22 MSEK new funding
PharmNovo AB has completed a new share issue of 22 million SEK with the Sciety investment syndicate as the lead investor. Almi Invest and existing shareholders also participated. The new capital will be used to finance production of PharmNovo’s lead drug candidate PN6047 and for regulatory toxicology testing.
CEO Per von Mentzer commented:
“We are very pleased with the successful closing of the investment round and the collaboration with Sciety. We welcome our new shareholders and thank them and existing shareholders for their trust in us and their confidence in the potential for PN6047. In particular Almi Invest, who invested 6.5 MSEK. The new capital will enable the necessary steps in the development of PN6047 into a novel treatment for millions of people suffering from chronic pain.”
PN6047 has shown very positive results in pre-clinical studies on animal models in terms of both efficacy and safety and this should enable clinical testing to begin within the next 18 months.
While the company’s initial focus is neuropathic pain treatment, PharmNovo also sees clinical opportunities in other areas such as cancer pain, migraine, and chronic cough.
About Sciety:
Sciety is the leading investment syndicate in the Nordics with an exclusive focus on life science and health tech. By combining experience from life science and finance Sciety selects promising companies in the industry, invests in all companies that pass their selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels.
22 MSEK new funding
PharmNovo AB has completed a new share issue of 22 million SEK with the Sciety investment syndicate as the lead investor. Almi Invest and existing shareholders also participated. The new capital will be used to finance production of PharmNovo’s lead drug candidate PN6047 and for regulatory toxicology testing.
CEO Per von Mentzer commented:
“We are very pleased with the successful closing of the investment round and the collaboration with Sciety. We welcome our new shareholders and thank them and existing shareholders for their trust in us and their confidence in the potential for PN6047. In particular Almi Invest, who invested 6.5 MSEK. The new capital will enable the necessary steps in the development of PN6047 into a novel treatment for millions of people suffering from chronic pain.”
PN6047 has shown very positive results in pre-clinical studies on animal models in terms of both efficacy and safety and this should enable clinical testing to begin within the next 18 months.
While the company’s initial focus is neuropathic pain treatment, PharmNovo also sees clinical opportunities in other areas such as cancer pain, migraine, and chronic cough.
About Sciety:
Sciety is the leading investment syndicate in the Nordics with an exclusive focus on life science and health tech. By combining experience from life science and finance Sciety selects promising companies in the industry, invests in all companies that pass their selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels.
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CTA submission for PN6047
PharmNovo AB is pleased to announce that the clinical trial application (CTA) for a Phase IIa proof of concept (PoC) study investigating the safety and efficacy of lead candidate PN6047 in patients with neuropathic pain has been submitted in Spain. The full title of the application is: “Randomized Double-Blind Placebo-Controlled Cross-Over Trial of the Safety, Tolerability, and Efficacy of PN6047 HCl in Peripheral Neuropathic Pain Characterized by Mechanical Allodynia.” Based on a strategic company decision, PharmNovo has submitted the CTA, in the first instance, to the Spanish Health Authorities only. Submission to the Czech Republic and Poland, the two other countries in which the trial will be conducted, is planned to take place following approval in Spain, which is expected by October 2025. Subject to additional investment, patient enrolment is expected to start by Quarter 1 2026.
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PharmNovo at the LSX World Congress in London
Take the opportunity to listen to Per von Mentzer, CEO, presenting PN6047 at the LSX World Congress in April 2025 in London. PharmNovo is redefining pain management with PN6047, a first-in-class Delta Opioid Receptor Agonist (DORA), safer, non-addictive solution for neuropathic pain. Unlike traditional opioids, PN6047 eliminates concerns of side effects, abuse potential, and tolerance. With a proven safety profile from Phase I trials and a market projected to exceed EUR 13 billion by 2033, PN6047 is set to be a game-changer.
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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.
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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.
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