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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income attributable to [abstract]</label>
    <label xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive loss attributable to:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="lab_ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to owners of parent</label>
    <label xlink:label="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Equity holders of the Company</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:label="loc_ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic and diluted earnings (loss) per share</label>
    <label xlink:label="lab_ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic and diluted loss per share</label>
    <label xlink:label="lab_ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic and diluted loss per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:to="lab_ifrs-full_BasicAndDilutedEarningsLossPerShare" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ResearchAndDevelopmentExpense" xlink:label="loc_ifrs-full_ResearchAndDevelopmentExpense" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ResearchAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and development expense</label>
    <label xlink:label="lab_ifrs-full_ResearchAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Research and development expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ResearchAndDevelopmentExpense" xlink:to="lab_ifrs-full_ResearchAndDevelopmentExpense" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="loc_ifrs-full_GeneralAndAdministrativeExpense" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and administrative expense</label>
    <label xlink:label="lab_ifrs-full_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">General and administrative expenses</label>
    <label xlink:label="lab_ifrs-full_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GeneralAndAdministrativeExpense" xlink:to="lab_ifrs-full_GeneralAndAdministrativeExpense" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OperatingExpense" xlink:label="loc_ifrs-full_OperatingExpense" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating expense</label>
    <label xlink:label="lab_ifrs-full_OperatingExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total operating expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OperatingExpense" xlink:to="lab_ifrs-full_OperatingExpense" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinanceCosts" xlink:label="loc_ifrs-full_FinanceCosts" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance costs</label>
    <label xlink:label="lab_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Finance expenses</label>
    <label xlink:label="lab_ifrs-full_FinanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total finance expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinanceCosts" xlink:to="lab_ifrs-full_FinanceCosts" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="loc_ifrs-full_ProfitLossFromOperatingActivities" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) from operating activities</label>
    <label xlink:label="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Loss before income tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossFromOperatingActivities" xlink:to="lab_ifrs-full_ProfitLossFromOperatingActivities" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="loc_ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of financial position [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="lab_ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="loc_ifrs-full_AssetsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [abstract]</label>
    <label xlink:label="lab_ifrs-full_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AssetsAbstract" xlink:to="lab_ifrs-full_AssetsAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentAssetsAbstract" xlink:label="loc_ifrs-full_CurrentAssetsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets [abstract]</label>
    <label xlink:label="lab_ifrs-full_CurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentAssetsAbstract" xlink:to="lab_ifrs-full_CurrentAssetsAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="loc_ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <label xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <label xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at the beginning of the year</label>
    <label xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at the end of the year</label>
    <label xlink:label="lab_ifrs-full_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cash And Cash Equivalents</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashAndCashEquivalents" xlink:to="lab_ifrs-full_CashAndCashEquivalents" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="loc_ifrs-full_TradeAndOtherCurrentReceivables" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other current receivables</label>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables</label>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="lab_ifrs-full_TradeAndOtherCurrentReceivables" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherCurrentAssets" xlink:label="loc_ifrs-full_OtherCurrentAssets" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current assets</label>
    <label xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current assets</label>
    <label xlink:label="lab_ifrs-full_OtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherCurrentAssets" xlink:to="lab_ifrs-full_OtherCurrentAssets" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_CurrentDeferredTaxAssets" xlink:label="loc_phvs_CurrentDeferredTaxAssets" xlink:type="locator"/>
    <label xlink:label="lab_phvs_CurrentDeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Deferred Tax Assets</label>
    <label xlink:label="lab_phvs_CurrentDeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_CurrentDeferredTaxAssets" xlink:to="lab_phvs_CurrentDeferredTaxAssets" xlink:type="arc"/>
    <label xlink:label="lab_phvs_CurrentDeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current deferred tax assets.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssetsAbstract" xlink:label="loc_ifrs-full_NoncurrentAssetsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NoncurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current assets [abstract]</label>
    <label xlink:label="lab_ifrs-full_NoncurrentAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current&#xA0;assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentAssetsAbstract" xlink:to="lab_ifrs-full_NoncurrentAssetsAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="loc_ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</label>
