PROF. NUTT WILL DRIVE PROGRESSION OF A PIPELINE OF NEW PSYCHEDELIC MEDICINES, HELPING TO DEFINE A CLEAR DEVELOPMENT PATHWAY TO TREAT ADDICTION THROUGH PSYCHEDELIC MEDICINES

TORONTO, CANADA, 24 June 2021 – Awakn Life Sciences Corp. (NEO: AWKN) (Awakn), a biotechnology company with clinical operations developing and delivering psychedelic medicine to treat Addiction, announced today that globally renowned neuroscientist and addiction researcher, Prof. David Nutt, has joined its executive team as Chief Research Officer.

This appointment is driven by the expansion of Awakn’s psychedelic drug and therapy development pipeline targeting Addiction. In particular the identification, and development of several potential new candidates with unique properties to better treat a broad range of addictions, acquired from Prof. David Nutt’s Equasy Enterprises in March 2021; the licencing of the intellectual property from world’s only Ketamine-Assisted Psychotherapy trial for Alcohol Use Disorder (AUD) from the University of Exeter in March 2021. And finally, the world’s only Phase IIb trial for MDMA-Assisted Psychotherapy for AUD.

In this new role, which is in addition to Prof. Nutt’s existing role as Chair of Awakn’s Scientific Advisory Board, Prof. Nutt will lead Awakn’s neuroscience research of psychedelic compounds for treating a broad range of addictions where the consequences for the patient, their family, and society are at present most severe. Prof. Nutt will work closely with Dr. Shaun McNulty, Awakn’s Chief Scientific Officer, who leads Awakn’s Pre-Clinical stage and Clinical stage research and development programs.

Professor David Nutt commented, “I am delighted to take on the role of Chief Research Officer in this exciting new biotechnology company that promises to revolutionise the treatment of addictions. Awakn’s combination of pre-clinical and clinical research uniquely positions Awakn to solve some of the biggest societal problems.”

Anthony Tennyson, Awakn’s CEO commented, “Our ambition is to fully integrate effective psychedelic-based treatments into mainstream healthcare to better treat Addiction. Prof. Nutt is one of the world’s leading experts in this field and is now part of our executive team to help us drive forward our preclinical discovery projects. With Prof. Nutt and our already strong R&D team we are positioned as a leader in the psychedelic-biotechnology industry.”

About Professor David Nutt

Prof. David Nutt is currently the Edmond J. Safra Professor of Neuropsychopharmacology and Director of the Neuropsychopharmacology Unit in the Division of Brain Sciences.

After 11+ entry to Bristol Grammar School David was awarded an Open Scholarship to Downing College Cambridge and then completed his medical training at Guy's Hospital London, continuing in neurology to MRCP. After completing his psychiatric training in Oxford, he continued there as a lecturer and then later as a Wellcome Senior Fellow in psychiatry. He then spent two years as Chief of the Section of Clinical Science in the National Institute of Alcohol Abuse and Alcoholism in NIH, Bethesda, USA. On returning to England in 1988 he set up the Psychopharmacology Unit in Bristol University, an interdisciplinary research grouping spanning the departments of Psychiatry and Pharmacology before moving to Imperial College London in December 2008 where he leads a similar group with a particular focus on brain imaging especially PET.

David is currently Chair of DrugScience (formally the Independent Scientific Committee on Drugs (ISCD)). He was previously President of the European Brain Council, the European College of Neuropsychopharmacology (ECNP), the British Neuroscience Association (BNA) and the British Association of Psychopharmacology (BAP). He is a Fellow of the Royal Colleges of Physicians and of Psychiatrists and of the Academy of Medical Sciences. He is also the UK Director of the European Certificate and Masters in Affective Disorders Courses and a member of the International Centre for Science in Drug Policy. He has edited the Journal of Psychopharmacology for over two decades and acts as the psychiatry drugs advisor to the British National Formulary. He has published over 500 original research papers, a similar number of reviews and books chapters, eight government reports on drugs and 33 books.

Previously he has been a member and then Chair of the Advisory Committee on the Misuse of Drugs (ACMD - 1998-2009), a member of the HEFCE/NHS Senior Lecturer Selection Panel and of the MRC Neuroscience Board. Other previous national contributions include serving as the medical expert on the Independent Inquiry into the Misuse of Drugs Act (2000 Runciman report), and membership of the Committee on Safety of Medicines, the Committee on NHS drugs and the Ministry of Defence Science Advisory Board. He was the clinical scientific lead on the 2004/5 UK Government Foresight initiative "Brain science, addiction and drugs" that provided a 25-year vision for this area of science and public policy.

David broadcasts widely to the general public both on radio and television including BBC science and public affairs programmes on therapeutic as well as illicit drugs, their harms and their classification. He also lectures widely to the public as well as to the scientific and medical communities; for instance has presented three times at the Cheltenham Science Festival and several times for Café Scientifiques. In 2010 The Times Eureka science magazine included him in the 100 most important figures in British Science, and the only psychiatrist.

About Awakn Life Sciences Corp.

