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October 20, 2020

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.

 

October 20, 2020

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.

 

Author:

Petra Larson

Author:

Petra Larson

A stronger team

We are pleased to announce that we have hired Jesper Kjerulff, starting on June 1st, to serve as the project leader for the continued development of our candidate compound PN6047 and lead the project into phase 1 clinical trials in Q2 2022.

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In memory of Hans G.

Hans G. Nilsson, PhD (1943–2021), has during a cross country ski trip on a beautiful Sunday in January 2021, unexpectedly left us in grief and mourning.

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Patent granted in China

We are pleased to announce that PharmNovo AB has been granted a patent for our candidate PN6047 in China. PharmNovo AB is currently entering into regulatory toxicology studies with PN6047 – an exciting phase in the development of this biased delta opioid receptor agonist (DOBRA) favouring signalling through G proteins. In preclinical testing, our candidate effectively reduces neuropathic pain without any of the unwanted side effects of conventional opioids.

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New board member

PharmNovo is pleased to announce that Helen Pettersson is now a member of the board, representing Almi Invest and Almi Invest Syd, being one of the larger investors in PharmNovo AB.

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