Awakn Life Sciences is expanding its commercial operations into the US through its first licensing partnership with Revitalist Lifestyle and Wellness – one of the largest publicly listed US-based ketamine wellness-clinic chains.
Awakn Life Sciences’ partnership will enable Revitalist to provide clients with Awakn’s proprietary ketamine-assisted therapy to treat AUD.
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 pre-trial.
The current standard of care has an approximate 25 per cent abstinence rate over the same timeframe.
Anthony Tennyson, Awakn CEO 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 commercialisation activity across both multiple revenue streams and geographic territories. We look forward to onboarding more partners in the coming months, and to providing hope to addiction sufferers for whom current treatments are just not working.”
Kathryn Walker, Revitalist CEO, added: “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.”
Under the terms of the license agreement, Awakn will provide access to its proprietary therapeutics and training to Revitalist practitioners, and in return, Revitalist will pay Awakn an annual fee and a revenue share per treatment.
The US alcohol and substance addiction treatment industry is significant with more than 14,000 treatment facilities across the country generating more than $35bn 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.
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