Awakn Life Sciences Provides Business and Corporate Update
Study launched following recent successful pilot study and patent filing
Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (“Awakn”), a biotechnology company that researches, develops and commercializes therapeutic products to treat addiction with a short-term focus on addiction-related disorders to Alcohol Use (AUD), today announced that they have initiated a larger behavioral addiction study of ketamine as a treatment for gambling disorder. Awakn announced on May 19, 2022 that the company had completed successful pilot study on a range of behavioral addictions. On May 26, 2022, Awakn announced the filing of a Patent Cooperation Treaty (PCT) for the treatment of behavioral addictions with ketamine and ketamine-assisted psychotherapy.
The larger study announced today will include 42 patients with gaming disorder and will see participants undergo a memory reactivation procedure, designed to weaken the link between reward and addiction memories. The largest placebo-controlled study will be the first worldwide investigation to explore this technique for treating gambling disorder.
The study will use advanced EEG (electroencephalography) brain imaging technology and index synaptic plasticity after ketamine administration with the aim of identifying the window of greatest neuroplastic change. This would potentially allow Awakn to predict when therapy will be most effective due to neuroplasticity. The study will also collect detailed pharmacokinetic (PK) data and analyze metabolites as well as review neurological biomarkers.
Awakn CEO Anthony Tennyson commented, “Awakn is dedicated to helping those suffering from addiction, and we are very excited about the significant research and development milestones we have achieved in recent weeks. None of this would be possible without Awakn’s dedication. team and I would like to formally thank them and everyone involved, including patients, doctors and caregivers.”
Gaming disorder affects up to 450 million people people globally. In the United States alone, it is estimated that more than 2.5% of the population suffers from gambling disorders, or more than 8 million people.2. In the absence of pharmacological treatments currently available, the need to find an effective treatment has never been more acute.
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.
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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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Anthony Tennyson, CEO, Awakn Life Sciences
America and Canada: KCSA Strategic Communications
Rest of the world: ROAD Communications
Paul Jarman/Nora Popova
1: Problem gambling around the world: an update and systematic review of empirical research (2000-2015):
2: Help from the North American Foundation for Gambling Addiction: