Pharvaris: Positive results from Phase 1 trials and IPO underway

Pharvaris, a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of innovative therapies, including novel, small molecule bradykinin-B2-receptor antagonists for the treatment of hereditary angioedema (HAE) and other bradykinin-B2-receptor-mediated indications. The company’s most advanced program PHA121 is a highly potent, specific, and orally bioavailable competitive antagonist of the bradykinin B2 receptor. Pharvaris is developing this formulation to provide rapid exposure of attack-mitigating medicine in a convenient, small oral dosage form. It should be able to treat all subtypes of HAE.

HAE is a rare and potentially life-threatening genetic condition with symptoms that include episodes of debilitating and often painful swelling in the hands, feet, face (lips and tongue), gastrointestinal tract, urogenital region, or airways. Attacks are unpredictable in frequency, location, timing, and severity, with multiple types of triggers. Patients experience a median of 14 attacks per year, and half of the patients experience a potentially life-threatening airway attack at least once in their lifetime, according to published reports.

First in-human-trials with positive results 
In phase 1 of its clinical trials the safety, tolerability, and pharmacokinetics of PHA121 were examined in 38 healthy volunteers. All reported treatment-emergent adverse events (TEAEs) were mild in intensity and resolved completely.  The pharmacokinetic profile suggests that therapeutic drug levels of PHA121 were achieved in day 1 and steady-state plasma concentrations were reached within 72 hours.

During the course of 2021, Pharvaris will further explore the therapeutic potential of PHA121 for both acute and prophylactic treatment of HAE. 

IPO on Pharvaris’ agenda 
On its roadmap too, Pharvaris is planning to go public, as reported by Renaissance Capital. The company has filed with the SEC to raise up to $100 million in an initial public offering. It will list on the Nasdaq under the symbol PHVS. According to Rennaissane, “Pharvaris filed confidentially on November 12, 2020. Morgan Stanley, BofA Securities and SVB Leerink are the joint bookrunners on the deal. No pricing terms were disclosed.”

Pharvaris is registered in the Netherlands and in Switzerland. Founder and CEO Berndt Modig works out of Switzerland together with a growing team. 

(Press release / RAN)