Solvonis Therapeutics PLC (LSE:SVNS) has secured £1.25 million in new funding to accelerate its drug development programmes targeting central nervous system (CNS) disorders.
The capital was raised via a direct share subscription from institutional and strategic investors at £0.0033 per share, a 13% discount to the mid-market close on 15 October.
The proceeds will support Solvonis’ newly expanded focus across three key areas of CNS research: addiction, psychiatry, and neurology.
The company said the new investment will allow it to push forward with clinical and pre-clinical studies, enhance its drug-discovery efforts, and strengthen internal research capabilities.
Chief executive Anthony Tennyson said: “This financing marks an important time for Solvonis as we evolve into a broader CNS biopharmaceutical company. Our focus now spans addiction, psychiatry, and neurology — three interlinked areas of enormous unmet need.”
The company’s approach blends computational chemistry and predictive modelling with lab-based testing to identify new small-molecule drug candidates. The new funding, together with existing resources, will also support deeper exploration of novel biological targets and mechanisms.
Tennyson added that the backing from core investors strengthens Solvonis’ ability to deliver therapies for complex, high-burden conditions and positions the company for further growth in the CNS drug development space.