Awakn Life Sciences is a biotechnology company with clinical operations; researching, developing, and delivering psychedelic medicine to better treat Addiction. Awakn’s team consists of world leading chemists, scientists, psychiatrists, and psychologists who are developing and advancing the next generation of psychedelic drugs, therapies, and enabling technologies to treat Addiction. Awakn will also deliver evidence backed psychedelic therapies for Addiction in clinics in the UK and Europe and through licencing partnerships globally. 

www.awaknlifesciences.com  |  Twitter  |  LinkedIn  |  Facebook

Forward Looking Statements

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating to the proposed NEO listing, and the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include: whether conditions to the listing on NEO will be satisfied; the business plans and strategies of the Company, the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company’s and Awakn’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Investor Enquiries:

KCSA Strategic Communications 
Valter Pinto / Tim Regan 
Phone: +1 (212) 896-1254
Awakn@KCSA.com

Media Enquiries:

America and Canada: KCSA Strategic Communications  
Anne Donohoe 
adonohoe@kcsa.com

Rest of World: ROAD Communications 
Paul Jarman / Anna Ramsey
Awakn@roadcommunications.co.uk 

TORONTO, Ontario, June 23, 2021 – Awakn Life Sciences Corp. (“Awakn” or the “Company”) a biotechnology company with clinical operations developing, and delivering psychedelic medicines to treat Addiction, is pleased to announce it will begin trading today, June 23, 2021, on the NEO Exchange Inc. (the "NEO") under the symbol "AWKN”. 

"Listing on the NEO is an important milestone for Awakn to continue to build on our dual strategic focus of developing psychedelic drugs, therapies, and enabling technologies to treat Addiction, and delivering psychedelic treatments for Addiction in our clinics,” said Awakn CEO, Anthony Tennyson. "The NEO listing will enable us to accelerate the execution of our drug discovery, therapy development, advanced analytics, and open clinic roll out programs.” 

The listing follows the successful completion of the previously announced reverse takeover of a Canadian public company, 2835517 Ontario Ltd., by Toronto-based Awakn Life Sciences Inc. The public company was subsequently renamed Awakn Life Sciences Corp. in connection with the reverse takeover and the listing on the NEO.  Additionally, the Company raised gross proceeds of approximately USD$8.3 million through a brokered private placement.

Awakn engaged Canaccord Genuity Corp. and Eight Capital as co-lead agent and joint bookrunners to complete the brokered financing. In connection with the transaction, 2835517 Ontario Ltd. was de-listed from the NEX board of the TSX Venture Exchange.

A filing statement with information about Awakn prepared in accordance with the policies of the NEO is available on SEDAR at www.sedar.com.

About Awakn Life Sciences

Awakn Life Sciences is a biotechnology company with clinical operations, researching, developing, and delivering psychedelic medicine to better treat Addiction. Awakn’s team consists of world leading chemists, scientists, psychiatrists, and psychologists who are developing and advancing the next generation of psychedelic drugs, therapies, and enabling technologies to treat Addiction. Awakn will also deliver evidence backed psychedelic therapies for Addiction in clinics in the UK and Europe and through licencing partnerships globally. 

www.awaknlifesciences.com  |  Twitter  |  LinkedIn  |  Facebook

Forward Looking Statements

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating to the proposed NEO listing, and the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include: whether conditions to the listing on NEO will be satisfied; the business plans and strategies of the Company, the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company’s and Awakn’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Investor Enquiries:

KCSA Strategic Communications 
Valter Pinto / Tim Regan 
Phone: +1 (212) 896-1254
Awakn@KCSA.com

Media Enquiries:

America and Canada: KCSA Strategic Communications  
Anne Donohoe 
Adonohoe@KCSA.com

Rest of World: ROAD Communications
Paul Jarman / Anna Ramsey
Awakn@roadcommunications.co.uk

Vancouver, B.C., June 17, 2021 – Further to its press release date May 17, 2021, Awakn Life Sciences Corp. (formerly 1169082 B.C. Ltd.) (the “Company”) is pleased to announce that it has completed its reverse takeover transaction (the “Transaction”) of Awakn Life Sciences Inc. (“Awakn”), and that the net proceeds from its previously announced brokered private placement of 3,320,220 subscription receipts for aggregate gross proceeds of $8,300,550 (the “Offering”)have been released from escrow to Awakn. The Company has also received final approval to list its common shares on the Neo Exchange Inc. (“NEO”), and trading is expected to commence on June 23, 2021 under the stock symbol “AWKN” (CUSIP: 05455W108).

The Transaction was completed in accordance with an amalgamation agreement dated May 13, 2021 (the “Amalgamation Agreement”) among the Company, 2835517 Ontario Ltd. (“Subco”), a wholly-owned subsidiary of the Company, and Awakn. On June 11, 2021, each of the Company and Awakn obtained the applicable shareholder approvals relating to the Transaction.

In accordance with the Amalgamation Agreement, effective as of June 15, 2021, the Company changed its name to Awakn Life Sciences Corp. and consolidated its issued and outstanding shares on the basis of one (1) post-consolidation share for every 42.5105 pre-consolidation shares (the “Consolidation”). Effective June 16, 2021 the Company completed the Transaction, pursuant to which Subco amalgamated with Awakn to form a single, wholly-owned subsidiary of the Company. Shareholders of Awakn received one (1) post-Consolidation common share of the Company for each common share of Awakn, and outstanding convertible securities of Awakn were exchanged for convertible securities of the Company on substantially the same terms.

