Awakn Life Sciences Signs MOU with Maps

Awakn Life Sciences Signs MOU with Maps

Agreement to Explore a Partnership for MDMA-Assisted Therapy for Treatment of Alcohol Use Disorder in Europe

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn'), a biotechnology company developing and delivering psychedelic therapeutics (medicines and therapies) to treat Addiction, announced today it has signed a Memorandum of Understanding ("MOU") with the Multidisciplinary Association for Psychedelic Studies (MAPS) to explore a partnership to utilize MDMA-assisted therapy to treat Alcohol Use Disorder (AUD) in Europe.

Under the terms of this MOU, Awakn will explore a data licensing agreement with MAPS to support Awakn's Phase IIb and planned Phase III studies for MDMA-assisted therapy for AUD in Europe. Awakn and MAPS will also assess a partnership to secure marketing authorisation/regulatory approval for the ethical commercialization of MDMA-assisted therapy for the treatment of AUD in Europe.

AUD is a chronic disease affecting 40 million people in Europe and 390 million people globally. It is also a pervasive and persistent public health issue, with alcohol use being one of the top five causes of disease and disability in the majority of countries in Europe. And for each person suffering from AUD, there is a friend, a partner, or a family also deeply affected by it.

In February 2021, Awakn announced the publication of the successful results of the BIMA Phase IIa study investigating MDMA-assisted therapy for the treatment of AUD, reporting a 21% relapse rate at 9 months in comparison to a 75% relapse rate in a separate observational group.

In May 2021, MAPS announced that it achieved successful results in its first of two Phase III trials for MDMA-assisted therapy for the treatment of severe chronic PTSD. In this study, 88% of participants who received three MDMA-assisted therapy sessions - along with twelve 90-minute, non-drug preparation and integration therapy sessions - experienced a clinically meaningful reduction in symptoms. 67% of participants no longer qualified for a PTSD diagnosis.

"MAPS' role in driving and advancing the use of psychedelics in the clinical setting over the last 35 years is second to none," said Anthony Tennyson, Awakn's CEO. "We believe that by licensing MAPS' pre-clinical data and exploring options for future ethical commercialisation, we will improve the timeline and path to market for these life-changing treatments for AUD, providing hope for those for whom the status quo is not working."

"MAPS has been working with AWAKN scientists for decades in the effort to initiate trials into a range of clinical uses of MDMA-assisted therapy," shares Rick Doblin, Founder and Executive Director of MAPS. "We're delighted to be entering into this MoU with AWAKN which holds great promise for people suffering from AUD."

Awakn also recently announced groundbreaking results from its Phase IIa/b 'Ketamine for the Reduction of Alcoholic Relapse' (KARE) clinical trial. It was the first controlled study in the world to investigate Ketamine-assisted therapy for the treatment of AUD and was published in the American Journal of Psychiatry in January. The study, conducted by the University of Exeter (UoE) and led by Prof. Celia Morgan, Professor of Psychopharmacology at UoE and Awakn's Head of Ketamine-Assisted Therapy for addiction showed that ketamine and psychological therapy resulted in an 86% abstinence rate 6 months post treatment, an increase from 2% before the trial.

"This is another milestone in the advancement of successfully treating Alcohol Use Disorder," said Awakn CMO Dr. Ben Sessa. "Currently there are millions suffering with very few promising lasting treatments and be it with MDMA or Ketamine-Assisted Therapy, we are exploring every promising avenue to treat a disease that not only impacts the individual, but also families and communities."

NOTE
The safety and efficacy of MDMA-assisted therapy is currently under investigation. It has not yet been approved by medical regulators, does not work for everyone, and carries risks even in therapeutic settings. These statements are no guarantee of future regulatory approval or availability of MDMA-assisted therapy. These statements necessarily involve known and unknown risks and uncertainties, which may cause actual outcomes to differ materially from our projections.

