Awakn Life Sciences Signs Its Third Licensing Partnership Agreement in North America, and First in New York
Toronto, Ontario–(Newsfile Corp. – November 9, 2022) – 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).
Awakn’s proprietary treatment protocol was developed and validated in a Phase II a/b trial. The trial delivered 86% abstinence over the six-months post-treatment versus 2% pre-trial. This efficacy is significantly better than the current standard of care for AUD which has an approximate 25% abstinence rate over a similar timeframe.
Under the terms of the license agreement, Awakn will provide access to its proprietary therapeutics and training to Nushama practitioners, and in return, Nushama will pay Awakn an annual fee and a revenue share per treatment. Traditional AUD rehabilitation facilities range nationally from US$20,000 to US$65,000 per month and start at US$50,000 in NYC. However, Awakn’s protocol at Nushama will cost a one-time fee of US$12,500, a fraction of such facilities with superior efficacy rates.
The U.S. alcohol and substance addiction treatment industry is significant with 14,000+ treatment facilities across the country generating more than $35bn in revenue, even with its low efficacy rates. Awakn aims to improve performance of the addiction industry by providing clinic operators, such as Nushama, with access to an efficient and more effective treatment option under license.
Anthony Tennyson, Awakn CEO commented “We are very excited to partner with Nushama and their exceptional team, who are leaders in ketamine-assisted therapy in one of the world’s largest markets with a high volume of people being treated. Expanding our U.S. reach to include such an important market as New York City, with planned expansion across the Northeast region, is a major milestone for our program. There is a shared understanding between us that the current standard of care for the treatment of alcohol addiction just isn’t good enough and together we will deliver a more efficacious and cost-effective treatment to the growing number of people who so desperately need it.”
Richard Meloff, Nushama Co-Founder and President added “Awakn has assembled one of the finest scientific teams in the world for the study of psychedelics and the treatment of addiction. Given the magnitude of alcoholism and staggeringly high relapse rates, we felt an urgency to offer a new solution that is both efficacious and cost-effective.”
About Awakn Life Sciences Corp.
Awakn Life Sciences Corp. is a revenue-generating biotechnology company researching, developing, and commercialising therapeutics to treat substance and behavioral addictions. Awakn has a near-term focus on Alcohol Use Disorder (AUD), a condition affecting 285m people globally for which the current standard of care is inadequate. Our goal is to provide effective therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels.
Nushama is driven to heal a growing mental health crisis through the evidence-led power of psychedelics. Guided by a team with deep and recognized expertise in mental health, design, and community building, Nushama applies hospitality to medicine and provides a holistic path of mindful intention setting, ketamine journeys, and thoughtful integration in safe, healing-focused settings. Nushama provides sustained relief from depression, anxiety, chronic pain, addiction and trauma-induced mood disorders with high-dose intravenous (IV) ketamine for an ego-dissolving psychedelic experience and intramuscular (IM) ketamine protocols for groups. Medically led, Nushama is committed to learning from and integrating the latest psychedelic science with ancient teachings to help its members reset and reconnect.
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Anthony Tennyson, CEO, Awakn Life Sciences
America and Canada:
KCSA Strategic Communications
Rest of World:
Gordo Whittaker, CMO, Awakn Life Sciences