Immediately prior to the completion of the Transaction, outstanding debentures of Awakn were converted into an aggregate of 3,382,095 common shares of Awakn in accordance with their terms, and, further to the Company’s press release dated June 8, 2021, an aggregate of 3,419,827 common shares of the Company were issued upon conversion of the outstanding subscription receipts issued pursuant to the Offering. As a result of the Transaction, the Company currently has 24,485,224 common shares outstanding, and has reserved for issuance (i) an aggregate of 1,663,328 common shares upon exercise of warrants, (ii) an aggregate of 321,540 common shares upon exercise of certain finder, advisory and broker warrants, and (iii) an aggregate of 1,585,000 common shares upon exercise of stock options.

The Company will carry on the business of Awakn, which is a biotechnology company with clinical operations, researching, developing, and delivering psychedelic medicine to treat addiction and other mental health conditions. The Company’s board of directors is now comprised of: George Scorsis (Chair), Anthony Tennyson, Dr. Benjamin Sessa, Stephen Page, and John Papastergiou. The officers of the Company are Anthony Tennyson (President and Chief Executive Officer), Jonathan Held (Chief Financial Officer), Dr. Benjamin Sessa (Chief Medical Officer), James Collins (Chief Operating Officer), and Shaun McNulty (Chief Science Officer).

Media enquiries:

America and Canada: KCSA Strategic Communications - Anne Donohoe (awakn@kcsa.com)

Rest of World: ROAD Communications - Paul Jarman / Anna Ramsey (awakn@roadcommunications.co.uk)

Investor enquiries:

KCSA Strategic Communications - Valter Pinto / Tim Regan (awakn@kcsa.com)

About the Company

Awakn Life Sciences is a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicine to treat addiction. Awakn has a dual strategic focus of researching and developing psychedelic drugs, therapies, and enabling technologies to treat addiction and delivering psychedelic treatments for addiction in clinics in the UK and EU and through licencing partnership beyond the UK and EU.

Notice Regarding Forward Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating to the proposed NEO listing, and the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include: whether conditions to the listing on NEO will be satisfied; the business plans and strategies of the Company, the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company’s and Awakn’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is availableInvestor enquiries: KCSA Strategic Communications - Valter Pinto / Tim Regan (awakn@kcsa.com) About the Company Awakn Life Sciences is a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicine to treat addiction. Awakn has a dual strategic focus of researching and developing psychedelic drugs, therapies, and enabling technologies to treat addiction and delivering psychedelic treatments for addiction in clinics in the UK and EU and through licencing partnership beyond the UK and EU. Notice Regarding Forward Looking Information This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating to the proposed NEO listing, and the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include: whether conditions to the listing on NEO will be satisfied; the business plans and strategies of the Company, the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law. This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company’s and Awakn’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

TORONTO, Ontario, June 10, 2021 – Awakn Life Sciences Inc. (Awakn), a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicine to treat Addiction, announced today that Anthony Tennyson, Chief Executive Officer, and Professor Celia Morgan, Head of Awakn’s Ketamine-Assisted Psychotherapy for Addiction Practice, will participate in H.C. Wainwright’s Psychedelics in Psychiatry and Beyond Virtual Conference panels on Thursday, June 17, 2021.

H.C. Wainwright Psychedelics in Psychiatry and Beyond Virtual Conference

Date: Thursday, June 17^th
Time: 9:00 – 10:00 a.m. ET
Speaker: Anthony Tennyson
Panel: Disruptive Psychopharmacology – An Introduction to Psychedelics and the Coming Revolution in Psychiatry

Time: 2:00 – 3:30 p.m. ET
Speaker: Professor Celia Morgan
Panel: The Patient Experience and Commercial Considerations when Launching Psychoactive Agents in Psychiatry

To register for the webcast of each panel please visit here.

For more information regarding the conference, or to schedule a one-on-one meeting with Awakn’s management team, please contact KCSA Strategic Communications at Awakn@KCSA.com or your H.C. Wainwright representatives directly.

Media enquiries:
America and Canada: KCSA Strategic Communications - Anne Donohoe (Awakn@KCSA.com)
Rest of World: ROAD Communications - Paul Jarman (paul@roadcommunications.co.uk) / Anna Ramsey (anna@roadcommunications.co.uk)

Investor enquiries:

KCSA Strategic Communications - Valter Pinto / Tim Regan (Awakn@KCSA.com)

About Awakn Life Sciences Inc.
Awakn Life Sciences is a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicine to treat Addiction. Awakn is integrating psychedelic medicine into mainstream healthcare through Research, Digital, Clinics, and Ecosystems.

www.awaknlifesciences.com  |  Twitter  |  LinkedIn  |  Facebook

Vancouver, B.C., June 8, 2021 – 1169082 B.C. Ltd. (the “Company”) and Awakn Life Sciences Inc. (“Awakn”), are pleased to announce the closing of the previously announced brokered private placement of 3,320,220 subscription receipts (the “Subscription Receipts”) in the capital of Awakn at a price of $2.50 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of $8,300,550 (the “Offering”). 

Lead investors that participated in the offering, include Ambria, Iter Investments, JLS, Negev Capital and Neo Kuma Ventures, among others, settled directly with Awakn. 

The Offering was co-led by Canaccord Genuity Corp. and Eight Capital (together, the “Co-Lead Agents”) on behalf of a syndicate of agents including Stifel GMP (together with the Co-Lead Agents, the “Agents”). 

The Offering was carried out in connection with an amalgamation agreement dated May 13, 2021 (the “Amalgamation Agreement”) entered into among the Company, Awakn and 2835517 Ontario Ltd. (the “Subco”), a wholly-owned subsidiary of the Company, which, subject to certain conditions and applicable shareholder and regulatory approvals, will result in a reverse takeover of the Company by Awakn (the “Proposed Transaction”). The resulting issuer from the Proposed Transaction (the “Resulting Issuer”) will carry on the business of Awakn.

Upon the satisfaction of the Release Conditions (as defined below), each Subscription Receipt will be automatically exchanged for one common share in the capital of Awakn (each, an “Awakn Share”) without payment of any additional consideration or further action on the part of the holder thereof. At the effective time of the Proposed Transaction, each Awakn Share will be exchanged for one common share in the capital of the Resulting Issuer (each, a “Resulting Issuer Share”) (on a post-consolidation basis).

The gross proceeds of the Offering, less 50% of the Agents’ Fee (as defined below) and certain expenses of the Agents, will be held in escrow pending satisfaction of certain escrow release conditions contained in the subscription receipt agreement entered into between Awakn, the Co-Lead Agents and Endeavor Trust Corporation (the “Subscription Receipt Agreement”) governing the Subscription Receipts, including but not limited to the approval of the NEO Exchange for the listing of the Resulting Issuer Shares (the “Release Conditions”). In the event that the Release Conditions have not been satisfied on or prior to October 6, 2021 (the “Escrow Release Deadline”), or if Awakn advises the Co-Lead Agents or announces to the public that it does not intend to satisfy the Release Conditions or that the Proposed Transaction has been terminated, the aggregate Issue Price of the Subscription Receipts (plus any interest earned thereon) shall be returned to the applicable holders of the Subscription Receipts (net of any applicable withholding taxes), and such Subscription Receipts shall be automatically cancelled and be of no further force and effect. 

In consideration for their services in connection with the Offering, the Agents received (i) a cash commission equal to 7.0% of the gross proceeds raised pursuant to the Offering (provided that the commission for president’s list subscribers was reduced to 3.5%) plus a cash fee equal to $367,406 in satisfaction of certain advisory services performed by the Agents (together, the “Agents’ Fee”); and (ii) that number of warrants (the “Agents’ Warrants”) equal to 7.0% of the aggregate number of Subscription Receipts issued pursuant to the Offering (provided that the number of Agents’ Warrants for president’s list subscribers was reduced to 3.5%) plus 146,962 Agents’ Warrants in satisfaction of certain advisory services performed by the Agents. Each Agents’ Warrant is exercisable into one Awakn Share at the Issue Price for a period of 24 months from the date the Release Conditions are satisfied.  In connection with the completion of the Proposed Transaction, each Agents’ Warrant will be exchanged into one compensation warrant of the Resulting Issuer, which will be exercisable for one Resulting Issuer Share at the Issue Price for a period of 24 months from the date the Release Conditions are satisfied. In addition, the Co-Lead Agents were issued 99,607 Subscription Receipts in satisfaction of the corporate finance fee. 

The Subscription Receipts issued under the Offering are subject to an indefinite hold period in Canada. The Resulting Issuer Shares will be freely tradeable following the completion of the Proposed Transaction. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. It is expected that the net proceeds from the Offering will be used by the Resulting Issuer for clinic openings, research and development, general and administration expenses, and general working capital.

About Awakn

Awakn Life Sciences (www.awaknlifesciences.com) is a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicine to treat Addiction. Awakn is integrating psychedelic medicine into mainstream healthcare through Research, Digital, Clinics, and Ecosystems.

1169082 B.C. LTD.

On behalf of the Board of Directors      

Scott Munro, Chief Executive Officer 

Contact: pubcosrvc@outlook.com  

Awakn Life Sciences

Media enquiries:

ROAD Communications - Paul Jarman (paul@roadcommunications.co.uk) / Anna Ramsey (anna@roadcommunications.co.uk)

Investor enquiries:

KCSA Strategic Communications – 

Valter Pinto or Tim Regan 

PH: (212) 896-1254

Awakn@KCSA.com 

Notice Regarding Forward Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the conditions to converting the Subscription Receipts, use of proceeds of the Offering, the completion of the Proposed Transaction and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. As a result, there can be no assurance that the Proposed Transaction will be completed as proposed or at all. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct. 

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. The forward-looking statements in this press release include the information related to the conversion of the Subscription Receipts, the use of proceeds of the Offering, and the Company's intentions regarding the completion of the Proposed Transaction. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to continue operations if the Proposed Transaction is not completed, the Company's ability to raise further capital, the Company's ability to obtain regulatory and exchange approvals, and the Company's ability to complete the Proposed Transaction. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company’s and Awakn’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Vancouver, British Columbia--(Newsfile Corp. - May 17, 2021) - 1169082 B.C. Ltd. (the "Company") is pleased to announce that it has entered into a definitive binding amalgamation agreement dated May 13, 2021 (the "Amalgamation Agreement") among the Company, 2835517 Ontario Ltd. ("Subco"), a wholly-owned subsidiary of the Company, and Awakn Life Sciences Inc. ("Awakn"), which, subject to certain conditions and applicable shareholder and regulatory approvals, will result in a reverse takeover of the Company by Awakn (the "Proposed Transaction"). The resulting issuer from the Proposed Transaction (the "Resulting Issuer") will carry on the business of Awakn.

