This week, we have conversations with Cosmo Feilding Mellen, CEO of Beckley Psytech; Sirli Rosenvald, CEO of Estonian company Funki, and Per von Mentzer, CEO of Swedish company PharmNovo. We spoke with Funki at Life Sciences Baltics in Vilnius, Lithuania, recently, and with von Mentzer at NLS Days in Gothenburg.
Taking on pain
PharmNovo AB is a biotechnology company headquartered at Medicon Village in Lund, Sweden. Founded in 2008, it specialises in the development of novel treatments for neuropathic pain, a condition that affects millions of patients worldwide and remains difficult to manage.
The company’s lead candidate, PN6047, is a selective delta opioid receptor agonist. Preclinical studies have indicated analgesic effects without the tolerance and dependency risks associated with traditional opioids. PN6047 has progressed into Phase II clinical trials, marking a significant step in evaluating its safety and efficacy in patients.
PharmNovo conducts its clinical programme across European trial sites, with a focus on peripheral neuropathic pain indications such as diabetic neuropathy and post‑surgical nerve injury. Data from these studies will inform the design of later‑stage trials and determine the potential pathway toward regulatory approval.
Funki fungi
Funki is an Estonian food biotech company developing fungi‑based proteins as alternatives to meat and fish. The company combines food science with product development to create sustainable foods that replicate the taste and texture of conventional protein sources.
Its work gained international recognition as a finalist in the XPrize “Feed the Next Billion” competition, where it presented a salmon analogue made from pea protein and fungi. This project highlighted both technical capability and consumer‑oriented design.
Funki’s research and production efforts are part of a wider European movement to diversify protein supply chains and reduce the environmental impact of food systems.
Psychedelics take a leap forward
Beckley Psytech is a UK‑based biotechnology company developing psychedelic‑derived medicines for serious mental health conditions. Its lead programme, BPL‑003, is an intranasal formulation of 5‑MeO‑DMT designed for the treatment of treatment‑resistant depression (TRD). The company is also advancing ELE‑101, an intravenous psilocin candidate, for major depressive disorder and alcohol use disorder.
Clinical progress has been significant. Phase IIb trials of BPL‑003 met primary and secondary endpoints, showing rapid and durable reductions in depressive symptoms. On the back of these results, the U.S. FDA granted Breakthrough Therapy designation in October 2025, expediting the path toward phase III trials. ELE‑101 is in earlier‑stage studies, with recruitment completed for initial safety and efficacy assessments.
By targeting conditions such as TRD – where existing therapies often fail – Beckley Psytech is addressing one of the most urgent gaps in psychiatry. Its strategy combines short‑acting psychedelic compounds with controlled delivery methods, aiming to make treatments both clinically effective and practical within healthcare systems.
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Jim Cornall is editor of Deeptech Digest and publisher at Ayr Coastal Media. He is an award-winning writer, editor, photographer, broadcaster, designer and author. Contact Jim here.