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DEFINING CLEAR DEVELOPMENT PATHWAY FOR NEXT GENERATION OF PSYCHEDELIC MEDICINES TO TREAT ADDICTION

Toronto, Ontario–(Newsfile Corp. – April 27, 2021) – Awakn Life Sciences Inc. (Awakn), a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicines to treat Addiction, announced today the initiation of a new chemical entity (NCE) development program to strengthen Awakn’s pipeline for the treatment of a broad range of addictions. The Company has also announced the appointment of Evotec as NCE research partner and the selection of Prof. David Nutt, one of the world’s leading experts on addiction, as program lead.

This announcement follows Awakn’s March 2021 acquisition of a significant body of proprietary research from Equasy Enterprises, including details of newly discovered actions of MDMA (Equasy Acquisition).

Awakn will build on its position and experience as a clinical phase biotechnology company to develop a range of innovative and targeted new candidates to treat several poorly addressed addictions. Awakn will focus on addictions where the consequences for the patient, their family and society are at present severe.

The selection of Evotec as NCE research partner, combined with the appointment of Prof. David Nutt, and the Equasy Acquisition will significantly expedite the identification and characterization stages of Awakn’s program to develop the next generation of psychedelic medicines to treat Addiction and will position Awakn at the forefront of the emerging psychedelic biotechnology industry.

Professor David Nutt commented, “The molecules we are targeting will bring together the best therapeutic characteristics of MDMA, will have more rapid onset of activity, and a short half-life, in a research space where we expect to secure patent protection and have freedom to operate.”

“Our ambition is to fully integrate effective psychedelic-based treatment into mainstream healthcare to better treat Addiction,” said Anthony Tennyson, Awakn’s CEO. “Some of world’s leading research data now lies with us, we have a clinical team with unparalleled experience in treating addiction, and now the appointment of a leading global research partner will significantly speed up this process.”

Media enquiries:

ROAD Communications – Paul Jarman ([email protected]) / Anna Ramsey ([email protected])

Investor enquiries:

KCSA Strategic Communications – Valter Pinto ([email protected]) / Tim Regan ([email protected])

About Awakn Life Sciences Inc.

Awakn Life Sciences is a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicine to treat Addiction. Awakn is integrating psychedelic medicine into mainstream healthcare through Research, Digital, Clinics, and Ecosystems.

www.awaknlifesciences.com | Twitter | LinkedIn

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81745

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