The Proposed Transaction

Pursuant to the terms of the Amalgamation Agreement, the Proposed Transaction will be completed by way of a three-cornered amalgamation involving Subco amalgamating with Awakn to form a single, wholly-owned subsidiary of the Resulting Issuer. Shareholders of Awakn shall receive one (1) post-Consolidation (as defined below) common share of the Resulting Issuer for each common share of Awakn, and convertible securities of Awakn shall be exchanged for convertible securities of the Resulting Issuer on substantially the same terms and exercisable into such number of Resulting Issuer shares as the holder of such Awakn convertible security would have been entitled to, if it had been exercised prior to the completion of the Proposed Transaction.

In connection with the Proposed Transaction, the Company will reconstitute its board of directors and management team, consolidate all of its issued and outstanding shares on the basis of 1 post-consolidation share for every 42.5105 pre-consolidation shares (the "Consolidation"), and change its name to "Awakn Life Sciences Corp." or such other name as may be accepted by the relevant regulatory authorities (the "Name Change") and the Resulting Issuer will conduct its business under the new name. As a condition to the Proposed Transaction, the common shares of the Resulting Issuer will have been conditionally approved for listing on the NEO Exchange Inc. ("NEO"), and the listing of the Resulting Issuer shares on NEO will be subject to the satisfaction of all conditions of listing required by NEO.

The Amalgamation Agreement provides for certain other conditions to the completion of the Proposed Transaction, including Awakn completing a brokered financing (the "Concurrent Financing"), the Company obtaining the necessary shareholder and board approvals to reconstitute its board and management, and effect the Consolidation and the Name Change, Awakn obtaining the necessary shareholder and board approvals to effect the Proposed Transaction, and other closing conditions customary for transactions of the nature of the Proposed Transaction.

Concurrent Financing

In connection with the Proposed Transaction, Awakn plans to complete a private placement of subscription receipts with a syndicate of agents (the "Agents") co-led by Canaccord Genuity Corp. and Eight Capital (together, the "Co-Lead Agents") to raise up to 3,200,000 subscription receipts on a commercially reasonable efforts basis ("Subscription Receipts") at a price of $2.50 per Subscription Receipt (the "Issue Price") for gross proceeds of up to $8,000,000. In addition, the Agents shall have the option, exercisable at any time prior to the closing date of the Concurrent Financing, to increase the size of the financing by up to 480,000 additional Subscription Receipts for additional gross proceeds of up to $1,200,000. Up to $1,000,000 of the Concurrent Financing may be subscribed for by "President's List" investors.

The gross proceeds of the Concurrent Financing, less 50% of the Agents' cash commission (as described below) and certain expenses of the Agents, will be deposited in escrow on the closing date of the Concurrent Financing until the satisfaction of certain release conditions, including that all conditions precedent to the Proposed Transaction have been met (the "Release Conditions").

Upon the satisfaction of the Release Conditions, each Subscription Receipt will be converted into one common share in the capital of Awakn (each, an "Awakn Share") without payment of any additional consideration or further action on the part of the holder thereof. At the effective time of the Proposed Transaction, each Awakn Share will be exchanged for one Resulting Issuer Share (on a post-consolidation basis).

In the event that the Release Conditions have not been satisfied prior to 120 days following the closing of the Concurrent Financing (the "Escrow Release Deadline"), or Awakn advises the Co-Lead Agents or announces to the public that it does not intend to satisfy the Release Conditions or that the Proposed Transaction has been terminated, the aggregate Issue Price of the Subscription Receipts (plus any interest earned thereon) shall be returned to the applicable holders of the Subscription Receipts (net of any applicable withholding taxes), and such Subscription Receipts shall be automatically cancelled and be of no further force and effect.

In consideration for their services in connection with the Concurrent Financing, the Agents will be entitled to receive (i) a cash commission (the "Agents' Commission") equal to 7.0% of the gross proceeds raised under the offering (provided that the Agents' Commission for President's List subscribers will be 3.5%); and (ii) that number of warrants (the "Agents' Warrants") as is equal to 7.0% of the aggregate number of Subscription Receipts issued under the offering (provided that the Agents shall receive that number of Agents' Warrants as is equal to 3.5% for President's List subscribers). Each Agents' Warrant will be exercisable into one Awakn Share at the Issue Price for a period of 24 months from the closing date of the Proposed Transaction. In connection with the completion of the Proposed Transaction, each Agents' Warrant will be exchanged into one compensation warrant of the Resulting Issuer, which will be exercisable for one Resulting Issuer Share at the Issue Price of the Subscription Receipts.

