Psych Capital PLC - Awakn Expands Commercial Operations Into The U.S
RNS Number : 0717W
Psych Capital PLC
16 August 2022
 

Non-Regulatory

 

Psych Capital Plc

("Psych Capital" or the "Company")

 

Awakn Life Sciences Expands Commercial Operations Into The U.S. - First Licensing Partnership Agreement With Revitalist 

 

Highlights

·    Awakn enters the U.S. addiction treatment and relapse prevention market

·    Agreement with one of the largest publicly listed US based ketamine wellness-clinic chains

·    Additional revenue stream for Awakn

 

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 a licensing partnership agreement with Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) ("Revitalist"), one of the largest publicly listed U.S. based ketamine wellness-clinic chains. The agreement will enable Revitalist to treat clients with Awakn's proprietary ketamine-assisted therapy for the treatment of AUD.
 
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% abstinence over the six-months post treatment versus 2% pre-trial. The current standard of care has an approximate 25% abstinence rate over the same timeframe.

 
Under the terms of the license agreement, Awakn will provide access to its proprietary therapeutics and training to Revitalist practitioners, and in return, Revitalist will pay Awakn an annual fee and a revenue share per treatment.

 
The U.S. alcohol and substance addiction treatment industry is significant with 14,000+ treatment facilities across the country generating more than $35bn in revenue, even with its low efficacy rates. Awakn aims to improve performance of this industry by providing clinic operators with access to an efficient and effective treatment option under license.

 
Anthony Tennyson, Awakn CEO commented, "Our partnership agreement with Revitalist adds an additional revenue stream for Awakn in our licensing partnerships' business, and importantly brings us into a new, and key territory - the United States. This puts Awakn in the relatively unique position of being a biotech with commercialization activity across both multiple revenue streams and geographic territories. We look forward to on-boarding more partners in the coming months, and to providing hope to addiction sufferers for whom current treatments are just not working."

 

William Potts, Chief Investment Officer and Co-Founder of Psych Capital, commented: "We are delighted that Awakn has secured this agreement. Not only does it represent a new territory for Awakn but the endorsement from Revitalist highlights the strength of  Awakn's proposition."

 

The Company owns 426,000 common shares in Awakn, and at the current price, values the Company's stake in Awakn at approximately £240,000.

 

The full text of the announcement from Awakn can be found here: Awakn Expands Commercial Operations Into The U.S. (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

 


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.

 

About Revitalist Lifestyle and Wellness Ltd.

Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) is one of the largest publicly listed, ketamine focused clinic operations operating in the United States. Each clinic enables access to psychedelic medicine, vitamin infusions and other lifestyle optimization services provided by medical and behavioral professionals.  Since opening their first clinic in 2018, Revitalist has provided thousands of ketamine infusions through its network of 9 clinics operating in 6 states.  Its founder and CEO, Kathryn Walker, works as a lead provider in the psychedelic space as an advanced behavioral and medical provider. For additional information please visit Revitalist.com.

 

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