Solvonis Therapeutics Raises GBP1 Million from Share Offering

03:25 AM EDT, 08/25/2026 (MT Newswires) -- Solvonis Therapeutics (SVNS.L) raised 1.3 million pounds sterling from the placement of 1,083,333,333 new ordinary shares. The late-stage clinical biopharmaceutical company will also issue 10 million new shares at 0.0015 pound apiece as payment for 15,000 pounds of fees related to the offering, according to a Tuesday filing. The company intends to use net proceeds from the offering primarily for the assessment of potential additional sites for the ongoing SVN-001 phase 3 study, preparation of an investigational new drug application and phase 2b trial in the US for SVN-002, and the advancement of SVN-015 alongside the US National Institute on Drug Abuse. Remaining proceeds are earmarked for general working capital use and other expenses.