
Solvonis CEO says Awakn shareholder approval of acquisition is a 'great endorsement'
4/23/2025
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Solvonis Therapeutics PLC CEO Anthony Tennyson talked with Proactive's Stephen Gunnion about the proposed acquisition of Awakn Life Sciences following strong shareholder approval. Over 99% of Awakn’s shareholders voted in favour of the transaction, which Tennyson described as a “great endorsement” of the strategic fit and potential of combining the two companies.
Solvonis is acquiring Awakn for around £5 million in an all-stock transaction. The deal includes two key clinical-stage programs. The lead candidate, AWKN-001, targets severe AUD in the UK and EU markets. It is currently in phase three trials. According to Tennyson, “People coming on to that trial were sober seven days a year. Those who went through the active arm... achieved on average 86% sobriety in the six months post-treatment.” PharmaVentures, which is advising on the deal, has suggested the asset could potentially deliver up to £60 million in milestone payments and generate double-digit royalties.
A second program, AWKN-002, aimed at the US market, is in phase 2B planning and may yield up to £150 million in similar payments if successful. The acquisition is seen as a key step in establishing Solvonis as a UK-based biotech focused on addiction and mental health.
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#SolvonisTherapeutics #AwaknAcquisition #AlcoholUseDisorder #MentalHealthTreatment #BiotechInvesting #ClinicalTrials #AWKN001 #AddictionRecovery #PharmaVentures #InvestorNews
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