Awakn to acquire controlling interest in Dr. Ben Sessa's clinical operations
Awakn announces today that it has signed a binding investment agreement to acquire a controlling interest in Mandala Therapy Limited, the UK based psychedelic clinical practice run by acclaimed author, researcher and consultant psychiatrist, Dr. Ben Sessa.
Dr. Sessa will become Awakn's Chief Medical Officer and will open the UK's first psychedelic-assisted psychotherapy clinic over the coming months. Under his leadership, Awakn intends to oversee a revolutionary shift in the treatment approach for mental health disorders, all backed by scientific evidence that triggered the FDA to grant breakthrough-therapy status for MDMA and psilocybin.
As part of the agreement, Dr. Sessa is also building training pathways that will open access for psychiatrists and psychologists across the country. Awakn expects the UK to continue to progress towards medicalising psychedelics, currently undertaking trials for MDMA and psilocybin while political reform is being led by Crispin Blunt MP and the Conservative Drug Reform Group.
Speaking of the acquisition, Dr. Sessa said, "Enough of the incessant belief that mental health disorders cannot be cured, this is the legacy of the ill-informed. Psychedelics have the potential to heal when used correctly and with psychotherapy pathways built for purpose. We are progressive thinkers at Awakn Life Sciences and see the need for clinics that are experts in the use of psychedelic medicine under safe, efficacious and scientifically validated frameworks. We are building the centre of excellence for the UK."
Commenting on the entry into the UK, Awakn CEO Anthony Tennyson said, "We see the early mover advantage in the UK market with patients already using ketamine as part of their treatment plans. Now is the time to build the UK's first psychedelic clinic to heal the growing tide of the mentally ill, and there is no-one better to lead the renaissance than Dr. Sessa. He has dedicated his professional career to psychedelic medicine, and we are honoured to have him leading our medical team."
The transaction by Awakn marks the first of its kind by a Canadian company in the UK and follows a period of huge growth of capital being invested in the psychedelic market across North America and Europe. The completion of the acquisition remains subject to certain closing conditions.