Targeting a huge and growing market

Targeting a large market with high growth

Among the worldwide adult population, up to 10 percent of people are said to be suffering from neuropathic pain at any one time.

The Global Pain Management Therapeutics Market is expected to grow to 77.3 billion EUR in 2025. North America accounts for the largest market share (approx. 40%) followed by Europe (approx. 26%)¹. The growth is driven by, among other things, aging populations with increasing prevalence of chronic disorders and favourable healthcare reforms.

The global market for neuropathic pain was valued at around EUR 7 billion in 2022 and is expected to reach over EUR 13 billion by 2033². Market growth is driven by an aging global population with increasing incidences of diseases that can cause nerve pain, including type 2 diabetes, cancer, and shingles. Other drivers include greater awareness of nerve pain among doctors as well as patients. The company’s primary indications – allodynia and hyperalgesia – affect about twenty-five per cent of people suffering from nerve pain

Market growth is driven by an ageing global population with an increasing prevalence of diseases that can cause neuropathic pain, including type 2- diabetes, cancer and shingles. Other driving forces are increased knowledge of neuropathic pain in both doctors and patients. The company's first indication is neuropathic pain characterized by allodynia , (pain produced by a normally innocuous stimulus) (extreme sensitivity to pain), which affects approximately 25% of neuropathic pain patients.

PharmNovo also sees clinical potential for PN6047 in other areas, such as post-surgical and cancer pain, migraine, pruritus (itch) and chronic cough.

Also addresses mood disorders

PharmNovo’s drug candidate PN6047 also addresses an associated problem: neuropathic pain patients frequently suffer from anxiety and depression, which exacerbates their pain and generates a vicious cycle of low mood and increasing pain. DOR agonists can attenuate both pain and the associated emotional disorders. which will have enormous market potential.

If PharmNovo’s DOR agonist PN6047 can attenuate pain and the associated emotional disorders, it will have enormous market potential. A new neuropathic pain medicine such as PN6047 would aid patients’ return to work, increase efficacy and reduce direct health service costs.

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¹ ZION Market Research. Global Pain Management Therapeutics Market 2016-2025.

² https://www.persistencemarketresearch.com/market-research/neuropathic-pain-market.asp

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Conclusion

Treatment of chronic pain is still a clearly unmet medical need.

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March 12, 2025

Positive FDA feedback for PN6047

PharmNovo has received positive and constructive feedback from the FDA for its lead drug candidate, PN6047, a selective delta opioid receptor agonist aimed at treating peripheral neuropathy with allodynia. Following a successful pre-IND meeting in January 2025, the FDA provided valuable guidance on the Phase IIa study design and had no critical comments on the CMC or non-clinical data. This paves the way for IND submission by the end of 2025 and a Phase IIa clinical trial application in Europe (Spain, Poland, Czech Republic) by Q3 2025.

Pioneering approach to treat neuropathic pain

February 26, 2025

Pioneering approach to treat neuropathic pain

PharmNovo has recently published an article in MedNous, highlighting the pioneering approach to tackling neuropathic pain without the risks traditionally associated with opioids. The lead candidate, PN6047, targets the delta-opioid receptor – offering pain relief without addiction or sedation. Arrangements for a Phase II trial have now been completed, marking a crucial step toward a safer alternative for millions suffering from chronic pain. With the opioid crisis still a major concern, innovative, non-addictive treatments like PN6047 are more urgent than ever.

PharmNovo live at neurology theme event at RedEye

October 25, 2024

PharmNovo live at neurology theme event at RedEye

Per von Mentzer, CEO, presented PN6047 at the Neurology Event at RedEye on October 23. Take the opportunity to listen to a very interesting live presentation and learn more about PN6047, the unique first-in-class phase II ready asset with break-through potential in treatment of neuropathic pain. PN6047 demonstrates safety and tolerability and a lack of the adverse effects commonly associated with conventional opioids. These findings suggest a promising path forward in the field of pain management.

October 10, 2024

PharmNovo at the LSX Nordic Congress

PharmNovo attended the LSX Nordic Congress in Copenhagen 8-9 October and Per von Mentzer, CEO presented PN6047, a unique first-in-class phase II ready asset with break-through potential in treatment of neuropathic pain. Being one of 68 companies that have recently been awarded by EIC for up to 17.5 MEUR (2.5 MEUR grant and up to 15 MEUR equity) from a total of 969 applicants is a strong validation of the potential of the phase II ready asset PN6047 and of PharmNovo. Take the opportunity to listen to the presentation here:

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