Solvonis Therapeutics PLC (LSE:SVNS) has completed a corporate overhaul aimed at simplifying its structure and sharpening its focus on developing new medicines for central nervous system disorders.
The London-listed company said it has consolidated its intellectual property under a single Irish holding company and set up new research and development subsidiaries in the UK, Ireland and the United States.
The changes, Solvonis said, create a “harmonised R&D framework” across its main operating regions.
As part of the shake-up, the group has sold a legacy subsidiary, Graft Polymer IP Ltd, to Slovenia-based Meta Medix for £1.
Solvonis said that before the sale, it had already transferred all key intellectual property to its new Irish holding company, meaning the disposal would have no financial or operational impact.
Two dormant entities in Ireland and Canada are also being wound down as part of a wider simplification drive following last year’s acquisition of Awakn Life Sciences’ European business.
Alongside the restructuring, Solvonis has settled £78,000 of historic liabilities through the issue of 26.6 million new shares priced at 0.33p each.
Of these, around 13.9 million shares will go to chief scientific officer Professor David Nutt in lieu of fees for past services. Admission of the new shares to trading on the London Stock Exchange is expected on 7 November.
The company has also awarded 180 million share options to chief executive Anthony Tennyson. The options, which were agreed when he joined in May 2024, are exercisable at 0.1p per share following the completion of milestones linked to Solvonis’s strategic restructuring.
The changes mark the end of Solvonis’s post-acquisition integration process, giving the biotech group a clearer ownership structure and a unified base for research across its three main markets.