Awakn Life Sciences Files Patent Cooperation Treaty (PCT) Application for Treatment of Behavioral Addictions

Toronto, Ontario–(Newsfile Corp. – May 26, 2022) – Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (“Awakn”), a biotechnology company that researches, develops, and commercializes therapeutic products to treat addiction, today announced the filing of a patent cooperation treaty (PCT) application for the treatment of behavioral addictions with ketamine and ketamine-assisted psychotherapy. The success of Awakn’s behavioral addictions study was announced last week, and data from the study was used in the patent filing. The pilot study examined ketamine as a potential new treatment approach for gambling disorder, internet gaming disorder, compulsive sexual behavior disorder, and binge eating disorder.

The PCT covers all behavioral addictions or any recognized disorder or condition with compulsive symptoms similar to those in the study. If granted, the patent claims would give Awakn exclusive rights to use ketamine and ketamine-assisted therapy for the treatment of behavioral addictions. With no effective pharmacological treatments currently available globally for behavioral addictions, the study results and patent filing position Awakn at the forefront of the industry at a time when rates of Behavioral addictions are increasing at an alarming rate and where sufferers have few treatment options that offer poor results.

Promising results from the pilot study showed a reduction in symptoms for some participants, with some participants no longer meeting diagnostic criteria. Some people also showed a reduction in symptoms of a comorbid psychiatric disorder, such as depression or anxiety. The treatment was also well tolerated with no safety issues.

Awakn CEO Anthony Tennyson commented, “Today’s news demonstrates our focus on researching, developing and commercializing therapies to treat addiction. A critical part of our efforts is to continually strengthen our intellectual property portfolio as we strive to bring effective therapies to people with chronic addictions in desperate need. Leading the way to finding an effective treatment for such a vast unmet medical need is essential and it is an effort that we are very proud to be part of.”

Gaming disorder, internet gaming disorder, and binge eating disorder are all recognized in the DSM-5, which is a diagnostic tool that serves as the primary authority for psychiatric diagnoses in the United States and affects up to 450 million people.1235 million2 and 100 million3 people respectively. While compulsive sexual behavior disorder, which is included in ICD-11, affects up to 350 million4 people. The ICD-11 was developed by the World Health Organization (WHO) and is the global standard for recording health information and causes of death. The current standard of care for all of 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. Drug 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. | Twitter | LinkedIn | Facebook

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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.

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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).

2 The prevalence and correlates of binge eating in the World Health Organization’s Global Mental Health Surveys

3 Worldwide prevalence of gambling disorders: a systematic review and meta-analysis.

4 Epidemiology, prevalence, and natural history of compulsive sexual behavior.

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