Awakn Life Sciences Completes World’s First Study of Ketamine Treatment for a Range of Behavioral Addictions

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Toronto, Ontario–(Newsfile Corp. – May 19, 2022) – Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (“Awakn”), a biotechnology company that researches, develops, and commercializes therapies to treat addiction with a near-term focus on addiction-related disorders. Alcohol Consumption (AUD), today announced the completion of the world’s first ketamine treatment study for behavioral addictions. Behavioral addictions included in the study were gaming disorder, internet gaming disorder, binge eating disorder, and compulsive sexual behavior.

The study was led by Professor Celia Morgan, Head of Ketamine Assisted Therapy at Awakn, Professor of Psychopharmacology at the University of Exeter, UK, and an internationally renowned expert in the therapeutic use of ketamine. The study looked at ketamine as a new approach to treating these behavioral addictions by opening a window where the brain can make new connections to modify behavior.

The results of the study point to desired effects via potentially novel mechanisms and these findings merit broader study and deeper exploration, which Awakn is now initiating. The study also supports Awakn’s intellectual property (IP) strategy and existing filed patent applications, positioning Awakn as a leading company in the behavioral addiction therapeutics research and development industry. The company plans to educate investors more about its intellectual property strategy in the coming weeks.

Professor Celia Morgan, Head of Ketamine-Assisted Therapy at Awakn, commented: “These promising early findings may suggest a new treatment solution for behavioral addictions, which are growing rapidly across the world and which, to date, constitute a totally unmet treatment need and are excited to begin these important new studies which promise to bring significant innovation to the field.”

Awakn CEO Anthony Tennyson commented, “This study is extremely encouraging and has given us all the data we could have hoped for. Critically, it has also shown us that a larger study is deserved, and “we will now pursue this. For such a huge cohort that more than a billion people are suffering without any pharmacological treatment available to them, is unacceptable and we will strive to provide therapies to patients who desperately need them.”

Gaming disorder, internet gaming disorder and binge eating disorder, all recognized in the DSM-5, affect up to 450 million people[1]235 million[2] and 100 million[3] people respectively, while compulsive sexual behavior, which is included in ICD-11, affects up to 350 million[4] people. The current standard of care for these conditions is poor.

About Awakn Life Sciences Corp.

Awakn Life Sciences is a biotechnology company that researches, develops and commercializes combination therapies to treat addiction, with a focus on alcohol use disorders. The Awakn team is made up of renowned research experts, world-renowned chemists, scientists, psychiatrists and psychologists. Addiction is one of the greatest unmet medical needs of our time, affecting over 20% of the world’s population and is an industry valued at over $100 billion a year. Awakn is working to disrupt this underperforming industry by advancing the next generation of drugs and therapies for use in combination, through preclinical research and clinical trials.

www.awaknlifesciences.com | Twitter | LinkedIn | Facebook

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This press 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 future performance of the Company. 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 planned”, “budget”, “expected”, “estimates”, “continues “, “forecasts”, “plans”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations or negatives of these words and expressions or declare that certain actions , events or results “may”, “could”, “should”, “should”, “could” or “will” be taken, occur or be carried out, including statements relating to the activities of the Company. forward-looking statements, including those contained herein, are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in these statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those indicated in the statements. Certain factors could cause actual results to differ materially from those indicated in the forward-looking information. These include, but are not limited to: COVID-19; fluctuations in general macroeconomic conditions; the Company’s business plans and strategies; the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; the risks inherent in investing in target companies or projects that have limited or no operating history and that are engaged in activities currently considered illegal in certain jurisdictions; changes in laws; limited operating history; dependence on management; additional funding requirements; competition; fluctuations in the securities markets; inconsistent public opinion and perception regarding the medical use of psychedelic drugs; expectations regarding the size of the drug addiction market; and regulatory or policy change. Readers are cautioned that the foregoing list of factors is not exhaustive of factors that could affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release speak only as of the date of this press release or as of the date or dates specified in such statements.

Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking information. For further information on the Company, investors are invited to consult the public documents filed by the Company on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities of the Company and Awakn have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“) or any state securities law and may not be offered or sold in the United States or to United States persons unless registered under United States securities law and applicable state securities laws securities or an exemption from such registration.

Investor requests:
Anthony Tennyson, CEO, Awakn Life Sciences
[email protected]

Media inquiries:
America and Canada: KCSA Strategic Communications
Anne Donohe
[email protected]

Rest of the world: ROAD Communications
Paul Jarman/Nora Popova
[email protected]


[1] Problem gambling around the world: an update and systematic review of empirical research (2000-2015). https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5370365

[2] The prevalence and correlates of binge eating in the World Health Organization’s Global Mental Health Surveys
https://pubmed.ncbi.nlm.nih.gov/23290497/

[3] Worldwide prevalence of gambling disorders: a systematic review and meta-analysis. https://pubmed.ncbi.nlm.nih.gov/33028074/

[4] Epidemiology, prevalence, and natural history of compulsive sexual behavior.
https://www.sciencedirect.com/science/article/abs/pii/S0193953X08000725

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124630

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