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Psychedelics Briefs: Freedom Biosciences, Awakn, Revitalist
Freedom Biosciences Raises $10.5 Million in Seed Financing
Freedom Biosciences, a clinical-stage biotech firm that develops ketamine and psychedelic therapeutics, announced on Tuesday that it has emerged from stealth with $10.5 million in seed financing. MBX Capital led the funding round and was joined by several other investors, including PsyMed Ventures, Village Global, and The Yale Startup.
Freedom Biosciences said in a news release that funds raised will help the company advance its lead ketamine program and further other exploratory programs.
Freedom Biosciences was cofounded in 2021 by John Krystal, MD, chair of Yale University’s Department of Psychiatry, and Dina Burkitbayeva, cofounder of PsyMed Ventures. Burkitbayeva now serves as Freedom Biosciences’ CEO.
Awakn Partners With Revitalist to Deliver Ketamine-Assisted Therapy for AUD
Awakn Life Sciences, a biotech company that researches, develops, and commercializes therapeutics to treat addiction with a near-term focus on alcohol use disorder, announced that it has signed a licensing agreement with Revitalist Lifestyle and Wellness, operator of a network of ketamine wellness clinics. The deal will allow Revitalist to treat clients with Awakn’s proprietary ketamine-assisted therapy for alcohol use disorder.
Awakn will provide access to its therapeutics and training to Revitalist practitioners. In return, Revitalist will pay Awakn an annual fee and a revenue share per treatment.
The licensing partnership is a first for Awakn, and it expands the Toronto-based company’s commercial operations into the United States.
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