NEW YORK , Sept. 28, 2021 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that the Company secured an equity interest in Tevva Motors Ltd , an electric truck producer with range extended vehicles on the road now.
Tevva Motors Ltd is a UK-based, leading developer of modular electrification systems for medium duty commercial vehicles. Using a system engineering approach, Tevva has developed world-class electric vehicle technology that adheres to the most rigorous of standards to ensure safety, reliability and durability. Tevva’s core proprietary technologies – comprising battery pack and management system, control system, software, and optional range extender – are applicable to almost any current 7.5t – 14t truck and is supplied as a package to OEMs for integration with their vehicles.
Anthony Hayes , CEO of AIkido, noted, “From a commercial standpoint, delivery trucks are a $100 billion global market and demand for a cost effective, zero emission solution is growing by the day. With strategic partners and early customers including, Ryder, Hitachi and UPS, and with Tevva vehicles already being used in their delivery services, Tevva is well positioned to take advantage of this rapidly growing sector.” Mr. Hayes went on to state, this unique and high growth opportunity represents an opportunity to partake in a rapidly expanding field, with the possibility of an exit in early 2022 as Tevva pursues a public listing. As we continue to focus on our core business, which is drug development. However, in our search for opportunities in our space, this unique growth opportunities with strong likelihood for monetization events, was presented to us. We are always looking to create shareholder value while limiting exposure in exciting and growing industries. We hope this short-term opportunity becomes an asset for our shareholders, like DatChat.”
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 University of Maryland at Baltimore . Our diverse pipeline of therapeutics includes therapies for pancreatic cancer and 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.
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.
View original content to download multimedia: https://www.prnewswire.com/news-releases/aikido-pharma-secures-interest-in-electric-truck-maker-tevva-motors-ltd-301386841.html
SOURCE AIkido Pharma Inc.
News Provided by PR Newswire via QuoteMedia