Awakn Life Sciences Corp (OTCQB:AWKNF / NEO:AWKN) Pioneering Psychedelic Therapies to Treat AUD

Market For Psychedelic therapies for addiction and Alcohol Use Disorder

In the last decade psychedelic agents have transitioned from taboo whispers to being accepted as an innovative remedy among some of the worst disorders across the globe. These include alcohol use disorder, substance abuse, and depression among many more.

The journey of acceptance isn’t complete, but it is off to a strong start. In May 2021, the first Phase-3 clinical trial was conducted utilizing MDMA in combination with psychological counseling sessions. The trial results concluded “treatment efficacy in individuals with severe PTSD, and patient safety”.

According to JAMA Psychiatry, “The market for psychedelic substances is projected to grow from $2 billion in 2020 to $10.75 billion by 2027, a growth rate that may even outpace the legal US cannabis market.”

Research and Development

• Awakn has acquired the exclusive rights to the worlds only Phase IIa clinical trial for MDMA-assisted therapy to treat AUD led by world renowned addiction experts, Prof. David Nutt, Dr. Ben Sessa, Dr. Laurie Higbed

• NCE development program with Evotec (NASDAQ: EVO)

• A completed Phase IIa/b trial for Ketamine-Assisted Therapy to treat AUD.

• In January, Awakn announced positive results from their Phase II A/B Clinical Trials, indicating that “Primary and secondary endpoints achieved, including 86% abstinence over 6 months post treatment and no serious adverse events” and impressively showing the potential in a decrease in mortality rate “Within the KARE group there was also a significant decrease in the risk of mortality, 1 in 8 patients would have died within 12 months without treatment, that number decreased to 1 in 80 following the treatment.”

• The secondary outcomes of the study identified further encouraging results including improved liver function across several different markers, a statistically significant decrease in depression after 3 months and an increase in the ability to experience pleasure

Clinical Pipeline

Oversight

Awakn is led by passionate CEO and industry expert, Anthony Tennyson, who has extensive experience in financial services, including, international strategy, commercial leadership roles with Aon plc, and 5 years with Merrill Lynch and Bank of Ireland.

Stacked scientific and research professionals spanning technology, healthcare and psychedelic areas of research.

Recent addition of special advisor Dennis Purcell who has a track record in investment banking focused on pharmaceuticals, biotechnology, and medical products. As well as an extensive resume of director roles in successful biotechnology and pharmaceutical companies. 

Clinical Expansion

• Awakn Clinics Bristol received Care Quality Commission’s (CQC) formal approval to begin treatments.
• Target to open 15-20 clinics by the end of 2024.
• Up to CA$5m projected annual revenue per clinic or ∼$3.8m USD.
• Potential licensing opportunities to expand operations in the United States and Canada.

   

Where does Awakn stand among competitors?

Analyst report from investment banking firm Stifel GMP set a price target of $8.00