An announcement from Graft Polymer (UK) PLC ( (GB:SVNS) ) is now available.
Solvonis Therapeutics plc has announced the posting of a Circular to its shareholders, detailing plans for a proposed acquisition of Awakn Life Sciences Corp. The acquisition aims to expand Solvonis’ capabilities in the biotechnology sector, particularly in developing therapeutics for mental health and substance use disorders. The company is seeking shareholder approval to issue shares for the acquisition and to raise necessary funds to support the enlarged group’s working capital needs. The acquisition, if successful, is expected to enhance Solvonis’ market position and provide significant growth opportunities, while failure to proceed could result in a termination fee.
More about Graft Polymer (UK) PLC
Solvonis Therapeutics plc is an innovative biotechnology company focused on developing intellectual property and co-developing therapeutics for mental health and substance use disorders. The company aims to improve outcomes for individuals suffering from mental health disorders, with a particular focus on trauma-related conditions such as PTSD, which affects millions in the U.S., UK, and key EU markets.
YTD Price Performance: -17.50%
Average Trading Volume: 11,804,617
Technical Sentiment Signal: Strong Buy
Current Market Cap: £3.79M
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