Awakn successfully completes the first phase of its drug discovery program
Two chemical series identified to facilitate lead optimization activities
Toronto, Ontario–(Newsfile Corp. – April 6, 2022) – Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (“Awakn”), a biotechnology company that researches, develops, and delivers breakthrough therapies to treat addiction, today announced the successful completion of the first phase of its New Chemical Entities (NCE) development program, bolstering Awakn’s pipeline for treating a wide range of both substance and behavioral addictions.
Awakn has completed a “hit to lead” program that has achieved its key goals of identifying and patenting new chemical scaffolds. It has also established drug discovery assays that can facilitate lead optimization activities. This is an essential first step on the road to developing new, faster-acting and safer entactogen therapies for the market. A combination of computational screening and medicinal chemistry approaches has been used to identify many chemical scaffolds via in vitro pharmacology and DMPK assays. Several patents have now been filed with several of these chemical scaffolds, demonstrating in vivo activity, providing an excellent starting point for lead optimization activities.
Professor David Nutt, Director of Research at Awakn, said: “I am delighted that this unique and innovative program has progressed so quickly. We have patented two new molecular series that so far replicate the in vitro effects of MDMA and are now ready to be optimized for the next stage of in vivo studies, which are needed before proceeding in humans.”
This announcement builds on Awakn’s March 2021 acquisition of a significant body of Equasy Enterprises proprietary research from Professor Nutt, which included details of the newly discovered actions of MDMA and gave Awakn a point of view. good start for this phase of development.
Awakn is building a strong and unique portfolio of novel candidates targeted to treat both addictions and behavioral addictions. Behavioral addictions have no pharmacological treatment available globally and addiction rates are increasing at an alarming rate, while addiction success rates are very low.
About Awakn Life Sciences Corp.
Awakn Life Sciences is a biotechnology company that researches, develops and delivers breakthrough therapies to treat addiction. The Awakn team is made up of renowned research experts and world-renowned chemists, scientists, psychiatrists and psychologists. Drug addiction is one of the greatest unmet medical needs of our time, affecting over 20% of the world’s population and is an industry valued at over $100 billion a year. Awakn is disrupting this underperforming industry by rapidly advancing the next generation of drugs and therapies for use in combination, through preclinical research and clinical trials.
www.awaknlifesciences.com | Twitter | LinkedIn | Facebook
Notice Regarding Forward-Looking Information
This press 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 future performance of the Company. 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 planned”, “budget”, “expected”, “estimates”, “continues “, “forecasts”, “plans”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations or negatives of these words and expressions or declare that certain actions , events or results “may”, “could”, “would”, “should”, “could” or “will” be taken, occur or be carried out, including statements relating to the proposed listing of NEO and the activities of the Company. All forward-looking statements, including those contained herein, are qualified by this cautionary statement.
Although the Company believes that the expectations expressed in these statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those indicated in the statements. Certain factors could cause actual results to differ materially from those indicated in the forward-looking information. These include whether the requirements for listing on NEO will be met; the Company’s business plans and strategies; the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; the risks inherent in investing in target companies or projects that have limited or no operating history and that are engaged in activities currently considered illegal in certain jurisdictions; changes in laws; limited operating history; dependence on management; additional funding requirements; competition; inconsistent public opinion and perception regarding the medical use of psychedelic drugs; and regulatory or policy change. Readers are cautioned that the foregoing list of factors is not exhaustive of factors that could affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release speak only as of the date of this press release or as of the date or dates specified in such statements.
Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking information. For further information on the Company, investors are invited to consult the public documents filed by the Company 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, except as required by law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities of the Company and Awakn have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“) or any state securities law and may not be offered or sold in the United States or to United States persons unless registered under United States securities law and applicable state securities laws securities or an exemption from such registration.
Investor requests:
KCSA Strategic Communications
Valter Pinto / Tim Regan
Phone: +1 (212) 896-1254
[email protected]
Media inquiries:
America and Canada: KCSA Strategic Communications
Anne Donohe
[email protected]
Rest of the world: ROAD Communications
Paul Jarman/Nora Popova
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119425