The Subscription Receipts will be offered in all provinces of Canada and such other jurisdictions as Awakn and the Co-Lead Agents may agree, where the Concurrent Financing can be offered and sold without the requirement to file a prospectus or similar document. It is expected that the net proceeds from the Concurrent Financing will be used for clinic openings, research and development, general and administration, and general working capital.

The Subscription Receipts issued in the Concurrent Financing will be subject to a statutory four month hold period. Upon completion of the Proposed Transaction and satisfaction of the Release Conditions, the Resulting Issuer Shares will not be subject to any hold period under applicable Canadian securities laws.

Closing of the private placement is subject to negotiation and execution of definitive documentation.

The Resulting Issuer

Upon completion of the Proposed Transaction, the Resulting Issuer will carry on the business of Awakn, which is a biotechnology company with clinical operations, researching, developing, and delivering psychedelic medicine to treat addiction and other mental health conditions.

Subject to applicable shareholder and NEO approval, upon completion of the Proposed Transaction, the board of directors and management of the Resulting Issuer will be comprised of the following individuals:

Anthony Tennyson, President, Chief Executive Officer, Director

Mr. Tennyson is an experienced professional and financial services industry executive, with over 15 years Risk Consulting and Capital Markets experience. Prior to co-founding Awakn Life Sciences, Anthony worked at Aon plc, a leading global professional services firm providing a range of risk, reinsurance, and health solutions, for 10 years holding a range of senior strategy and commercial roles. Anthony was global head of operations and strategy for Aon's risk consulting division and Anthony also led Aon's Energy and Financial Institutions risk consulting practice groups globally. Prior to Aon, Anthony worked in capital markets for five years with both Merrill Lynch and Bank of Ireland. Anthony holds an MBA in specializing in Strategy and Finance and an MSc in Technology both from University College Dublin's Smurfit Graduate School of Business, Ireland's top ranked business school.

Jonathan Held, Chief Financial Officer and Secretary

Mr. Held, CPA, CA, is a seasoned financial executive with CFO level experience for private / public companies. Mr. Held is a partner at ALOE Finance, a boutique firm specializing in transaction advisory and senior level finance solutions. Mr. Held has worked in a number of sectors including technology, biotech and natural resources, both domestic and international, and has been involved in numerous successful public market transactions including initial public offerings, reverse takeovers and financings. Mr. Held was previously a Director and Chief Financial Officer of Tassili Life Sciences Corp. which focused on mTBI and PTSD research. Mr. Held holds a Bachelor of Mathematics and Masters of Accounting from the University of Waterloo.

Dr. Benjamin Sessa, Chief Medical Officer and Director

Dr. Sessa MBBS (MD) BSc MRCPsych is a consultant child and adolescent psychiatrist who has worked with young people and adults in the field of addictions and trauma-related psychiatry for over 20 years. For the last 15 years Ben has been at the forefront of psychedelic research in the UK through his affiliations with Bristol University and Imperial College London, alongside of Professor David Nutt. He has taken part as a study doctor and as a healthy subject both receiving and administering MDMA, psilocybin, LSD, DMT and ketamine in multiple UK research studies. He ran one of the first UK-based medical cannabis prescribing clinics, having written over 500 prescriptions for medical cannabis. Ben is the Chief Medical Officer at Awakn Life Sciences, a company opening Europe's first psychedelic medical clinic, providing psychedelic psychotherapy with ketamine for a wide range of psychiatric indications. Ben is an approved and registered MDMA and psilocybin therapist. He has led research into MDMA-assisted therapy for Alcohol Use Disorder and continues to carry out research in this area. Ben has been delivering keynote talks at international conferences in the psychedelic community for over 15 years and is also developing psychedelic therapist training courses as part of his role at Awakn Life Sciences. Ben is the co-founder and former president of Europe's largest psychedelic conference, Breaking Convention.

James Collins, Chief Operating Officer

Mr. Collins is a senior business leader and mental health champion with 17 years of experience with Accenture Strategy, 7 years as Managing Director, designing and delivering corporate, digital and operating model strategies. James is an industry thought leader with several publications on digital innovation and the transformation of industries, including major studies in collaboration with the World Economic Forum. While at Accenture James was a champion for Inclusion, Diversity & Mental Health driving awareness and structural change to address inequity in the workplace. James holds a BSc and MPhil in Psychology from University College London (UCL), and a Foundation Certificate in Psychotherapy, Counselling & Coaching from the New School of Psychotherapy and Counselling (NSPC).

Shaun McNulty, Chief Science Officer

Dr. McNulty is an experienced drug development expert who has worked in and consulted for pharmaceutical and biotechnology companies for over 25 years. After obtaining a D.Phil. in CNS cell signaling from the University of York, he undertook post-doctoral studies at the University of Cambridge, researching neuronal cell signaling and molecular regulation of circadian physiology. Dr. McNulty's industrial career began managing research and drug development teams and projects first for Pfizer and then for GSK Neuroscience departments. Dr. McNulty then moved into the biotechnology sector, managing portfolios and product development activities for both Syntaxin and ImmBio. Shaun went on to lead all research and drug development activities for Biosceptre and Inflection Biosciences as CSO. His career has focused on the identification, development and translation of innovative therapeutics, from target identification and characterization, to obtaining regulatory clearance for and managing clinical trials.

