Awakn Life Sciences

What Awakn Life Sciences does

Awakn Life Sciences is a Toronto-headquartered, publicly listed (otcqb:AWKNF) clinical services company that operates and develops ketamine-assisted psychotherapy clinics for patients with treatment-resistant mental health conditions, notably treatment-resistant depression. Founded in 2020 with a disclosed headcount of 1-10 employees, the company combines ketamine administration with psychotherapy delivered by qualified physicians, using proprietary clinical protocols as its core differentiator.

The company's commercial footprint is anchored by Awakn Clinics Oslo AS, launched in October 2021 through the acquisition of Norway-based Axonklinikken AS, which serves as its platform for Nordic and broader European expansion. The acquisition consideration was structured as a combination of share issuance and milestone-based payments, and the clinic is led by Dr. Lowan Stewart. The company's stated go-to-market is direct-to-patient via owned clinic facilities, with revenue generated from professional services (clinical treatment delivery) rather than product sales. Marketing and pricing models are not publicly disclosed.

Between 2021 and 2024, Awakn raised approximately $12.7M across multiple rounds, with the largest being a $6.85M Negev Capital-led round in June 2021 and subsequent smaller raises from Mystic Ventures (2023), the National Institute for Health and Care Research (2022), and TD Veen (2022). Leadership includes Dennis Purcell (CEO), Anthony Tennyson (CEO and co-founder), Jonathan Held (co-founder and CFO), and Shaun McNulty (CSO). The company operates within the global ketamine clinics market, projected at USD 2.6B in 2025 and USD 8.1B by 2034 at a 13.5% CAGR, with North America holding 46.5% and Europe 25.0% revenue share.

Name

Awakn Life Sciences

Website

https://awaknlifesciences.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Awakn Life Sciences is a publicly listed Canadian clinical services company that operates ketamine-assisted psychotherapy clinics, most notably Awakn Clinics Oslo AS in Norway, treating patients with treatment-resistant depression and related mental health conditions.

Ownership category

akta.pro rank

Product category

Mental Health Services

NAICS

Outpatient Mental Health and Substance Abuse Centers (621420), Offices of Physicians, Mental Health Specialists (621112), Offices of Mental Health Practitioners (except Physicians) (621330)

SIC

Services-Specialty Outpatient Facilities, Nec (8093), Services-Offices & Clinics Of Doctors Of Medicine (8011)

akta.pro primary industry

Behavioral Health Benefit Administration (MBHO Core) (HLAEAHAA)

Keywords

• Ketamine-assisted psychotherapy
• Treatment-resistant depression
• Psychedelic therapeutics
• Addiction treatment clinics
• Mental health services

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Clinical Services Revenue: Revenue generated from providing ketamine-assisted psychotherapy treatments to patients at clinic locations. The acquisition structure includes both share issuance and milestone-based payments.

Go-to-market motion2 records

Distribution channels1 record

Core offering

Awakn Life Sciences operates specialized clinical facilities that deliver ketamine-assisted psychotherapy to patients suffering from treatment-resistant depression, addiction, and other mental health conditions. The company's core service combines ketamine administration with structured psychotherapy sessions conducted by qualified physicians, including Dr. Lowan Stewart who leads clinic operations in Norway. Awakn has expanded its clinical footprint from the UK into the Nordic region through the 2021 acquisition of Norwegian ketamine clinic Axonklinikken AS, which was rebranded as Awakn Clinics Oslo AS.

Product overview

Awakn Life Sciences is a biotechnology company focused on developing and delivering psychedelic-assisted therapies for mental health conditions. The company operates ketamine-assisted psychotherapy clinics, having expanded into the Nordic region through the acquisition of Axonklinikken AS in Norway (2021). The company provides clinical treatment services for conditions such as addiction and treatment-resistant depression using ketamine-assisted psychotherapy protocols.

Differentiator

Problem solved

Functional benefit

Products and services

• Awakn Clinics Oslo AS Wholly-owned ketamine-assisted psychotherapy clinic in Oslo, Norway, launched as part of Awakn's Nordic region expansion following the acquisition of Axonklinikken AS in 2021. Provides ketamine-assisted psychotherapy to patients with treatment-resistant mental health conditions.
• Ketamine-Assisted Psychotherapy Treatment Core clinical service combining ketamine administration with psychotherapy sessions delivered by qualified physicians for patients with treatment-resistant depression, addiction, and other mental health conditions. Offered across Awakn's owned clinic network in the UK and Norway.

Quantifiable outcome

• Expansion into Nordic market completed via acquisition of existing ketamine clinic

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• Axonklinikken AScoreStrategic or Co-development Partner · 16 September 2021Acquisition of Axonklinikken AS, a ketamine-assisted psychotherapy clinic in Norway, as part of Awakn's expansion into the Nordic region. The deal includes issuing shares and milestone-based payments. Dr. Lowan Stewart, a leading ketamine physician, leads the new clinic operations.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Field Trip Health: Operated ketamine-assisted psychotherapy clinics for mental health conditions (including treatment-resistant depression) across North America and Europe. Closely comparable specialty clinic model targeting the same patient population with ketamine-based treatment protocols.
• Novamind (now subsidiary of Aurora Cannabis): Ran a network of outpatient mental health and ketamine clinics offering psychedelic-assisted psychotherapy. Direct competitor in the ketamine clinic space with a similar specialty outpatient model.
• Greenbrook TMS: Operates a national network of outpatient mental health clinics offering TMS and related neuromodulation therapies for depression. Comparable specialty outpatient clinic model targeting treatment-resistant depression patients.
• Delic Holdings (formerly Field Trip Health): Holding company focused on psychedelic wellness and ketamine clinics following the rebranding of Field Trip Health assets. Direct successor competitor in the ketamine-assisted psychotherapy clinic market.

Broad incumbents

• Compass Pathways: Clinical-stage psychedelic medicine company developing psilocybin therapy for treatment-resistant depression. Comparable in therapeutic focus (TRD, novel mechanisms) but operating in clinical trials rather than clinic delivery.
• MindMed: Clinical-stage psychedelic medicine company developing LSD and MDMA-based therapies for mental health. Comparable in psychedelic-assisted therapy focus and target indications (anxiety, depression, addiction) but operates in drug development rather than clinic services.
• Atai Life Sciences: Clinical-stage biopharmaceutical company developing psychedelic and other novel therapies for mental health conditions including depression and addiction. Comparable in psychedelic therapy pipeline targeting similar indications.

Emerging players

• Cerebral: Telehealth mental health platform offering medication management and therapy for depression and anxiety. Comparable in targeting mental health patients seeking alternative treatments, though delivered virtually rather than in-person.
• Bicycle Health: Virtual opioid use disorder treatment provider offering medication-assisted treatment via telemedicine. Comparable in novel mental health/addiction treatment delivery and direct-to-patient model, focused on addiction.
• Talkiatry: Telepsychiatry practice providing psychiatric evaluation, medication management, and therapy. Comparable in mental health medication management focus and outpatient delivery model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/awakn_ls
• Facebookfacebook.com/AwaknLifeSciences
• LinkedInlinkedin.com/company/awakn-life-sciences

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds7 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Awakn Life Sciences