TIDMPSY
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
GBP240,000.
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 info@PSYCH.capital or via Walbrook
Officer PR Ltd psych@walbrookpr.com
Walbrook PR Ltd (Media & Tel: +44 (0)20 7933 8780 or psych@walbrookpr.com
Investor Relations)
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 deliver s 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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