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Big Pharma focus on neurology and pain
PharmNovo is a pharmaceutical company at the clinical stage of developing a unique type of treatment for neuropathic pain, a condition currently lacking effective and safe treatment.
Neuropathic pain affects almost 10% of the population in Europe and the US and can have a highly detrimental effect on people’s quality of life.
The company's drug candidate, PN6047, effectively reduces neuropathic pain in animal models with a unique mode of action without the severe side effects associated with traditional treatments.
New type of drug with first-in-class potential
THE PharmNovo drug candidate binds specifically to a receptor that is important in neuropathic pain, and it is expected to provide both safe and effective relief. The candidate has the potential to become a first-in-class medicine.
The company's drug candidate, PN6047, about to enter Phase II proof-of-concept studies, has effectively reduced neuropathic pain in animal models in pre-clinical studies.
Pre-clinical and clinical proof of concept
PharmNovo has FINALISED the clinical Phase I study where safety and dosage have been studied in healthy individuals.
72 people have tested the drug without any serious side effects. The company has also conducted animal testing showing that the candidate effectively relieves neuropathic pain without causing the negative side effects commonly associated with other prescribed drugs.
PharmNovo has identified a dosage that is expected to be safe yet sufficient to achieve pain relief and is about to enter clinical Phase II studies. The company has also prepared a trial design and is currently in the process of deciding where the trial is to be conducted in collaboration with an international contract research company that will be contracted for the study. The trial is expected to start in the Q3 of 2026.
Experienced and dedicated team
The PharmNovo team has extensive experience in drug development, from early research to clinical development. The company’s founder, Dr. Bengt von Mentzer, has helped bring new drugs to clinical use and market during his thirty-plus years at AstraZeneca. Prof. David Kendall, CSO, is a prominent researcher in the field of pharmacology with a focus on, among other things, pain. Jesper Kjerulff, COO and global project lead, brings over twenty years of experience from the pharmaceutical industry. The company’s CEO has extensive experience in executive management, and the company also has an international network of leading expert advisors and consultants in various fields.
Sizeable high-growth market
The global market for neuropathic pain was valued at around 7 bEUR in 2022 and is expected to reach over 13 bEUR by 2033. Market growth is driven by an ageing global population with increasing incidences of diseases that can cause neuropathic pain, including Type 2 diabetes, cancer, and shingles. Other drivers include greater awareness of neuropathic pain among doctors and patients. The company’s primary indications – allodynia and hyperalgesia – affect about 25% of people suffering from neuropathic pain.
Exit strategy
Following a successful phase II trial, it is likely that a larger global pharmaceutical company will acquire the company as neuropathic pain accounts for almost 10% of the total market for pain medication and there is a great medical need that existing treatments cannot meet.
Several global companies active within pain or neurology have a history of acquiring companies with candidates matching their product portfolios, including Pfizer, Eli Lilly, Novartis, and Johnson & Johnson. For example, Eli Lilly entered into a licensing agreement with Confo Therapeutics worth 586 mEUR (cash and milestone payment) in Phase I in 2023. Eli Lilly also acquired Acquire Disarm Therapeutics for 1.26 bEUR (cash and milestone payment) in the late preclinical phase in 2020. Both companies are developing candidates for different types of neuropathic pain.
More information:
are you interested in learning more about PharmNovo, exploring investment opportunities or considering a partnership with us, please get in touch with Per von Mentzer, CEO.
Email: per.von.mentzer@pharmnovo.se
Phone: +46 (0)705 44 32 50
