Benzinga | Apr 7, 2021 10:39AM EDT

Aikido Secures Sublicense For Psilocybin Treatment of Neuro-Inflamed Tissue in Cancer Patients

* Aikido Pharma Inc (NASDAQ: AIKI) has been granted an exclusive sublicense to technology related to the use of the central nervous system (CNS) homing peptides to treat neuroinflammatory disease in cancer patients.

* The homing peptides covered by the sublicense can facilitate the delivery of therapeutic agents to inflamed CNS tissue.

* Psychedelics such as psilocybin have been shown to have anti-inflammatory activity in addition to their potential efficacy for the treatment of broad neurological disorders.

* The company says that this sublicense culminates the Letter of Intent previously announced on February 16. It also complements recently announced support of the psilocybin research for post-traumatic stress disorder treatment at Mount Sinai Center for Psychedelic Psychotherapy and Trauma Research.

* Psilocybin is a hallucinogenic substance from certain types of mushrooms that are also known as magic mushrooms.

* Price Action: AIKI shares were trading 1.75% higher at $1.16 in the market trading session on the last check Wednesday.