17.5m EUR blended funding from EIC
PharmNovo is very pleased to announce that we have been awarded a 2.5m EUR grant and an opportunity for up to 15m EUR equity investment from the European Innovation Council (EIC) for innovative pain treatment. The equity part being contingent on investments of equal amounts from co-investors.
From a total number of 969 companies that submitted a full proposal, 347 companies were interviewed by juries of experienced investors and entrepreneurs. We are among the 68 startups selected out of 969 applicants, judged on the criteria of excellence, impact and risk level.
This funding will support PharmNovo to advance PN6047 through a Phase IIa proof of concept (PoC) study. Demonstrating efficacy in this study would represent a major advance in neuropathic pain treatment, positioning PN6047 as the first-in-class drug in a new category of pain relief medications—delta opioid-biased receptor agonists (DOBRAs).
The lead drug candidate from PharmNovo, PN6047, offers a novel approach for treating neuropathic pain. Unlike conventional opioid drugs, PN6047 is a highly selective delta opioid receptor agonist (DORA) with a unique molecular structure that activates the G protein signaling pathway while avoiding unwanted side effects such as analgesic tolerance and proconvulsant activity.
The support from Horizon Europe will be crucial in advancing our clinical trials and bringing this much-needed pain relief solution to patients.
17.5m EUR blended funding from EIC
PharmNovo is very pleased to announce that we have been awarded a 2.5m EUR grant and an opportunity for up to 15m EUR equity investment from the European Innovation Council (EIC) for innovative pain treatment. The equity part being contingent on investments of equal amounts from co-investors.
From a total number of 969 companies that submitted a full proposal, 347 companies were interviewed by juries of experienced investors and entrepreneurs. We are among the 68 startups selected out of 969 applicants, judged on the criteria of excellence, impact and risk level.
This funding will support PharmNovo to advance PN6047 through a Phase IIa proof of concept (PoC) study. Demonstrating efficacy in this study would represent a major advance in neuropathic pain treatment, positioning PN6047 as the first-in-class drug in a new category of pain relief medications—delta opioid-biased receptor agonists (DOBRAs).
The lead drug candidate from PharmNovo, PN6047, offers a novel approach for treating neuropathic pain. Unlike conventional opioid drugs, PN6047 is a highly selective delta opioid receptor agonist (DORA) with a unique molecular structure that activates the G protein signaling pathway while avoiding unwanted side effects such as analgesic tolerance and proconvulsant activity.
The support from Horizon Europe will be crucial in advancing our clinical trials and bringing this much-needed pain relief solution to patients.
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PharmNovo presenting at the Global Forum
On May 29–30, BioStock hosted the Global Forum. The event is the first of its kind, aimed at bringing together growth stage Nordic life science companies looking to expand into new markets and experts armed with a profound knowledge of how business is done across the globe.
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Positive final Phase I results
The final results from the Phase I clinical for our neuropathic pain drug candidate PN6047, demonstrates safety and tolerability and a lack of the adverse effects commonly associated with conventional opioids. The findings from the Phase I trial show that PN6047 is safe and well-tolerated at the doses tested, with no serious adverse events reported.
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Meet Bengt von Mentzer, founder and Chief scientific advisor
Bengt von Mentzer founded PharmNovo 16 years ago, and today, his visionary approach and scientific process still drive the development of the groundbreaking compound PN6047. At the intersection of innovation and scientific leadership, Bengt von Mentzer is paving the way for how to reshape the landscape of chronic pain treatment.
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