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On this new Psychedelics Exclusive podcast, TDR Founder Shadd Dales interviews Awakn Life Sciences Corp. (OTC:AWKNF) CEO Anthony Tennyson, as his company moves closer towards a Phase III clinical trial exploring the use of ketamine-assisted therapy to treat severe Alcohol Use Disorder (AUD). Mr. Tennyson also provides color on the recent divestiture of clinic assets in the United Kingdom, as Awakn right-sizes its operations to focus more on therapeutic research and intellectual property.
On the subject of clinical trials, Awakn Life Sciences entered into a collaboration agreement with the University of Exeter (UoE) in April to facilitate the aforementioned Phase III trial for AUD. The trial will involve 280 participants and follow a randomized, placebo-controlled approach. Taking place across ten U.K. National Health Service (NHS) sites, it will be the largest of its kind to explore the use of ketamine-assisted psychological therapy.
As one of the few ‘psychedelic’ Phase III trials in the space, the study has advanced this far on the back of stellar results disclosed in January 2022. That Phase II a/b trial readout produced outstanding results with participants experiencing an average 86% abstinence at the six-month mark post-treatment, a significant improvement from the mere 2% observed before the trial. No safety concerns were observed.
What’s more, the trial is the only one of its kind to receive government funding. Awakn is only contributing a modest amount of capital while the bulk of funding will be provided by prominent entities such as the National Institute for Health and Care Research (NIHR), the Medical Research Council (MRC), and University of Exeter.
Anthony Tennyson also addressed Awakn’s recent divestiture of clinic assets in the United Kingdom. The move will allow the company to keep a laser focus on the development of therapeutics assets and intellectual property, as well as reduce cash burn from the money-losing clinic.
Awakn remains committed to its ongoing strategic review of the Norwegian clinic’s business, and is engaged in discussions regarding its potential sale.
Posted In: AWKNF
