Solvonis Therapeutics PLC (LSE:SVNS) has now completed its acquisition of Awakn Life Sciences.
The transaction covers multiple assets, including SVNS-001, a Phase 3 therapy for alcohol use disorder that combines ketamine with relapse prevention CBT and is being trialled across eight NHS Trusts, co-funded by UK research bodies and Solvonis.
Chief executive Anthony Tennyson described the completion as marking “a transformative milestone” for Solvonis.
“The acquisition of Awakn significantly enhances our position as a leading clinical-stage platform developing evidence-based, innovative treatments for patients suffering from addiction and mental health disorders,” Tennyson said in a statement.
“The addition of Awakn's assets expands and accelerates our R&D pipeline.
“In the near term, we are focused on alcohol use disorder and post-traumatic stress disorder - two high-burden conditions with significant unmet medical needs and few effective treatment options.
“We are excited to take this next step in our journey and look forward to advancing our late-stage and pre-clinical programmes with strong scientific and commercial momentum."