SOLVONIS THERAPEUTICS PLC

• ⚠

  Material uncertainty over going concern

  After due consideration of all the factors, the Directors consider that the Group will have adequate financial resources to continue in operational existence for the foreseeable future (being a period of at least 12 months from the date of this report) and, for this reason, the financial statements have been prepared on a going concern basis. ... As a result the auditors have included a material uncertainty relating to going concern within their audit report as is common amongst 'pre-revenue' companies.

1. SOLVONIS THERAPEUTICS PLC 2025-01-10 → present
2. GRAFT POLYMER (UK) PLC 2021-07-01 → 2025-01-10
3. GRAFT POLYMER (UK) LIMITED 2017-05-18 → 2021-07-01

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Kreston Reeves LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“After due consideration of all the factors, the Directors consider that the Group will have adequate financial resources to continue in operational existence for the foreseeable future (being a period of at least 12 months from the date of this report) and, for this reason, the financial statements have been prepared on a going concern basis. ... As a result the auditors have included a material uncertainty relating to going concern within their audit report as is common amongst 'pre-revenue' companies.”

Group structure

1. SOLVONIS THERAPEUTICS PLC · parent
   1. Graft Polymer IP Limited 1% · England and Wales · Intellectual property
   2. GRAFTBIO Limited 1% · England and Wales · Bio-Polymer development and production

Significant events

• “Appointment of new Chief Executive Officer Anthony Tennyson”
• “Completion of re-capitalisation and fundraise”
• “Divestment of Slovenian manufacturing facility”
• “Arrangement agreement with Awakn Life Sciences”
• “On 6 January 2025, the Company held a general meeting where it proposed and subsequently approved a change of name from Graft Polymer (UK) Plc to Solvonis Therapeutics Plc.”
• “On 24 February 2025, entered into an arrangement agreement with Awakn Life Sciences Corp. setting out the basis on which the parties will cooperate to execute a transaction whereby Solvonis will acquire all issued and outstanding common shares in the capital of Awakn...”
• “On 11 March 2025, the Company appointed Dr Renata Crome to the Board of Directors.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

5

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -100%

  £587,000 → £0

• Cash

  +388.4%

  £155,000 → £757,000

• Net assets

  +52.2%

  £2,026,000 → £3,084,000

• Employees

  -57.1%

  7 → 3

• Operating profit

  +55.6%

  -£3,117,000 → -£1,383,000

• Profit before tax

  +53.6%

  -£3,120,000 → -£1,447,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers