Solvonis Therapeutics CEO discusses £2mln raise to complete Awakn acquisition and progress programs

Proactive - Interviews for investors

Solvonis Therapeutics PLC CEO Anthony Tennyson talked with Proactive's Stephen Gunnion about the company’s £2 million raise and its strategic plan to acquire Awakn Life Sciences. This acquisition will enable Solvonis to create a UK-based, LSE-listed biotech focused on developing treatments for addiction and mental health disorders, which Tennyson identified as among the largest unmet medical needs. Post-acquisition, the company will prioritise severe alcohol use disorder (AUD) and post-traumatic stress disorder (PTSD). Tennyson highlighted the commercial potential of tackling AUD, noting the current poor standard of care and limited innovation over the past two decades. “75% of people typically relapse within 12 months post treatment,” he said. The lead program, referred to as AWKN-001, is currently in phase three trials. According to Tennyson, previous phase two results showed participants increasing sobriety from just 2% of the time to 86% in the six months post-treatment. The UK Department of Health, recognising the promise of the therapy, is co-funding the phase three trial through the Medical Research Council, with trials being run within the NHS. The raise also received support from Awakn and Solvonis shareholders and board members, which Tennyson described as a strong validation of the company’s direction. For more updates from Proactive, like this video, subscribe to our channel and turn on notifications. #SolvonisTherapeutics #AnthonyTennyson #AlcoholAddictionTreatment #MentalHealthInnovation #BiotechInvestment #AwaknLifeSciences #AUDTreatment #NHSResearch #ClinicalTrials #AddictionRecovery #UKBiotech