George Scorsis, Chairman of the Board

Mr. Scorsis has over 25 years of experience leading companies in highly regulated industries to rapid growth, including alcohol, energy drinks and, most recently, medical cannabis. While attending York University, completing his Bachelor in Administrative Studies, Mr. Scorsis worked as a University Ambassador for Bacardi Canada and held several executive roles. Following York University, Mr. Scorsis obtained an MBA at Queens University. Mr. Scorsis, formerly President of Red Bull Canada, was instrumental in restructuring the organization from a geographical and operational perspective, growing the business to $150 million in revenue. He also worked closely with Health Canada on guidelines regulating the energy drink category. Mr. Scorsis also brings agricultural and technological experience from his time as President at Mettrum Health Corp., which was acquired for $473 million by Canopy Growth Corporation. Mr. Scorsis was also the CEO and Director of Liberty Health Sciences Inc., which was one of the first Canadian cannabis companies to expand into the United States. He also served as Chairman of the Board of Directors of Scythian Biosciences Corp., a research and development company committed to advancing treatment efforts for traumatic brain injury with its proprietary cannabinoid-based combination drug therapy and additional cannabis-related activities across the globe as well as the former Chairman of Tassili Life Sciences Corp. which focuses on PTSD research. Mr. Scorsis is currently the Executive Chairman of WeedMD Inc.

Stephen Page, Director

Mr. Page is an experienced healthcare executive and board member, having significant experience working with both the National Health Service ("NHS"), and private enterprises in the United Kingdom. Mr. Page worked in the NHS for fifteen years and was the first CEO of Oxleas NHS Trust from 1993 through 1998, which focused on mental health and learning difficulties. From 1998 to 2005, Mr. Page worked on the board of directors of a number of private sector companies, including Priory Healthcare and Nestor plc. In 2005, Mr. Page was the CEO of Acorn Care and Education, which he grew through acquisitions and organic growth to become a leading national provider of special needs education and foster care resulting in the eventual sale to the Ontario Teachers' Pension Plan in 2010. Mr. Page currently consults within the health, social care and education industry and acts as an executive coach seeking to promote high quality leadership and management in the sector. Mr. Page also acts as the Chair of Sequence Care, New Reflections and Brain in Hand. Mr. Page holds an MBA from London Business School and a Business Studies Degree from Sheffield University.

John Papastergiou, Director

Professor Papastergiou is an experienced clinical research scientist and pharmacist. He has served as an advisor to many large pharmaceutical organizations including Bayer, Pfizer, GSK, and Astra Zeneca and he owns and operates four large community pharmacies in Canada. Prof. Papastergiou's innovative research in the area of point-of-care diagnostic testing and pharmacogenomics has led to the development and advancement of a number of tech start-up companies of which he has sat on the board of directors. Prof. Papastergiou holds Faculty appointments at the schools of Pharmacy at each of the University of Toronto and the University of Waterloo. Prof. Papastergiou has won a number of awards including Canadian Pharmacist of the Year. In 2019, he was named by the International Forum on Advancement of Healthcare as one of the top 100 healthcare leaders globally and was also presented with the Ontario Pharmacists' Association Award for Excellence in Research and Academia. Prof. Papastergiou holds multiple degrees including a PhD from Rhabdoud University, Netherlands. He is a sought after speaker, author, and media personality participating at events in over 30 countries.

Upon the completion of the Proposed Transaction, it is expected that Awakn shareholders will hold approximately 99% of the issued and outstanding Resulting Issuer shares on a non-diluted basis. Investors are cautioned that, except as disclosed in the Company's management information circular to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Defining clear development pathway for next generation of psychedelic medicines to treat addiction

Awakn announces today the initiation of a new chemical entity (NCE) development program to strengthen Awakn’s pipeline for the treatment of a broad range of addictions. The Company has also announced the appointment of Evotec as NCE research partner and the selection of Prof. David Nutt, one of the world’s leading experts on addiction, as program lead.

This announcement follows Awakn’s March 2021 acquisition of a significant body of proprietary research from Equasy Enterprises, including details of newly discovered actions of MDMA (Equasy Acquisition).

Awakn will build on its position and experience as a clinical phase biotechnology company to develop a range of innovative and targeted new candidates to treat several poorly addressed addictions. Awakn will focus on addictions where the consequences for the patient, their family and society are at present severe.

The selection of Evotec as NCE research partner, combined with the appointment of Prof. David Nutt, and the Equasy Acquisition will significantly expedite the identification and characterization stages of Awakn’s program to develop the next generation of psychedelic medicines to treat Addiction and will position Awakn at the forefront of the emerging psychedelic biotechnology industry.

Professor David Nutt commented, “The molecules we are targeting will bring together the best therapeutic characteristics of MDMA; will have a more rapid onset of activity, and a short half-life, in a research space where we expect to secure patent protection and have freedom to operate.”

“Our ambition is to fully integrate effective psychedelic-based treatment into mainstream healthcare to better treat Addiction'' said Anthony Tennyson, Awakn’s CEO. “Some of the world’s leading research data now lies with us, we have a clinical team with unparalleled experience in treating addiction, and now the appointment of a leading global research partner will significantly speed up this process.”

