive business model. The Company is in the process of recruiting additional top-tier talent to implement the strategy.
Anthony Hayes, CEO of AIkido stated, “Our board is made up of some of the most accomplished Wall St. executives, so we are fully confident that the financial services sector is the right next step for AIkido and our overall plan is the right path forward for our company. Our vision is to merge world-class talent with best-in-class technology to acquire revenue generating assets to drive shareholder value,” Hayes added.
“Beyond acquisitions in the financial services industries, AIkido intends to create two additional subsidiaries in the industries of health and wellness and innovative technology. Our investment portfolio was set up along these same lines. For example, the legacy biotech assets and our investment in ASP Isotopes, Kerna Health, will be part of our health and wellness subsidiary. Whereas our investments in Epics Games, SpaceX, and Discord, are foundational to our innovation subsidiary. Our assets are part of a long-term strategy to own operational and revenue generating companies in the key high-growth sectors that we have identified for investment. The proceeds from the investments in each industry, some of which we expect to receive this year, will allow us to further fund and grow revenue generating businesses in those sectors. And just like financial services, the recruitment of top talent within each subsidiary is necessary for execution. We are committed as a Company to keep shareholders informed and will provide additional information when we are able. We thank shareholders for their patience and believe we have the proper plan to navigate through the notable downturn in the biotechnology sector and build a diversified company of revenue generating assets.”
About AIkido Pharma Inc.
AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology Company with a diverse portfolio of small-molecule anticancer and antiviral 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 University of Maryland at Baltimore. Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, prostate cancer. 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.
Cautionary Note on Forward-Looking Statements
This press release and any statements of stockholders, directors, employees, representatives and partners of AIkido Pharma, Inc. (the “Company”) related thereto contain, or may contain, among other things, certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements identified by words such as “projects,” “may,” “will,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “potential” or similar expressions. These statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties, including those detailed in the Company’s filings with the Securities and Exchange Commission. Actual results (including, without limitation, the impact of the Reverse Stock Split described in this release) may differ significantly from those set forth or implied in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company’s control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.
SOURCE AIkido Pharma Inc.