Benzinga | Feb 16, 2021 08:37AM EST

AIkido Pharma Enters Into Letter Of Intent With Silo Pharma For Use Of Psilocybin And Peptide Therapy For Cancer Treatment

NEW YORK, Feb. 16, 2021 /PRNewswire/ -- AIkido Pharma Inc. (NASDAQ:AIKI) ("AIkido" or the "Company") today announced the execution of a Letter of Intent with Silo Pharma Inc. ("Silo") to grant to AIkido a worldwide, exclusive sublicense for use of peptide therapy, combined with psilocybin, in the therapeutic treatment of neuroinflammatory disease in cancer patients. This Letter of Intent is in addition to the January 6, 2021, licensing agreement between AIkido Pharma and Silo and these additional assets expand the Company's asset base in the area of psilocybin to treat cancer.

The Company notes that there is no assurance that the proposal will result in a binding agreement with Silo or that the transaction contemplated by the Letter of Intent, or any other transaction between the parties, will be completed. The transaction is subject to customary due diligence. Consummation of the transaction is necessarily further subject to entering into a definitive agreement between the parties containing specific signing and closing terms and conditions yet to be negotiated.

This press release shall not constitute an offer to sell or the solicitation of an offer to acquire any securities, nor shall there be any sale of any securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.