Therapy Areas: Oncology
AIkido Pharma establishes wholly owned financial services subsidiary
27 June 2022 -

AIkido Pharma Inc. (Nasdaq: AIKI), a US-based biotechnology company, concentrating on developing small-molecule anti-cancer therapeutics, announced on Friday that it has established a wholly owned financial services subsidiary.

The company has set up the subsidiary with the aim of making strategic investments and acquisitions across the fintech and financial services industries. It is intended to be the focus of a long-range plan to diversify the company's business beyond biotechnology, in order to decrease volatility and mitigate risk while increasing revenue and improving shareholder value.

The company said that the new subsidiary is to use the extensive capital markets expertise of the company's board of directors to identify investment opportunities and acquisition targets in wealth management, investment banking, alternative investments, and asset management with the aim of transforming and optimising operations with a synergistic and accretive business model. The firm said that it is in the process of hiring additional top-tier talent to implement the strategy.

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