Awakn announces the appointment of Stephen Page and Professor John Papastergiou as independent non-executive directors to the company's Board of Directors. Adding significant pharmaceutical and healthcare sector experience and independent board governance to Awakn.

Stephen Page has worked in executive and Board of Director roles in the UK healthcare industry for over 30 years, most notably leading Priory Healthcare, the largest network of mental healthcare hospitals and clinics in the UK, through a period of rapid expansion and market dominance. He has led and successfully grown organizations in both public and private sectors including Oxleas NHS Trust in London (which focused on mental health), Nestor plc and Acorn Care and Education. 

As founding CEO of Acorn Care and Education, and supported by Phoenix Equity Partners, Steve built the company via acquisition and organic growth to be a leading national provider of special needs education and foster care. He led the sale to the Ontario Teachers’ Pension Plan in 2010.

Professor Papastergiou is an experienced pharmacist and clinical research scientist who has served as an advisor to several leading pharmaceutical organizations including Bayer, Pfizer, GSK, and Astra Zeneca. His innovative research in point-of-care diagnostic testing and pharmacogenomics has led to the development and advancement of several tech start-up companies of which he also served as a board director.  

Professor Papastergiou holds Faculty appointments at the schools of Pharmacy at the University of Toronto and the University of Waterloo. In 2019, he was named by the International Forum on Advancement of Healthcare as one of the top 100 healthcare leaders globally and was also presented with the Ontario Pharmacists’ Association Award for Excellence in Research and Academia. 

"We are pleased to welcome both Steve and John’s significant experience and independent governance to our Board of Directors at this next stage of Awakn’s evolution," said George Scorsis, Awakn’s Chairman. "Both are highly respected and have extensive experience in up-scaling fast-growing companies in the mental health and biotechnology sectors, respectively. We look forward to their assistance in guiding us towards our objectives to develop and deliver psychedelics and psychedelic-assisted psychotherapy to radically change mental health services and deliver significantly better patient outcomes.”

First project to use advanced analytics to explore identity shifts in alcohol addiction

Awakn launches 'Awakn Digital', a new unit focused on using advanced analytics to improve the effectiveness of Psychedelic-Assisted Psychotherapy in treating Addiction. Awakn deepened its partnership with the University of Exeter to apply the latest developments in digital, technology and innovation in healthcare to tackle addiction.

Awakn previously announced an exclusive license to use and deliver the 'Ketamine in the Reduction of Alcoholic Relapse' (KARE) psychotherapy intervention, as validated in a Phase II clinical trial led by the University of Exeter.

The new agreement further deepens the partnership between Awakn and the University of Exeter by establishing a framework for the two organisations to work together to use advanced data analytics to improve the effectiveness of ketamine-assisted psychotherapy in treating addiction.

The first project will use a pattern classifier to detect identity shifts following ketamine treatment in Awakn clinics. The project builds on the work of Dr Koschate-Reis who holds an EPSRC Innovation Fellowship "Psychological Identity in a Digital World" and has been working on developing digital signatures of identity shift in recovery in people with problematic substance use in collaboration with local drug and alcohol services.

Prof. Celia Morgan, Head of Psychology, Professor of Psychopharmacology, University of Exeter will lead the project.

Prof. Celia Morgan stated, "By using an advanced data analytics approach in our work with Awakn, we aim to develop a richer understanding of the process of change following psychedelic treatment. The insights gained will allow us to transform and target our treatments to maximise their effectiveness for each and every patient."

Anthony Tennyson, Awakn Chief Executive Officer, stated, "We are delighted to be deepening our relationship with the University of Exeter. There is a significant gap between patient need and effective addiction treatment solutions in the UK. Ketamine-assisted psychotherapy has demonstrated early promise in being an effective treatment option for some patients. We are looking forward to assessing how advanced data analytics can improve the effectiveness of this treatment option and improve patient outcomes in the UK."

Prof. Nutt appointed Head of Research to Lead Awakn’s Next-Gen Psychedelic Molecule Development

Awakn Life Sciences announces the acquisition of significant proprietary research data on next generation candidate MDMA and Ketamine molecules from Prof. David Nutt’s Equasy Enterprises. In addition to the acquisition of the data, Prof. Nutt has been appointed as Head of Research to lead Awakn’s next generation psychedelic molecule development programme.

This latest development adds significantly to Awakn’s already strong research programmes, with the world’s first Phase II b MDMA-Assisted Psychotherapy trial initiated and further research planned on Ketamine-Assisted Psychotherapy. This milestone is in addition to Awakn’s recently announced exclusive licence of the intellectual property from the world’s only phase IIab trial of ketamine for Alcohol Use Disorder from the University of Exeter.

Prof. Nutt, Head of Research and Chair of the Scientific Advisory Board, Awakn Life Sciences, states, “I have worked in novel psychopharmacological molecule development for many years and have completed over 5 years of research specifically on next generation MDMA and Ketamine candidate molecules. I am delighted to be able to bring the research forward, to lead this activity in Awakn, and to significantly accelerate the development of new compounds to better treat Addiction.”

Anthony Tennyson, CEO Awakn Life Sciences, comments, “This is another great step forward for Awakn. Adding Next-Gen Psychedelic Molecule Development to our already strong research division and soon to be launched UK and EU clinics platform positions us firmly in the top tier of this industry.”