About MAPS
Founded in 1986, MAPS is a 501(c)(3) non-profit research and educational organization that develops medical, legal, and cultural contexts for people to benefit from the careful uses of psychedelics and marijuana. MAPS is sponsoring the most advanced psychedelic therapy research in the world: Phase 3 clinical trials of MDMA-assisted therapy for PTSD. Since its founding, MAPS has raised over $130 million in donations and grants for psychedelic and marijuana research and education and has earned both the Guidestar Platinum Seal of Transparency and a 4-Star Rating from Charity Navigator. Learn more at maps.org.

About Awakn Life Sciences Corp.
Awakn Life Sciences is a biotechnology company, researching, developing, and delivering psychedelic therapeutics to better treat addiction. Awakn's team consists of world leading chemists, scientists, psychiatrists, and psychologists who are advancing the next generation of psychedelic drugs and therapies to be used in combination.

www.awaknlifesciences.com | Twitter | LinkedIn | Facebook

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 the intended business of the Company, the expansion of the Company's business, generation of revenue. All forward-looking statements, including those herein are qualified by this cautionary statement.

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 / Anna Ramsey
Awakn@roadcommunications.co.uk

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110706

News Provided by Newsfile via QuoteMedia

AWKN:AQL
The Conversation (0)
Awakn Life Sciences' Phase III Trial to Be Delivered in the UK National Health Service

Awakn Life Sciences' Phase III Trial to Be Delivered in the UK National Health Service

Phase III trial confirmed to cost CA$3.75 million, with a UK Government agency funding 66% of this cost

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn'), a revenue-generating biotechnology company researching, developing, and commercializing therapeutics to treat addiction with a near-term focus on Alcohol Use Disorder (AUD), announces that its Phase III clinical trial exploring the use of ketamine-assisted therapy for the treatment of severe AUD will be delivered across seven NHS sites in the UK. The trial has also been approved for grant funding for 66% of the costs by the National Institute for Health and Care Research (NIHR), a UK government agency. It is currently forecast the trial will cost approximately CA$3.75 million in total, with Awakn funding approximately CA$1.25 million of that.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Awakn Life Sciences Announces Signing of Lease for Second Clinic in Norway

Awakn Life Sciences Announces Signing of Lease for Second Clinic in Norway

Trondheim in central Norway will be the location of Awakn's 4th clinic

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn'), a revenue-generating biotechnology company researching, developing, and commercializing therapeutics to treat addiction with a near-term focus on Alcohol Use Disorder (AUD), announces today the signing of a 5-year lease to open Awakn Clinics Trondheim. The new clinic is part of the second stage of Awakn's Nordic expansion plans, following on from last week's announcement of a move to a larger premises for its Oslo clinic.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Awakn Life Sciences Announces Location for Larger Oslo Clinic

Awakn Life Sciences Announces Location for Larger Oslo Clinic

Awakn's Nordic expansion begins with new Awakn Clinics Oslo

 Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn'), a revenue-generating biotechnology company researching, developing, and commercializing therapeutics to treat addiction with a near-term focus on Alcohol Use Disorder (AUD), announces today the signing of a 5-year lease to open a larger Awakn Clinics Oslo. The move to the new Oslo premises is the first stage of Awakn's Nordic expansion plans.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Awakn Life Sciences Signs Its Third Licensing Partnership Agreement in North America, and First in New York

Awakn Life Sciences Signs Its Third Licensing Partnership Agreement in North America, and First in New York

Awakn will Partner with Nushama, One of New York's Leading Ketamine-assisted Therapy Centers

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn'), a revenue-generating biotechnology company researching, developing, and commercializing therapeutics to treat addiction with a near-term focus on Alcohol Use Disorder (AUD), announces it has signed its third Licensing Partnership agreement in North America. The agreement is with Nushama a leading network of ketamine-assisted therapy centers that exist to humanize medicine, together they will bring Awakn's Ketamine-assisted therapy treatment for AUD to Nushama's clinic in New York City (NYC).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Awakn Life Sciences Secures Funding to Expand Nordic Commercial Operations

