Psych Capital PLC - Awakn Reports Results for 1Q22
RNS Number : 0500P
Psych Capital PLC
16 June 2022
 

Psych Capital Plc

("Psych Capital" or the "Company")

 

Awakn Reports Results for Quarter Ended April 30, 2022

 

Psych Capital Plc, the psychedelic healthcare incubation and investment company, that operates the leading industry  data, insights, and networking platform PSYCH, announces that its portfolio company Awakn Life Sciences ("Awakn") has announced results and business highlights for the three months ended April 30, 2022.

 

1Q22 & Recent Business Highlights for Awakn:

·      Initiated follow-on behavioral study investigating Ketamine as a treatment for Gambling Disorder 

·      Filed Patent Cooperation Treaty (PCT) application for the treatment of behavioral addictions with Ketamine and Ketamine-assisted psychotherapy 

·      Completed the world's first Ketamine study for a range of behavioral addictions 

·      Announced successful completion of hit to lead drug discovery program for new chemical entity (NCE) 

·      Received regulatory approval for flagship clinic in London to begin delivering treatments 

·      Filed patents for a new class of entactogen-like molecules

 

Anthony Tennyson, Chief Executive Officer of Awakn Life Sciences, stated: "The results demonstrate the significant momentum building in our business across both our research and development pipeline and in our therapeutics commercialization business.  The addiction treatment market opportunity is, unfortunately, large and growing, and Awakn is uniquely positioned to offer proven therapeutics supported by data to sufferers for whom the current standard of care is inadequate and relapse rates are unacceptably high."

William Potts, Chief Investment Officer and Co-Founder of Psych Capital, commented: "We are delighted with the progress Awakn has made while maintaining a strong growth trajectory. We look forward to further positive developments shortly as it continues to deliver on its mission to revolutionise treatments for addiction."

The Company owns 426,000 common shares in Awakn, and at the current price, values the Company's stake in Awakn at approximately £213,000.

The full text of the announcement from Awakn can be found here: Awakn Reports Results for Quarter Ended April 30, 2022 (awaknlifesciences.com)

The Directors of the Company accept responsibility for the contents of this announcement.

 

 

For further information, please contact:

 

Psych Capital Plc


Stephen Murphy, Executive Director


William Potts, Chief Investment Officer

 

info@PSYCH.capital or via Walbrook PR Ltd psych@walbrookpr.com

 


AQSE Growth Market Corporate Adviser


Peterhouse Capital Limited

Tel: +44 (0) 207 469 0930

Guy Miller / Mark Anwyl


 


Walbrook PR Ltd (Media & Investor Relations)

Tel: +44 (0)20 7933 8780 or psych@walbrookpr.com

Nick Rome / Tom Cooper

Mob: +44 (0) 7748 325 236 / +44 (0) 7971 221 972

 

 

About Psych Capital Plc

Psych Capital Plc identifies, funds and aims to support the building of British and European companies across three core pillars: therapeutic treatments, drug development, and data/AI. Its mission is to support a new wave of innovators who are well positioned to challenge the status-quo and revolutionise how society deals with mental health conditions.

 

Through a network of analysts with deep industry knowledge and capital markets expertise, Psych Capital is focussed on developing a rigorously selected portfolio of industry leading companies at the intersection of psychedelic medicine and technology.

 

The Psych Platform is a business-to-business media and content platform for the psychedelic science and healthcare industry, and it operates the website, https://psych.global/. The Psych Platform is a global B2B resource for networking, intelligence and insights, servicing the industry through publications, newsletters and engaging events. The Psych Platform has amassed a significant global B2B audience, with over 20,000 subscribers to the platform.

 

As a business-to-business media and content platform, the Psych Platform also produces the PSYCH Symposium, a premium Live Event series.

 

About Awakn

Awakn's Research & Development arm is engaged in pre-clinical and clinical research to develop therapeutics to treat addiction. It has drug discovery and clinical research programmes active across substance and behavioural additions.


Its delivery arm 
delivers these proven therapeutics through its specialised clinics in the UK and Europe. The clinics will generate real world data and evidence that supports our R&D activities. It will establish licensing partnerships to deliver these therapeutics globally, starting with the US and Canada in 2022.

Revenue generated from the clinics and licensing partnerships will fund its ongoing research. Awakn is unique in the biotechnology industry in that it has both a deep commercialisable IP portfolio, and near-term scalable revenue streams.

 

 

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