AWAKN LIFE SCIENCES INITIATES NEW CHEMICAL ENTITY DEVELOPMENT PROGRAM WITH EVOTEC AS RESEARCH PARTNER AND ADDICTION EXPERT, PROF. DAVID NUTT, AS PROGRAM LEAD

AWAKN LIFE SCIENCES INITIATES NEW CHEMICAL ENTITY DEVELOPMENT PROGRAM WITH EVOTEC AS RESEARCH PARTNER AND ADDICTION EXPERT, PROF. DAVID NUTT, AS PROGRAM LEAD

DEFINING CLEAR DEVELOPMENT PATHWAY FOR NEXT GENERATION OF PSYCHEDELIC MEDICINES TO TREAT ADDICTION

TORONTO, CANADA, 27 April 2021 – Awakn Life Sciences Inc. (Awakn), a biotechnology company with clinical operations researching, developing, and delivering psychedelic medicines to treat Addiction, announced 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.”