The clinical-stage biotech company is involved in the development of therapeutics meant for treating addictions. Awakn Life Sciences Corp (CSE:AWKN) (OTCQB:AWKNF) is currently focussed on the Alcohol Use Disorder (AUD) condition. It is a condition that affects 285 million people worldwide and the current standard of care for the same is not adequate.
The company is looking to provide path-breaking therapeutics to sufferers of AUD who are in desperate need of assistance. Awakn Life Sciences is also looking to commercialize its research and development pipeline across multiple channels.
On July 5 the company came into focus after it announced that it had been successful in completing the sale of its subsidiary Awakn London Limited. The subsidiary had been responsible for the ownership and operations of its healthcare clinic located in London, United Kingdom. The subsidiary was acquired by Awakn Via Amitis Ltd, a joint venture entity.
The entity is jointly owned by Amitis Group, a private investment company in the United Kingdom, and Via, a healthcare charity in the United Kingdom focussed on mental health services and addiction. The clinic would continue to operate with the name Awakn Clinics London but the Via would be in charge of the operations.