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.
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.
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.
Read moreBengt 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.
Read moreThe US National Institute of Drug Abuse (NIDA) has funded a project investigating the drug candidate PN6047, a novel and highly selective Delta Opioid Receptor Agonist (DORA), represents a unique approach to addressing this medical challenge.
Read moreOlof Breuer's presence at PharmNovo exemplifies the company's commitment to pioneering advancements in pain relief. His visionary approach, honed through years of experience, positions him as a driving force in the quest for novel concepts in neuropathic pain relief.
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