Solvonis secures exclusive CNS collaboration

Solvonis secures exclusive CNS collaboration with CSO Professor David Nutt, establishes Scientific Advisory Committee and Issue of Equity

Solvonis Therapeutics plc (LSE: SVNS), a clinical-stage biopharmaceutical company developing novel medicines for addiction and mental health disorders, is delighted to announce amendments to its consultancy agreement with Professor David Nutt, the Company's Chief Scientific Officer. Under the revised terms, Professor Nutt will increase his commitment to Solvonis, serve as Interim Chair of the newly established Scientific Advisory Committee ("SAC"), and work exclusively with the Company in the field of commercial drug discovery and development for CNS disorders.

Professor Nutt is one of the world's foremost authorities in neuropsychopharmacology, with more than 600 peer-reviewed publications and a career spanning over four decades. He holds the Edmond J. Safra Chair in Neuropsychopharmacology at Imperial College London, has chaired the UK Advisory Council on the Misuse of Drugs, and has served as President of the European College of Neuropsychopharmacology, the British Neuroscience Association, and the British Association of Psychopharmacology. His pioneering research has advanced both the scientific understanding and clinical treatment of a wide range of brain disorders.

The amendments to the agreement mark three important developments for Solvonis:

• Expanded commitment - Professor Nutt's role increases to two days per week (40% FTE).
• Exclusive collaboration - his commercial CNS drug discovery and development expertise will be applied solely to Solvonis' programmes.
• Strengthened governance - as Interim Chair of the SAC, Professor Nutt will convene leading international experts to provide independent oversight and recommendations directly to the Board.

Anthony Tennyson, CEO of Solvonis, commented: "Professor David Nutt's leadership has already been central to shaping Solvonis' pipeline. By securing his exclusive collaboration in CNS drug discovery and development, and establishing our Scientific Advisory Committee under his chairmanship, we are embedding world-class expertise into both our science and our governance. This strengthens Solvonis' position as a company uniquely focused on translating cutting-edge neuroscience into innovative therapies for CNS disorders."

Professor David Nutt, CSO of Solvonis, added: "I am delighted to deepen my commitment to Solvonis at such an exciting stage in its growth. By focusing my commercial CNS drug development work exclusively with Solvonis and chairing the new Scientific Advisory Committee, I look forward to helping shape the Company's scientific strategy and ensuring our programmes are guided by the highest standards of innovation and rigour. Solvonis has the potential to make a real impact across the CNS field, and I am proud to be part of that mission."

Issue of Equity in Lieu of Fees

The Company has also agreed with certain creditors to settle outstanding liabilities relating to services historically delivered to the Company amounting to £286,681 through the issue of 141,875,231 new ordinary shares of £0.0001 each. This comprises: (i) 81,732,308 shares at an issue price of £0.0013 and 60,142,923 shares at an issue price of £0.003. Application will be made for the new ordinary shares to be admitted to trading on the Main Market of the London Stock Exchange, with Admission expected to occur on or around 3rd September. The new shares will rank pari passu in all respects with the existing ordinary shares. Following Admission, the Company's issued share capital will comprise 6,403,979,255 ordinary shares, each carrying one voting right.