AWAKN LIFE SCIENCES CORP - AWKNF STOCK NEWS

Awakn Life Sciences (AWKNF) has entered into a binding letter of intent with Graft Polymer (UK) PLC for a proposed acquisition. Under the agreement, Graft will acquire all of Awakn's issued and outstanding common shares, RSUs, and DSUs. Shareholders will receive 46.67 Graft shares for each Awakn share, valuing Awakn shares at $0.20 each - a 110.54% premium to the December 13 closing price.

The total acquisition price is $8,890,194, with 2,074,378,592 consideration shares to be issued. The transaction must complete by June 15, 2025, and is subject to various approvals including shareholders, regulatory bodies, and court approval. Following completion, Awakn will delist from CSE and cease to be a reporting issuer in Canada.

Awakn Life Sciences has announced promising initial results from a preclinical study of its aminoindane series (AW21003) conducted at the University of Nottingham. The study focuses on developing new therapeutic options for trauma-related mental health disorders, particularly PTSD.

The compound AW21003 demonstrated enhanced social interaction and information transfer capabilities while showing a favorable safety profile compared to MDMA, with no observed stereotyped behaviors like flat body posture or lateral head weaving. The research targets a significant market, with PTSD affecting approximately 13 million adults in the U.S. and 20 million across the U.S., UK, and Europe.

Following these results, Awakn plans to expand its aminoindane program by synthesizing additional compounds in collaboration with Concept Life Sciences and conducting further preclinical behavioral studies at the University of Nottingham.

Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has opened four additional clinical trial sites for its Phase 3 'MORE-KARE' trial of AWKN-001, a novel treatment for severe Alcohol Use Disorder (AUD). This brings the total active trial sites to 7 across the UK. AWKN-001 combines intravenous ketamine with psycho-social support.

The study, co-funded by the UK's Medical Research Council, National Institute for Health and Care Research, and Awakn, aims to evaluate the efficacy of a single treatment cycle of AWKN-001. Participants will receive varying doses of ketamine infusion and psycho-social support, with both participants and researchers blinded to the assignments.

This landmark trial is the largest of its kind investigating ketamine-assisted therapy for AUD, with an estimated total cost of £2.4 million / CAD 4.2 million. Awakn is contributing £0.8 million / CAD 1.4 million to the study, which is being conducted at eight NHS sites across the UK.

Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has partnered with the University of Nottingham for in vivo testing of its aminoindane New Chemical Entity (NCE) pre-clinical program. The study, led by Dr. Madeleine King, will evaluate Awakn's co-lead aminoindane series for its potential to enhance social cognition and pro-social behaviors.

The research will use the Social Transmission of Food Preferences (STFP) test in rodent models over a two-month period, with results expected by the end of 2024. This collaboration follows Awakn's recent partnership with Eurofins Discovery for in vitro pharmacology testing of the same aminoindane series.

Awakn's aminoindane NCE program, developed with Graft Polymer (UK) Plc, aims to create new therapeutic options for trauma-related mental health disorders, particularly PTSD, which affects approximately 13 million adults in the U.S. and 20 million individuals across the U.S., UK, and Europe.

Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has selected Eurofins Discovery to conduct initial pharmacology testing for its co-lead aminoindane series as part of its New Chemical Entity (NCE) pre-clinical program. This collaboration marks a significant milestone in Awakn's mission to develop next-generation therapeutics for substance use and mental health disorders, with a near-term focus on Alcohol Use Disorder (AUD).

The NCE program, developed in partnership with Graft Polymer (UK) Plc, aims to create a new class of therapeutics for trauma-related mental health disorders, such as Post-Traumatic Stress Disorder (PTSD). This condition affects approximately 13 million adults in the U.S. and 20 million collectively in the US, UK, and key European markets.

Prof. David Nutt, Awakn's Chief Research Officer, expressed confidence that this collaboration will accelerate their path to delivering groundbreaking treatments. CEO Anthony Tennyson emphasized the potential impact of the NCE program for patients across North America and beyond.

Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has announced an upsizing of its non-brokered private placement financing from $1,000,000 to $2,000,000. The company has closed a fourth tranche of the offering, issuing 857,143 units at $0.46 per unit, raising an additional $394,286 for a combined total of $1,117,142. Each unit consists of one common share and 0.75 of a warrant, with each whole warrant allowing the purchase of one common share at $0.63 for five years. The proceeds will be used for general working capital. Securities issued are subject to a four-month hold period and applicable resale rules.

Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has announced significant progress in its pre-clinical program for developing therapeutics for trauma-related mental health disorders, particularly Post-Traumatic Stress Disorder (PTSD). The program, executed in collaboration with Graft Polymer, has identified two chemical series as co-leads for further development and established their synthesis pathways. Awakn has selected Charnwood Discovery as its synthesis partner and filed a provisional patent for a new class of aminoindane chemical entities and their derivatives. This progress aims to address the needs of approximately 13 million adults in the U.S. and 20 million collectively in key international markets affected by PTSD.

Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has announced the screening of the first patient in its landmark 'MORE-KARE' Phase 3 trial of AWKN-001 for severe Alcohol Use Disorder (AUD). This trial, co-funded by the UK's Medical Research Council, National Institute for Health and Care Research, and Awakn, aims to evaluate the effectiveness of ketamine-assisted therapy for AUD.

The study will assess the impact of a single treatment cycle of AWKN-001, which combines intravenous ketamine with psycho-social support. The primary endpoint is the reduction in heavy drinking days over six months post-treatment. With a total cost of £2.4 million (CAD 4.2 million), this is the largest study of its kind and could potentially revolutionize AUD treatment.

Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) has closed a third tranche of its non-brokered private placement, issuing 428,571 units at $0.46 per unit for additional gross proceeds of $197,143. Each unit comprises one common share and 0.75 of a warrant, with each whole warrant allowing the purchase of one common share at $0.63 for five years. The company has also extended the expiry date of 5,610,920 warrants with an exercise price of $0.68. Proceeds will fund general working capital. The securities are subject to a four-month hold period, and the warrant extension includes a related party transaction exempt from formal valuation and minority approval requirements.