Biotechnology company focusing on research, development and delivery of psychedelic medicine to treat addictions Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) announced having signed a Memorandum of Understanding (MOU) with Multidisciplinary Association for Psychedelic Studies (MAPS) to explore a partnership to utilize MDMA-assisted therapy to treat alcohol use disorder (AUD) across Europe.
As per the terms of the MOU, Awakn will explore a data licensing agreement with MAPS to support phase 2b and planned phase 3 studies for MDMA-assisted therapy for AUD in Europe by Awakn Life Sciences.
Both parties will also assess a partnership to secure marketing regulatory approval for the ethical commercialization of MDMA-assisted therapy for treatment of AUD in Europe.
“MAPS’ role in driving and advancing the use of psychedelics in the clinical setting over the last 35 years is second to none. We believe that by licensing MAPS’ pre-clinical data and exploring options for future ethical commercialization, we will improve the timeline and path to market for these life-changing treatments for AUD, providing hope for those for whom the status quo is not working,” saif the chief executive of Awakn, Anthony Tennyson.