17.5 MEUR blended funding from EIC
PharmNovo is very pleased to announce that we have been awarded a 2.5 MEUR 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.
17.5 MEUR blended funding from EIC
PharmNovo is very pleased to announce that we have been awarded a 2.5 MEUR 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.
Latest news
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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.
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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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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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