Solvonis Therapeutics PLC (LSE:SVNS) said the first half of 2025 had been one of “significant progress” for the company, marking a transformation in its scale and ambitions.
The biotechnology group, which is focused on treatments for mental health and central nervous system disorders, completed the acquisition of Awakn Life Sciences during the period, a move it described as a pivotal step that broadened its pipeline, strengthened its team and accelerated its growth strategy.
With the integration of Awakn under way, Solvonis now has a portfolio of programmes at different stages of development.
These include SVN-001 for alcohol use disorder, SVN-002, which is preparing for its next clinical trial in the United States, and SVN-SDN-014, an AI-discovered preclinical drug candidate aimed at post-traumatic stress disorder.
The company said its focus remained on hitting key clinical and regulatory milestones, advancing its discovery platform and building credibility as a partner for larger pharmaceutical groups in central nervous system disorders.
At the end of June, Solvonis reported cash of £1.7 million, up from just £27,000 a year earlier, helped by the Awakn deal.
Net assets more than doubled to £6.9 million from £3.1 million at the end of December. Losses widened to £1.6 million, compared with £469,000 in the first half of last year, reflecting greater investment in research and development.
Solvonis said it believed the company was well placed to deliver value both for patients and shareholders as it builds momentum.