Awakn Life Sciences has completed the sale of Awakn London Limited Ltd., Awakn’s subsidiary that owns and operates its healthcare clinic in London, United Kingdom.
Trading as Awakn Clinics London, the subsidiary has been purchased by a joint venture entity, Awakn Via Amitis.
Awakn Via Amitis is jointly owned by Via (formerly WDP), a leading UK healthcare charity providing addiction and mental health services in the UK, and Amitis Group, a private UK investment company.
Alongside the sale, Awakn has also announced an agreement with Awakn Via Amitis for the exclusive license of selected elements of Awakn’s healthcare services intellectual property within the UK, and a non-exclusive license for Awakn Kare, within the UK, in consideration for a share of Awakn London’s revenue being payable to Awakn.
The clinic will continue to operate as Awakn Clinics London with Via taking over clinical operations and leading the delivery of all treatments and therapies at the clinic.
Awakn CEO Anthony Tennyson stated: “We are very pleased to have completed this transaction, which is an important milestone for Awakn and one which will allow us to focus our resources on our R&D programs.
“Critically, it also will allow continuity of care for our clients and workforce in London.
“We also believe that the consortium is excellently positioned with their experience and close working partnership with the NHS to grow and scale the clinics business, hopefully allowing access to a whole new cohort of patients in desperate need of a new and more effective treatment option.
“We look forward to working with them as partners and sharing in their future success.”
Awakn has stated that Via is a charity which is supporting people to transform their lives for the better, helping them to manage their health and well being independently. It has a drug and alcohol treatment presence in over 14 London boroughs, and several other parts of the UK.
Via also provides inpatient detox and rehab services and is setting up the UK’s first women-only detox provision, with Via and the NHS working in close partnership together supporting people who are dependent on drugs and alcohol.
In addition to this milestone, Awakn has stated that it remains committed to its ongoing strategic review of the Norwegian clinic’s business and is engaged in discussions regarding its potential sale, and that June is expected to be another record month in revenue for the Norwegian business, continuing its upward trajectory in recent months.
Dr Arun Dhandayudham, Executive Medical Director at Via and Chief Medical Officer at Awakn said: “Having worked at Awakn for a period of time, I’ve seen the strength of their protocols and methodologies, especially their proprietary Awakn Kare for alcohol relapse prevention.
“I am very happy to continue my work with the Awakn London Clinics London through my role at Via.”
