Clinical-stage BioTech Solvonis has acquired Toronto-based Awakn, expanding its research and development pipeline.
London-based Solvonis, which is focused on developing innovative medicines for the treatment of addiction and mental health disorders, is focused on alcohol use disorder (AUD) and post-traumatic stress disorder (PTSD) treatments in the short-term.聽
The acquisition brings new therapies into its pipeline, including SVNS-001 (previously AWKN-001), a new therapy for severe AUD which combines ketamine delivered by an IV and a specialised form of cognitive behavioural therapy designed to prevent relapse.聽
The therapy is currently being tested in a Phase 3 clinical trial across eight NHS Trusts in the UK.
This trial is being conducted by the University of Exeter鈥檚 Clinical Trial Unit and is supported by a public-private funding partnership.聽
The UK鈥檚 Medical Research Council (MRC) and the National Institute for Health and Care Research (NIHR) are co-funding the study alongside Solvonis, whose financial commitment is capped at 拢800,000.
Launched in the third quarter of 2024, the trial is expected to conclude in late 2026 or early 2027, potentially paving the way for a new, evidence-based treatment option for individuals struggling with severe AUD in the UK and Europe.
鈥淭he completion of the Awakn acquisition marks a transformative milestone for Solvonis,鈥� said Anthony Tennyson, CEO of Solvonis.
鈥淭he acquisition of Awakn significantly enhances our position as a leading clinical-stage platform developing evidence-based, innovative treatments for patients suffering from addiction and mental health disorders.
鈥淭he addition of Awakn’s assets expands and accelerates our R&D pipeline. In the near term, we are focused on Alcohol Use Disorder and Post-Traumatic Stress Disorder – two high-burden conditions with significant unmet medical needs and few effective treatment options.聽
鈥淲e are excited to take this next step in our journey and look forward to advancing our late-stage and pre-clinical programmes with strong scientific and commercial momentum.鈥�
The deal price is undisclosed.