Awakn Partners with the University of Nottingham for in Vivo Testing of Aminoindane New Chemical Entity (NCE) Pre-Clinical Program

Toronto, Ontario--(Newsfile Corp. - October 15, 2024) - Awakn Life Sciences Corp. (CSE: AWKN) (OTCQB: AWKNF) (FSE: 954) ("Awakn" or the "Company"), a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, announces a new research partnership with the University of Nottingham, UK. This collaboration focuses on evaluating Awakn's co-lead aminoindane series and its potential to enhance social cognition and pro-social behaviors.

The study will be led by Dr. Madeleine King, Assistant Professor in the School of Life Sciences in the Faculty of Medicine & Health Sciences at the University of Nottingham, a globally recognized institution for its cutting-edge neuroscience research. Dr. King, an expert in behavioral neuroscience with over 20 years of experience, is renowned for her contributions to translational research in psychiatric disorders. The study will use the Social Transmission of Food Preferences (STFP) test in rodent models. Conducted over a two-month period, the preclinical trials will explore varying dosages, with results expected by the end of 2024.

Awakn's aminoindane NCE program, developed in collaboration with Graft Polymer (UK) Plc, focuses on creating new therapeutic options for trauma-related mental health disorders, particularly PTSD. PTSD affects approximately 13 million adults in the U.S. and 20 million individuals across the U.S., UK, and Europe. This partnership, originally announced on July 18, 2024, builds on Awakn's commitment to addressing these urgent medical needs.

This progress follows Awakn's recent partnership with Eurofins Discovery for in vitro pharmacology testing of the same aminoindane series. The selection of Eurofins marked a critical milestone, and this next phase with the University of Nottingham underscores Awakn's rapid advancements in developing next-generation treatments for mental health disorders.

Anthony Tennyson, CEO of Awakn Life Sciences, stated: "This is a pivotal step forward in our Aminoindane NCE program. We believe this novel aminoindane has the potential to revolutionize mental health treatment, offering a safer alternative for trauma-related mental health disorders such as PTSD. Our collaboration with the University of Nottingham reinforces our commitment to advancing science-backed, life-changing therapies."

Dr King, from the School of Life Sciences at the University of Nottingham said: "I'm delighted that Awakn Life Sciences have chosen to collaborate with the University of Nottingham. I'm excited to be involved in this research, which has real potential to improve patient health."

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US and approximately 40 million in the US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.

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About the University of Nottingham

Ranked 32 in Europe and 16th in the UK by the QS World University Rankings: Europe 2024, the University of Nottingham is a founding member of Russell Group of research-intensive universities. Studying at the University of Nottingham is a life-changing experience, and we pride ourselves on unlocking the potential of our students. We have a pioneering spirit, expressed in the vision of our founder Sir Jesse Boot, which has seen us lead the way in establishing campuses in China and Malaysia - part of a globally connected network of education, research and industrial engagement.

Nottingham was crowned Sports University of the Year by The Times and Sunday Times Good University Guide 2024 - the third time is has been given the honour since 2018 - and by the Daily Mail University Guide 2024.

The University is among the best universities in the UK for the strength of our research, positioned seventh for research power in the UK according to REF 2021. The birthplace of discoveries such as MRI and ibuprofen, our innovations transform lives and tackle global problems such as sustainable food supplies, ending modern slavery, developing greener transport, and reducing reliance on fossil fuels.

The University is a major employer and industry partner - locally and globally - and our graduates are the second most targeted by the UK's top employers, according to The Graduate Market in 2022 report by High Fliers Research.

We lead the Universities for Nottingham initiative, in partnership with Nottingham Trent University, a pioneering collaboration between the city's two world-class institutions to improve levels of prosperity, opportunity, sustainability, health and wellbeing for residents in the city and region we are proud to call home.

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR at www.sedarplus.ca. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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