Awakn Life Sciences Completes Sale of Awakn Clinics In Norway

As part of its business restructuring process and following its London clinics business sale, UK-based biotech Awakn Life Sciences Corp. AWKNF has sold its Norwegian clinics businesses in a management buyout transaction.

Awakn will receive a fee for the acquisition of both clinics, one in Oslo and the other in Trondheim. The company executed a licensing agreement for certain elements in its healthcare services IP, as well as a license for the Kare protocol use in Norway, in exchange for a share of the clinics’ revenue on an ongoing basis.

This announcement marks the completion of its recently announced strategic review, aka Awakn’s exit from healthcare services. 

It will enable a complete “resources and energy” focus on Awakn’s biotech research and development programs around addiction therapeutics, which are “moving at pace” according to CEO Anthony Tennyson. 

For instance, lead program AWKN-P001, consisting of racemic ketamine paired with psycho-social support to treat severe Alcohol Use Disorder (AUD), is expected to enter the Phase 3 clinical stage in the UK sometime within this year’s fourth quarter.

For Tennyson, it is “a key transaction” and “a very important milestone” for Awakn. Also, he says, it allows the two Norwegian clinics to continue to do “the exceptional work” for their clients.

“There is no one better positioned in the Nordics to do that work than Dr. Lowan Stewart and Dr. Ingrid Castberg. They are pioneers in this field and I have no doubt will make a huge success of the business. It has been a privilege working with them,” said Tennyson.

Dr. Stewart says that working with Awakn Life Sciences has enabled his team to “significantly expand access” to patients in Norway, by building a “state-of-the-art clinic” in Oslo and opening “the first such clinic” in Trondheim. 

“Moving forward as a wholly Norwegian company, we will be focusing on providing the best care available to patients in the Nordics. We are also happy to be able to continue to offer the Awakn Kare protocol to people suffering with alcohol use disorder,” Stewart concluded.


In accordance with an executed agreement between The Dales Report and Awakn Life Sciences, The Dales Report is engaged with the aforementioned on a current 4-month contract and has received 125,000 common shares for services rendered included in the agreement, with the purpose of publicly disseminating information pertaining to Awakn Life Sciences via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer .

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