Awakn Life Sciences Secures Funding to Expand Nordic Commercial Operations

Awakn has raised approx. CAD$775K to grow its Nordic clinics business

Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ("Awakn"), a revenue-generating biotechnology company researching, developing, and commercializing therapeutics to treat addiction with a near-term focus on Alcohol Use Disorder (AUD), today announces that its wholly-owned subsidiary Awakn Oslo AS ("Awakn Oslo") has entered into a debt financing agreement (the "Loan Agreement") with TD Veen AS (the "Lender"), a family-owned, Norwegian investment company and current shareholder of Awakn.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Compass Pathways to Participate in December Investor Conferences

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that members of the executive management team will participate in the following investor conferences in addition to hosting investor meetings:

  • 7 th Annual Evercore ISI HealthCONx Conference: Fireside chat at 10:25am ET on December 3, 2024
  • Piper Sandler 36 th Annual Healthcare Conference: Fireside chat at 3:30pm ET on December 4, 2024

A live audio webcast of these events will be accessible here for 30 days following the events.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Compass Pathways to participate in Stifel 2024 Healthcare Conference

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will present at the Stifel 2024 Healthcare Conference at 10:55 am ET on November 19, 2024.

A live audio webcast of the presentation will be accessible from the "Events" page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following each event.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Compass Pathways Announces Third Quarter 2024 Financial Results and Business Updates

  • Top-line COMP005 data for COMP360 phase 3 pivotal program in treatment-resistant depression now expected in second quarter 2025
  • COMP006 data will now be announced after 26-week time point, expected in the second half of 2026
  • Strategic reorganization to focus all efforts on COMP360 program resulting in reduction of workforce of approximately 30%
  • Cash position of $207 million
  • Conference call October 31 at 8:00 am ET (12:00 pm UK)

Compass Pathways plc (Nasdaq: CMPS) ("Compass"), a biotechnology company dedicated to accelerating access to evidence-based innovation in mental health, today reported its financial results for the third quarter 2024 and an update on recent business progress.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Emyria Limited

Emyria and UWA in Partnership to Commercialise Novel Serotonin-Releasing Agents for Mental Health and Neurology

Emyria Limited (ASX: EMD) (“Emyria”, or the “Company”) has signed an exclusive licence agreement with UWA, granting worldwide rights to a rapidly growing portfolio of selective serotonin-releasing agents. (See Appendix for Key Commercial Terms). These novel compounds, realised through a UWA–Emyria research partnership launched in 2021,2 include potential next-generation treatments for mental health and neurological conditions such as PTSD and Parkinson’s disease.

Keep reading...Show less

Seelos Announces Second Postponement of its Annual Meeting of Stockholders

Seelos Therapeutics, Inc. (OTCQB: SEEL) ("Seelos"), a clinical-stage biopharmaceutical company focused on the development of therapies for central nervous system disorders and rare diseases, today announced that its 2024 Annual Meeting of Stockholders (the "Annual Meeting"), which was previously postponed to Friday, October 25, 2024 from its originally scheduled date of Friday, September 27, 2024 has been further postponed. The Annual Meeting is now scheduled to be held virtually, via live webcast at www.virtualshareholdermeeting.comSEEL2024 on Monday, November 25, 2024 at 8:00 a.m., Eastern Time . The record date for the Annual Meeting, August 19, 2024 is unchanged and applies to the postponed Annual Meeting.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Compass Pathways to Announce Third Quarter Financial Results on October 31, 2024

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that it will release financial results for the third quarter 2024 ending September 30, 2024, and provide an update on recent business developments, on October 31, 2024.

The management team will host a conference call at 8:00 am ET (12:00 pm UK) on October 31, 2024. To access the call, please register in advance here to obtain a local or toll-free phone number and your personal pin.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×