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Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn'), a biotechnology company, researching, developing, and delivering revolutionary therapeutics to treat addiction, today is providing shareholders with a business update on its three fully-operational ketamine-assisted therapy clinics, two in the UK and one in Norway.
Awakn's clinics team consists of some of the world's leading authorities in the ketamine/psychedelic-assisted therapy industry, including Dr. Ben Sessa, Awakn's Chief Medical Officer; Dr. Laurie Higbed, Awakn's Lead Psychologist, Prof. Celia Morgan, Awakn's Head of Ketamine-Assisted Therapy, Dr. Lowan Stewart, Managing Director - Nordics and James Collins, Managing Director, Awakn Clinics and Chief Operating Officer of Awakn.
Awakn Clinics Bristol was Awakn's and the UK's first medical psychedelic-assisted therapy clinic. The clinic opened during the fourth quarter of 2021 and is now moving into its sixth month of ongoing operations with strong demand for both its evidence backed 'KARE' protocol for the treatment of Alcohol Use Disorder (AUD), and its ketamine-assisted therapy for treating depression, anxiety, PTSD and eating disorders.
Awakn Clinics Oslo (formerly Axonklinikken) is one of the Nordics leading ketamine-assisted therapy clinics and was acquired by Awakn in late 2021. The first quarter of 2022 saw Awakn complete the integration of Axonklinikken into its clinics network and in March 2022 officially rebranded the clinic as Awakn Clinics Oslo. Awakn Clinics Oslo is now also providing both Awakn's evidence backed 'KARE' and ketamine-assisted therapy to clients from all over Norway.
Awakn Clinics London is Awakn's flagship clinic and is now open and treating clients after receiving regulatory approval to begin operations in March 2022. Like Awakn's other clinics, it is offering their evidence backed treatments for a range of mental health illnesses and addictions.
The KARE protocol for the treatment of AUD was developed in Awakn's Phase II a/b clinical trial, of which the results were published in January 2022 in the American Journal of Psychiatry. Awakn is the only company in the world now delivering evidence backed ketamine-assisted therapy for the treatments of AUD, a chronic and poorly treated disease affecting 400 million people globally.
Dr. Ben Sessa commented, "To have three clinics operational and delivering ketamine-assisted therapy in such a short space of time is hugely gratifying. The clinics provide an excellent opportunity for Awakn's development, but most importantly it's the fact that we are able to help such a such a large cohort of people who have struggled to find an effective treatment for them and their illness."
Awakn's business model consists of three different business arms, 1) Research & Development, 2) Clinics and 3) Therapeutics Commercialization. The clinical network enables Awakn to deliver ground-breaking and evidence-backed therapeutics developed by the company's R&D business through its research and clinical trials. Implementing these patient-centered protocols and therapies have quickly proved critical in providing a new hope to so many people suffering from addiction and mental health issues.
The structure of the business model also allows Awakn to hone and fine tune the delivery model for their therapeutics while amassing real world data and evidence to support its regulatory approval applications. The Therapeutics Commercialization business then takes these protocols and licenses them to partners outside of the environments where Awakn has a physical footprint, starting with the US and Canada in Q3 of this year, equipping them with novel treatments to deliver more effective care for their clients.
About Awakn Life Sciences Corp.
Awakn Life Sciences is a biotechnology company, researching, developing, and delivering revolutionary therapeutics to treat addiction. Awakn's team consists of renowned research experts and world leading chemists, scientists, psychiatrists, and psychologists. Addiction is one of the biggest unmet medical needs of our time, affecting over 20% of the global population and is an industry valued at over $100bn per annum. Awakn is disrupting this underperforming industry by rapidly advancing the next generation of psychedelic drugs and therapies to be used in combination, through preclinical research and clinical stage trials.
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Notice Regarding Forward-Looking Information
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating to the proposed NEO listing, and the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.
Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include: whether conditions to the listing on NEO will be satisfied; the business plans and strategies of the Company, the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's and Awakn's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Investor Enquiries:
KCSA Strategic Communications
Valter Pinto / Tim Regan
Phone: +1 (212) 896-1254
Awakn@KCSA.com
Media Enquiries:
America and Canada: KCSA Strategic Communications
Anne Donohoe
Adonohoe@KCSA.com
Rest of World: ROAD Communications
Paul Jarman / Nora Popova
Awakn@roadcommunications.co.uk
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120232
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