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Awakn Life Sciences Corp
Symbol AWKN
Shares Issued 26,918,557
Close 2022-08-12 C$ 0.53
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Awakn licenses AUD therapy treatment to Revitalist

2022-08-15 11:11 ET - News Release

Also News Release (C-CALM) Revitalist Lifestyle and Wellness Ltd

Mr. Anthony Tennyson of Awakn Life Sciences reports

AWAKN LIFE SCIENCES EXPANDS COMMERCIAL OPERATIONS INTO THE U.S. -- FIRST LICENSING PARTNERSHIP AGREEMENT WITH REVITALIST

Awakn Life Sciences Corp. has signed a licensing partnership agreement with Revitalist Lifestyle and Wellness Ltd. The agreement will enable Revitalist to treat clients with Awakn's proprietary ketamine-assisted therapy for the treatment of AUD (alcohol use disorder).

Awakn's proprietary treatment was developed and validated in a phase 2 a/b trial. The results of the trial were published in January, 2022, in the American Journal of Psychiatry. The trial delivered 86-per-cent abstinence over the six-months post treatment versus 2-per-cent pretrial. The current standard of care has an approximate 25-per-cent abstinence rate over the same time frame.

Under the terms of the licence agreement, Awakn will provide access to its proprietary therapeutics and training to Revitalist practitioners; in return, Revitalist will pay Awakn an annual fee and a revenue share per treatment.

The U.S. alcohol and substance addiction treatment industry is significant with 14,000-plus treatment facilities across the country generating more than $35-billion in revenue, even with its low efficacy rates. Awakn aims to improve performance of this industry by providing clinic operators with access to an efficient and effective treatment option under licence.

Anthony Tennyson, Awakn chief executive officer, commented: "Our partnership agreement with Revitalist adds an additional revenue stream for Awakn in our licensing partnerships' business and, importantly, brings us into a new and key territory -- the United States. This puts Awakn in the relatively unique position of being a biotech with commercialization activity across both multiple revenue streams and geographic territories. We look forward to on-boarding more partners in the coming months and to providing hope to addiction sufferers for whom current treatments are just not working."

Kathryn Walker, Revitalist chief executive officer, commented: "The current standard of care for AUD -- and most addiction disorders -- is insufficient, leaving many people, as well as their loved ones, suffering. Now, for the first time in the United States, these individuals are able to access this promising treatment to help them remain in remission of their addictive behaviours. We look forward to incorporating Awakn's ketamine-assisted therapy protocols into our offering across our clinical properties."

About Awakn Life Sciences Corp.

Awakn Life Sciences is a revenue-generating biotechnology company researching, developing and commercializing therapeutics to treat substance and behavioural addictions. Awakn has a near-term focus on alcohol use disorder, a condition affecting 400 million people globally for which the current standard of care is inadequate. The company's goal is to provide effective therapeutics to addiction sufferers in desperate need and the company's strategy is focused on commercializing its R&D (research and development) pipeline across multiple channels.

About Revitalist Lifestyle and Wellness Ltd.

Revitalist Lifestyle and Wellness is one of the largest publicly listed, ketamine-focused clinic operations operating in the United States. Each clinic enables access to psychedelic medicine, vitamin infusions and other lifestyle optimization services provided by medical and behavioural professionals. Since opening its first clinic in 2018, Revitalist has provided thousands of ketamine infusions through its network of nine clinics operating in six states. Its founder and chief executive officer, Ms. Walker, works as a lead provider in the psychedelic space as an advanced behavioural and medical provider.

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