Rising High: Exclusive talk with psychedelic biotech company Awakn - InvestingChannel

Rising High: Exclusive talk with psychedelic biotech company Awakn

Awakn CEO talks psychedelic therapeutics, challenges, opportunities, and more
In this edition of “Rising High,” The Fly conducted an exclusive interview with Anthony Tennyson, chief executive officer of Awakn Life Sciences (AWKNF), a biotechnology company focused on developing and delivering psychedelic therapeutics to treat addiction. Here are some highlights:

PSYCHEDELIC THERAPEUTICS: Awakn is a biotechnology company developing psychedelic therapeutics to treat addiction and an operator of clinics to administer those treatments. “We’re a cutting-edge biotech company developing and delivering psychedelic therapeutics, a combination of therapy and drugs to be used together to better treat addiction,” the CEO said. “Not only that we’re also going to be delivering those treatments and those therapeutics in clinics across the UK and the EU.” Awakn currently has two clinics open, plans for another 18 by the end of 2024 and expects to deliver therapeutics through franchise and licensing partnership arrangements on a global level starting next February, he said. “The real core reason that we’re set up that way is biotech companies are expensive businesses to build and run,” Tennyson said. “Typically they tend to be about seven and a half years away from revenue and we believe that’s just not good enough. Revenue means treating people and waiting seven and a half years to treat people given the mental health and addiction crisis that society is currently faced with right now just isn’t bloody good enough.”

Awakn is building clinics in order to treat people now, earn revenue and reinvest it back into the biotech business, he said. “That enables us to actually help more people, better, quicker, faster in the longer run,” the CEO said. “And the focus on addiction is because we have built a team which is the best team in the world in the use of psychedelics to treat addiction.” He noted chief research officer David Nutt, head of department in the Imperial College of London and a former advisor to the UK state on drug policy reform and head of ketamine research Celia Morgan, head of department in the University of Exeter and leader of the world’s only trial for ketamine-assisted psychotherapy to treat alcohol use disorder. Dr. Ben Sessa also serves as the chief medical officer, Tennyson said, and he led the world’s only trial for MDMA to treat alcohol use disorder. “The approach that were taking to treat addiction, it’s radical, it’s revolutionary and it hasn’t been tried by anyone else before,” he said. “What we’re doing is we understand how addiction influences changes in the circuits of the brain and we’re using that combined approach to therapies and drugs together to address that. We’re using drugs like MDMA and ketamine in the near-term to disrupt those connections and then bringing in psychotherapy to enable these patients a permanent change in how they view themselves and how they view their addictions.”
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