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Solvonis shares jumps as touts positive results at PTSD therapy trials

ALN

Solvonis Therapeutics PLC on Tuesday reported positive results from pre-clinical screening of a therapy for post-traumatic stress disorder.

Shares in the London-based pharmaceutical company closed up 14% at 0.37 pence in London on Tuesday afternoon. The stock has risen 76% over the past year.

Results from screening in its SVN-SDN-14 programme has identified three high-performing candidates to advance into in vivo studies.

The SVN-SDN-14 series is a novel class of serotonin, dopamine and noradrenaline modulators designed to enhance pro-social behaviour and improve therapeutic outcomes for those suffering from PTSD, Solvonis explained.

The company estimates more than 20 million people across the UK, US and main EU markets are affected by PTSD.

‘In-vitro screening for [serotonin], [dopamine], and [noradrenaline] modulation activity identified three of six synthesised candidates with robust, balanced modulation profiles across all three neurotransmitter systems. These are precisely the mechanistic attributes the programme is targeting to deliver a new class of medicine for trauma-related mental health conditions such as PTSD,’ Solvonis said.

The firm had previously expected selecting a single lead candidate at this stage, but due to their positive performances, three shortlisted candidates will now progress to the final stage of the current work package - in vivo preclinical studies.

‘These results represent an important step forward for the programme. Having three high-performing candidates at this stage, rather than a single clear lead, provides us with greater flexibility and a stronger position from which to select the most promising option for PTSD,’ said Chief Executive Officer Anthony Tennyson.

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