NEW YORK, Sept. 20, 2021 /PRNewswire/ -- AIkido Pharma Inc.
(Nasdaq: AIKI) ("AIkido" or the "Company") today announced that the
Company secured an early equity interest in tele-health company,
Kerna Health (https://kernahealth.com).
Kerna Health is a next-generation digital health monitoring and
virtual care company that is exhibiting growing momentum. The
Company is fast developing a large backlog of shared revenue
contracts, typically executed with partner/customers like
multi-hospital chains and smaller hospitals, LTC (long term care)
companies, large physician practices, ACO's, and other major
healthcare players, who are looking for better patient outcomes,
large untapped revenues, and lower healthcare costs through such
contracts, by onboarding their large patient populations on Kerna's
technology platform for remote patient monitoring of chronic
illness. The Company's backlog of such executed contracts is
already at the $25 million mark in
pro-forma shareable revenues, and with additional in-process
contracts could grow to $50 million
in the short term, and $400 million
after that – evidence of a clear growth trajectory.
Kerna utilizes advanced software and online technologies,
coupled with at-home health and physiologic monitoring devices like
glucose meters, blood pressure cuffs, weight scales, and others, to
better manage chronic illness, such as cardiac diseases, diabetes,
and long-term wounds.
The technology platform gathers daily readings securely
transmitted by devices used by patients, at home, in long term or
transitional care facilities, or hospitals, and based on programmed
criteria sends alerts to a patient's primary and specialty care
providers, as well as to the patients themselves or their families.
In addition to the physiologic data monitoring associated with
such diseases, Kerna's platform also offers complementary health
support services that utilize expert content and behavior changing
recommendations and initiatives, under the direction of social
workers and other non-clinical professionals using relevant Kerna
digital technologies. An example is the behavioral health
integration program designed, paid for, and recommended by
CMS/Medicare.
(https://www.cms.gov/Outreach-and-Education/Medicare-Learning-Network-MLN/MLNProducts/Downloads/BehavioralHealthIntegration.pdf).
Anthony Hayes, CEO of AIkido
stated, "After COVID, the use of telemedicine and digital health
services, such as those provided by Kerna, has sky-rocketed. This
is also evidenced by the brand-name customers, revenue contracts
backlog that the Company is onboarding to recognize as recurring
revenues during the coming year for itself and its healthcare
provider partner/customers, and by the growing pipeline for Kerna's
technology platform. We are excited for Kerna's future and glad to
be a part of it, especially as their traction could lead toward a
potential IPO. This transaction fits perfectly with our growth
strategy as we continue our momentum with a clear focus on
monetization and liquidity events for our shareholders.
Additionally, we are in a number of additional advanced business
development discussions that we are aiming to close in the near
future."
Crystal Lore, Chief Revenue
Officer of Kerna noted, "First, we are honored and excited to be
associated with the AIkido Pharma team. In addition to investment
benefits, we believe that the health data accumulated by Kerna
could also be a basis for collaboration with AIkido. I have been a
business and revenue development professional working in the
Medicare space for over 20 years for companies that we grew fast
enough for multi-billion dollar exits – even years before now when
the space has heated up as it has. That experience simply doesn't
compare with the current market excitement, focus on digital health
and remote patient monitoring, and customer demand for online
health monitoring technologies and services we have at Kerna.
Post-COVID and the new-found focus on tele-health, there is a
market push for remote patient monitoring solutions by Medicare, on
the one hand, and a market pull by healthcare providers, on the
other. Hospitals, long term care facilities, and Doctor practices,
see large untapped incremental revenues by becoming Kerna
customers/partners, while also providing better health outcomes to
their patients. The demand is such that we are already generating a
contract backlog of annual remote patient monitoring revenues with
these healthcare partner/customers that could qualify for a Kerna
IPO in the very near term."
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.
Forward-Looking Statements
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.
Contact:
Investor Relations:
Hayden IR
Brett Maas,
Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
AIkido Pharma Inc.
Phone: 212-745-1373
Email: investorrelations@aikidopharma.com
www.aikidopharma.com
Kerna Health
Crystal
Lore, Chief Revenue Officer
Phone: 772-607-1353
Email: crystal.lore@kernahealth.com
www.kernahealth.com
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SOURCE AIkido Pharma Inc.