VANCOUVER, British Columbia--(BUSINESS WIRE)--REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) announces it has signed a licensing partnership agreement with Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) (‘Awakn’) to implement their KARE® protocol for those suffering from Alcohol Use Disorder seeking sustained recovery measures focused on relapse prevention.
Awakn’s proprietary ketamine-assisted therapy for the treatment of Alcohol Use Disorder was developed and validated in a Phase II a/b trial, with results announced in the American Journal of Psychiatry in January 2022. The trial delivered 86% abstinence over the six-month period post treatment versus 2% pre-trial and 25% in the current standard of care.
Under the terms of the license agreement Awakn will provide access to the proprietary therapeutics and training by their Subject Matter Experts to the Revitalist providers. Revitalist will pay an annual licensing fee and revenue share for clients seeking services through Revitalist and Awakn’s partnership.
The U.S. alcohol and substance addiction treatment industry is significant with 14,000+ treatment facilities in the country generating more than $30B in revenue. However, it is a poorly performing industry with 75% relapse rates typically seen in the 12 months post treatment. Awakn aims to improve performance of this industry by providing clinic operators with access to efficient and effective treatment option under license.
Revitalist CEO, Kathryn Walker states “With the evolution of the company and continued growth strategies with partners like Awakn Life Sciences, we hired Kevin Murray, Chartered Accountant (S.A.), as interim CFO to continue growth strategies in revenue alignment with the US health care system. Mr. Murray’s appointment fills the vacancy created by the resignation of Paul Ciullo on July 24, 2022. Walker continues, “We greatly appreciate Paul’s experience in growing the company to its current level and are excited to take it to the next level with Kevin.”
ABOUT AWAKN LIFE SCIENCES CORP
Awakn Life Sciences Corp. is a revenue-generating biotechnology company researching, developing, and commercialising therapeutics to treat substance and behavioral addictions. Awakn has a near-term focus on Alcohol Use Disorder (AUD), a condition affecting 400m people globally for which the current standard of care is inadequate. Our goal is to provide effective therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels.
ABOUT REVITALIST LIFESTYLE AND WELLNESS LTD.
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) is one of the largest publicly listed, ketamine focused clinic operations operating in the United States. Each clinic enables access to psychedelic medicine, vitamin infusions and other lifestyle optimization services provided by medical and behavioral professionals. Since opening their first clinic in 2018, Revitalist has provided thousands of ketamine infusions through its network of 9 clinics operating in 6 states. Its founder and CEO, Kathryn Walker, works as a lead provider in the psychedelic space. For additional information and to be added to the Company’s mailing list, please click here, https://revitalist.com/investors
On Behalf of the Board
Chief Executive Officer
Forward Looking Statements
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