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PharmNovo starts Phase I study

During the summer, the application to start clinical studies of PN6047 was approved by the Swedish Medical Products Agency and Ethical Review Authority, and the first dose has now been given to humans.

The primary goal of phase I studies is to investigate the safety and tolerability of the candidate PN6047. The trials are being carried out by Clinical Trial Consultants AB (CTC, based in Uppsala, Sweden) and will include about a hundred healthy volunteers.

“We are extremely proud and happy to have achieved a milestone we have worked to reach for a very long time. Our vision is to improve the quality of life for people suffering from chronic pain. Going from pre clinical to clinical development is a significant achievement for everyone involved. I want to take this opportunity to thank and congratulate our team; everyone has worked hardand been totally committed to achieving this,” says Per von Mentzer, CEO of PharmNovo.

A share issue of 67 million SEK

Earlier this summer, PharmNovo completed a share issue of SEK 67 million led by the investor syndicate Sciety. Karolinska Development AB also participated in the share issue. An additional SEK 6 million was added in a rights issue. The capital will be used to implement the clinical phase I studies, produce the drug substance, and continue the company’s development.