NYC-based clinics brand Nushama has partnered with Awakn Life Sciences (OTCQB:AWKNF), a clinical-stage psychedelics biotech company to bring Awakn’s advanced ketamine-assisted therapy treatment for AUD to Nushama’s New York clinics. They intend to provide sustained relief from depression, anxiety, chronic pain, addiction and trauma-induced mood disorders with high-dose IV Ketamine.
This is the first time the KARE (Ketamine for Reduction of Alcoholic Relapse) protocol is being offered in New York City medical facilities. Nushama's co-founder and president Richard Meloff is optimistic about the new collaboration’s ability to deliver positive outcomes for patients in need of treatment: 2022 numbers show 63.3% of excessive alcohol use deaths are from chronic causes -such as Alcohol Use Disorder.
Replying to Benzinga's inquiry on what changes the implementation of the KARE program produce in relation to the company’s existing psychedelic treatments, Meloff explained that while KARE will specifically be used for people with a primary diagnosis of AUD, all other diagnoses (depression, anxiety, PTSD) will continue to be treated with Nushama’s six-week ketamine-assisted therapy protocol coupled with preparation and integration therapy.
“This is truly breaking new ground in the treatment of AUD. As it is well documented, relapse rates for traditional inpatient alcohol rehab are very high. In addition, such programs are extremely expensive. With this new evidence-based approach, patients can continue their normal lives through Nushama’s outpatient program in a relatively cost-effective way," Meloff said.
Awakn's co-founder and CEO Anthony Tennyson exclusively shared with Benzinga that both companies will work together towards delivering a more efficacious and cost-effective treatment to those in need in New York and the Northeast.
“The KARE protocol will be implemented following the model at Awakn’s European clinics. Our model, which was developed in the only Phase II ab trial for ketamine-assisted therapy to treat AUD, is the same as what Nushama will be delivering in their clinics following Awakn's full training and ongoing support to our licensed partners' staff,” Tennyson explained.
Indeed, KARE is the only therapeutics package for ketamine and therapy validated in a clinical trial and has been proven to be more effective than any other addiction treatment currently available. Led by world-renowned ketamine expert Professor Celia Morgan along with Awakn’s team of experts including Dr. Ben Sessa and Professor David Nutt, trial results showed 86% abstinence at six months post-treatment -compared with an average 2% abstinence rate pre-treatment.
AUD is a devastatingly serious condition affecting an estimated 285 million people globally. In the US, only 8% of the total 14 million people suffering from this condition seek treatment, and 75% of them relapse within the first 12 months.
“The 14,000 addiction treatment clinics in the US provide therapy with an average 25% of success rate. Our partnerships with Nushama, Revitalist, Wellbeings, and others in due course will help provide access to a treatment that is proven to be more effective than the current standard of care at a potentially lower price point,” Tennyson told Benzinga.
Another important aspect of this partnership involves its costs. Traditional AUD rehabilitation centers across the US range from $20,000 to $65,000 per month, while starting at $50,000 in NYC. In this scenario, the Awakn protocol at Nushama stands out with a one-time fee of $12,500 and by providing superior efficacy rates in turn.
Tennyson, an experienced financial services industry executive, further disclosed to Benzinga: “Our goal as a company is to provide access to effective treatments for Alcohol Use Disorder at affordable prices in our clinics in the UK and Europe and under license in third party clinics in the US and Canada," Tennyson explained. "The partnership with Nushama helps us achieve that goal by providing access to a treatment for AUD that is 3.4 times more effective than the current standard of care at a lower price point to individuals, families and communities in a key U.S. and global cities.”
Photo courtesy of Nushama.
