The company utilizes technology developed in South Africa over the past 20 years to enrich isotopes of elements or molecules with low atomic masses.
AIkido Pharma Inc. (Nasdaq: AIKI) ("AIkido" or the "Company") today announced that the Company secured a strategic equity interest in ASP Isotopes, Inc., which focuses on the non-nuclear supply of enriched isotopes.
ASP Isotopes' Aerodynamic Separation Process is a method of enriching molybdenum-100 which is a stable isotope of molybdenum. Technetium-99m is the most used radioisotope in the nuclear imaging industry, but the supply chain, which involves the radioactive decay of molybdenum-99 has been fraught with problems during the last 20 years. Mo-100 can be converted into Technetium-99m closer to the point of care thus eliminating the complex supply chain that currently exists and the risk of a supply interruption to the hospital and radiological pharmacy. ASP Isotopes is currently constructing a 20 Kg/year production plant in South Africa during 2021/22. There has been significant interest from potential customers for volumes exceeding 100% of the capacity of the first manufacturing plant. The company intends to enter into "take or pay" style offtake agreements with customers and by 2028, ASP Isotopes Inc intends to be a leading supplier of non-nuclear enriched isotopes generating over $150 million in EBITDA per annum.
Paul Mann, Chairman and CEO of ASP Isotopes commented: "The ASP Technology has been developed over the last 18 years. Following this capital raise, we believe that we are in a strong position to complete our first manufacturing plant for Molybdenun-100. Given the inherent challenging nature of the current supply chain, there has been considerable interest from potential customers, and we look forward to beginning commercial operations in the future. We would like to thank AIkido Pharma for their strategic investment in ASP Isotopes and we look forward to delivering extraordinary shareholder returns during the next several years".
Anthony Hayes, CEO of AIkido, noted, "This clearly exemplifies another high growth opportunity for us with a potential monetization event in the first half of 2022. ASP's unique technology, large market opportunity, notable investors and well accomplished management team are what initially attracted us to this opportunity. Our strategic investment in ASP Isotopes is exciting as they may have the best solution to help solve the current supply chain issue of a potential supply side shock with their Aerodynamic Separation Process. The Mo-99 market is currently estimated to be valued at $3.8 billion per year but with nine out of ten facilities expected to close within 10 years many governments and companies are exploring alternative methods of producing MO-99. We remain focused on continuing to acquire assets in our space that we believe will create shareholder value and possible monetization in the next 6-9 months."
About ASP Isotopes Inc. ASP Isotopes Inc. was incorporated in 2021 and is an isotope enrichment company. The company utilizes technology developed in South Africa over the past 20 years to enrich isotopes of elements or molecules with low atomic masses. Many of these elements are unsuitable for enrichment using traditional methods such as centrifuges. The company's first commercial product will be Molybdenum 100, which has the potential to replace Molybdenum 99, a commonly used product in the diagnostic imaging market.
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. Additionally, the Company has interests in high growth opportunities in diverse sectors with potential near term monetization events.