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LONDON - Solvonis Therapeutics plc (LSE:SVNS) announced Friday that all resolutions proposed at its Annual General Meeting were approved by shareholders, following the company’s recent acquisition of Awakn Life Sciences completed on May 28.
The clinical-stage biopharmaceutical company, which develops treatments for addiction and mental health disorders, reported strong shareholder support across all voting items, with approval rates exceeding 99% for most resolutions.
CEO Anthony Tennyson stated the company is now "strategically positioned to lead in transforming the treatment landscape for substance use and treatment-resistant mental health disorders across Europe and beyond."
Following the acquisition, Solvonis has integrated a pipeline of preclinical and clinical-stage assets targeting alcohol use disorder, post-traumatic stress disorder, and other neuropsychiatric conditions. The company’s lead candidate, SVN-001, is being prepared for Phase 3 readiness.
The company reported that integration activities are proceeding according to plan, with emphasis on operational efficiency and disciplined capital deployment. Solvonis continues to operate under a virtual biotech model with a network of collaborators and contract research organizations.
The board indicated it remains focused on building a "capital-efficient, data-driven, and licensing-led business" aimed at delivering therapeutic advances for patients.
This article is based on information from a company press release statement.
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