Awakn Life Sciences has signed its first licensing partnership agreement in Canada with Ontario-based Wellbeings Pain Management and Dependency Clinic, which is focused on multi-disciplinary, evidence-based, best-practice, patient-centred care.
The agreement will enable Wellbeings to treat their patients with Awakn’s proprietary ketamine-assisted therapy for the treatment of Alcohol Use Disorder (AUD) as a co-morbidity for pain.
This is the second Licensing Partnership agreement that Awakn has signed in North America and follows on from the announcement earlier this week of an agreement with Revitalist Lifestyle and Wellness – one of the largest publicly listed US-based ketamine wellness-clinic chains. The agreements mean that Awakn is generating revenue from its proprietary treatments across multiple territories, including the United Kingdom, United States, Norway, and Canada.
Awakn CEO, Anthony Tennyson, commented: “We are delighted to sign another Licensing Partnership agreement in quick succession.
“Expanding our revenue generation into Canada is another significant milestone for Awakn. Wellbeings share our vision and goal of making new more effective treatment options available to so many people who are suffering and will make another excellent partner as we start to disrupt the incumbent addiction treatment industry in North America.”
Wellbeings CEO and president, Peggi Shepherd DeGroote, commented: “As a result of the COVID-19 pandemic, the incidence of Alcohol Use Disorder has increased significantly and is now affecting about 8 million people in Canada alone.
“People from all walks of life are suffering from this addiction. The opportunity to offer medical care that is so desperately needed for people to live their “best possible life” is exciting.
“Addiction care offerings have long produced less than adequate results for patients. Awakn’s proprietary ketamine-assisted therapy will be a much-needed addition to Wellbeings present offerings to produce outstanding outcomes.
“People need effective and long-lasting treatments and hope that something better is available so that they can overcome their addictions with medical help available.
“Awakn has a proven effective treatment that will revolutionise and democratise AUD care and outcomes. Wellbeings is thankful and excited to be the first Canadian partner to offer this care.”
Under the agreement with Wellbeings, Awakn will provide access to its proprietary therapeutics for AUD and training to Wellbeings practitioners, and in return, Wellbeings will pay Awakn an annual subscription and a revenue share per treatment.
Awakn’s proprietary treatment was developed and validated in a Phase II 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.
The most recent comprehensive cost study estimated the total cost of alcohol-related harm to Canadians to be $14.6bn. It was also estimated by the Canadian government that over 19 per cent of the population were classified as heavy drinkers before the pandemic started.
Awakn aims to help people who are suffering with alcohol addiction by providing clinic operators with access to an efficient and effective treatment option under license.
[activecampaign form=52]
