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.
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.
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’s Clinical Trial Unit and is supported by a public-private funding partnership.
The UK’s 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 £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.
“The completion of the Awakn acquisition marks a transformative milestone for Solvonis,” said Anthony Tennyson, CEO of Solvonis.
“The 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.
“The 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.
“We 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.”
The deal price is undisclosed.