PharmNovo, a Lund company led by chief executive Per von Mentzer, develops PN6047, a delta opioid receptor agonist that is biased towards G-protein signalling and avoids the mu opioid receptor, the target of morphine and fentanyl that drives addiction and breathing suppression. Its EIC Accelerator project, PN6047-DOBRA, "PN6047 - a breakthrough treatment of neuropathic pain", receives an EU contribution of €2,493,000 and runs from November 2024 to April 2027, according to CORDIS. No periodic report has been published.
In July 2024 PharmNovo announced blended funding of €17.5 million from the EIC: a €2.5 million grant and up to €15 million of equity from the EIC Fund, "contingent upon securing equivalent funding from co-investors", according to Cision. The funding is meant to take PN6047 through a Phase IIa proof-of-concept study. That trial, a randomised, double-blind, placebo-controlled cross-over study in 65 patients with peripheral neuropathic pain, was authorised on 30 September 2025 in Spain, Czechia and Poland, according to the EU Clinical Trials Information System. A year later the register shows it as authorised but not yet started.
Company file
- Legal entity
- PharmNovo AB, Lund
- CEO
- Per von Mentzer
- Lead drug
- PN6047, biased delta opioid receptor agonist
- Indication
- Peripheral neuropathic pain
- Trial
- Phase IIa, EU CT 2024-517304-12-00
- Named investor
- Karolinska Development
- EIC funding
- Blended finance, €2.5M grant plus up to €15M conditional equity
Where PharmNovo Stands Now
In April 2026 PharmNovo said the capsules for the Phase IIa study had been manufactured and were ready, according to its news page. It strengthened its board in January 2026, presented at LSX in Lisbon in March 2026, reported preclinical findings in migraine and opioid withdrawal with Washington University in St. Louis in June 2026, work funded by the US National Institute on Drug Abuse, and published in The Journal of Headache and Pain in August 2026. It has not announced the first patient dosed, an equity round or an investment by the EIC Fund. Karolinska Development lists PharmNovo as a portfolio company, according to MarketScreener.
The EIC equity of up to €15 million is "contingent upon securing equivalent funding from co-investors."
PharmNovo, July 2024The Technology: Opioid Relief Without the Mu Receptor
Neuropathic pain, caused by nerve damage from diabetes, chemotherapy or injury, responds poorly to existing drugs, and classic opioids act on the mu receptor, which brings dependence and overdose risk. PN6047 targets the delta receptor instead and is designed to favour the signalling pathway linked to pain relief, according to PharmNovo. Whether PN6047 relieves pain in patients is what the Phase IIa trial is meant to show.
What the EIC Award Promised, and What the Record Shows
The project runs to April 2027, so it is too early to judge it. Regulatory authorisation and drug manufacturing are done. The central deliverable, clinical proof of concept, needs a trial that has not yet enrolled a patient according to the EU register, with seven months of the project left.
- Trial authorisationDeliveredSeptember 2025.
- Trial drug productDeliveredApril 2026.
- Phase IIa under wayNot startedEU register.
- Proof of conceptPendingNo data.
The Money
The €17.5 million headline is mostly conditional. Only the €2.5 million grant is certain; the €15 million of EIC equity arrives only if PharmNovo raises the same amount from other investors, and no such round has been announced in the two years since the award.
What Cannot Be Checked
Questions for the EIC
Whether any of the €15 million EIC equity has been paid, why the authorised Phase IIa trial has not started, when the first patient will be dosed and how PharmNovo is financing the trial are not public.
Why Europe Should Care
A pain drug without the addiction of mu opioids would address a large unmet need, and PharmNovo told investors at LSX in March 2026 that the neuropathic pain market is expected to double to €13 billion by 2033, according to its news page. The EIC's bet only pays off if the clinical trial runs.
What the award promised
Phase IIa proof of concept for a non-addictive neuropathic pain drug.
What the record shows
Trial authorised and drug made; no patient enrolled, equity still conditional.
The Verdict
Cleared to start, not started
PharmNovo has its approvals and capsules. The trial, and the co-investors that unlock the EIC equity, are still missing.
PharmNovo and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.
