Solvonis raises £1.3M to fund three clinical programmes
What's the deal? Solvonis TherapeuticsDealroom has a profile for this one. Try Dealroom →, a London-listed biopharmaceutical company developing treatments for addiction and psychiatric disorders, has raised £1.3 million through a share placing. It is issuing 1.08 billion new shares at 0.12p each, with a UK institutional investor joining its register for the first time.
What's the endgame? Proceeds will be spread across three programmes rather than concentrated on the lead asset. The first, SVN-001, combines intravenous ketamine with relapse-prevention therapy and is in a Phase 3 UK trial for severe alcohol use disorder.
Solvonis wants to add international trial sites, including in the EU, subject to regulatory and ethics approvals. Including EU patient data in the Phase 3 dataset could strengthen future regulatory submissions and commercial discussions in Europe, the company said.
Money will also fund SVN-002, an oral thin-film formulation of esketamine for supervised clinic use in the US. It is being advanced under the Food and Drug Administration's 505(b)(2) pathway, which lets developers rely partly on data from an approved reference product.
The third programme, SVN-015, is a discovery-stage compound targeting methamphetamine and cocaine use disorders. The National Institute on Drug Abuse selected it this month for further evaluation, though Solvonis stressed the support is not a cash grant and it retains ownership of the compound.
Why now? The raise follows recent milestones: positive pharmacokinetic data from a preclinical SVN-002 study in June, and the NIDA selection this month. Solvonis now wants to complete work needed for an Investigational New Drug application before US human trials can begin.
Turner Pope InvestmentsDealroom has a profile for this one. Try Dealroom → acted as sole bookrunner and has been appointed corporate broker, replacing Singer Capital MarketsDealroom has a profile for this one. Try Dealroom →.
The signal: Splitting a modest raise across three programmes signals a portfolio approach for a small-cap developer chasing addiction treatments — a field where drug options remain limited and regulatory pathways long.
Read more: proactiveinvestors.com
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