Solvonis Therapeutics (LSE:SVNS) has conditionally raised gross proceeds of £1.3 million through a placing of 1.08 billion new shares at £0.0012 each, a discount of approximately 14% to the prior closing price of £0.0014.
The London-listed company develops small-molecule therapeutics for central nervous system disorders, and the raise draws in new institutional investors alongside existing backers.
Net proceeds, combined with existing resources, will fund three priority programmes: assessing the addition of European Union sites to the ongoing SVN-001 Phase 3 study in severe alcohol use disorder, advancing SVN-002 toward a US Investigational New Drug submission and Phase 2b readiness following positive pharmacokinetic bridging data reported in June, and supporting programme-management work on SVN-015 as it advances through the US National Institute on Drug Abuse's Addiction Treatment Discovery Program.
"This fundraising supports clear next steps across our three priority programmes," said chief executive Anthony Tennyson, adding that the board views the new institutional capital as important as Solvonis broadens engagement with UK investors.
News Intelligence what this means for the company
Solvonis raised £1.3m at a 14% discount to fund three CNS programmes: expanding SVN-001's Phase 3 trial in severe alcohol use disorder to EU sites, advancing SVN-002 toward US IND submission and Phase 2b readiness, and supporting SVN-015 under the NIDA Addiction Treatment Discovery Program. The placing drew new institutional investors and installed Turner Pope as the new corporate broker. This capital injection follows positive pharmacokinetic bridging data for SVN-002 reported in June, which had determined the path to IND submission.
The raise provides near-term runway for three clinical milestones but at a 14% discount, diluting existing shareholders. As a pre-revenue clinical-stage company, Solvonis remains entirely dependent on external financing and regulatory progress; the capital extends the runway but does not alter the binary risk profile of early-stage drug development.
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