    <label xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</label>
    <label xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">As of January&#xA0;1,</label>
    <label xlink:label="lab_ifrs-full_PropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">As of December&#xA0;31,</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipment" xlink:to="lab_ifrs-full_PropertyPlantAndEquipment" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Assets" xlink:label="loc_ifrs-full_Assets" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</label>
    <label xlink:label="lab_ifrs-full_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Assets" xlink:to="lab_ifrs-full_Assets" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="loc_ifrs-full_EquityAndLiabilities" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity and liabilities</label>
    <label xlink:label="lab_ifrs-full_EquityAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity and liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAndLiabilities" xlink:to="lab_ifrs-full_EquityAndLiabilities" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="loc_ifrs-full_EquityAndLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity and liabilities [abstract]</label>
    <label xlink:label="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity and liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="lab_ifrs-full_EquityAndLiabilitiesAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityAbstract" xlink:label="loc_ifrs-full_EquityAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [abstract]</label>
    <label xlink:label="lab_ifrs-full_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityAbstract" xlink:to="lab_ifrs-full_EquityAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="loc_ifrs-full_IssuedCapital" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital</label>
    <label xlink:label="lab_ifrs-full_IssuedCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share capital</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssuedCapital" xlink:to="lab_ifrs-full_IssuedCapital" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SharePremium" xlink:label="loc_ifrs-full_SharePremium" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_SharePremium" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share premium</label>
    <label xlink:label="lab_ifrs-full_SharePremium" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share premium</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SharePremium" xlink:to="lab_ifrs-full_SharePremium" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherReserves" xlink:label="loc_ifrs-full_OtherReserves" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherReserves" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other reserves</label>
    <label xlink:label="lab_ifrs-full_OtherReserves" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other reserves</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherReserves" xlink:to="lab_ifrs-full_OtherReserves" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:label="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of exchange differences on translation</label>
    <label xlink:label="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency translation reserve</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:to="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="loc_ifrs-full_RetainedEarnings" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_RetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings</label>
    <label xlink:label="lab_ifrs-full_RetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RetainedEarnings" xlink:to="lab_ifrs-full_RetainedEarnings" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Equity" xlink:label="loc_ifrs-full_Equity" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity</label>
    <label xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</label>
    <label xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</label>
    <label xlink:label="lab_ifrs-full_Equity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Equity" xlink:to="lab_ifrs-full_Equity" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentLiabilitiesAbstract" xlink:label="loc_ifrs-full_CurrentLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities [abstract]</label>
    <label xlink:label="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentLiabilitiesAbstract" xlink:to="lab_ifrs-full_CurrentLiabilitiesAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="loc_ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other current payables</label>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade and other payables</label>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayables" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Trade And Other Payables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherCurrentPayables" xlink:to="lab_ifrs-full_TradeAndOtherCurrentPayables" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AccrualsClassifiedAsCurrent" xlink:label="loc_ifrs-full_AccrualsClassifiedAsCurrent" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AccrualsClassifiedAsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accruals classified as current</label>
    <label xlink:label="lab_ifrs-full_AccrualsClassifiedAsCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccrualsClassifiedAsCurrent" xlink:to="lab_ifrs-full_AccrualsClassifiedAsCurrent" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Liabilities" xlink:label="loc_ifrs-full_Liabilities" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</label>
    <label xlink:label="lab_ifrs-full_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Liabilities" xlink:to="lab_ifrs-full_Liabilities" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="loc_ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_StatementOfChangesInEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="lab_ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="loc_ifrs-full_StatementOfChangesInEquityTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_StatementOfChangesInEquityTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityTable" xlink:to="lab_ifrs-full_StatementOfChangesInEquityTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="lab_ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="loc_ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income</label>
    <label xlink:label="lab_ifrs-full_ComprehensiveIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComprehensiveIncome" xlink:to="lab_ifrs-full_ComprehensiveIncome" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssueOfEquity" xlink:label="loc_ifrs-full_IssueOfEquity" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issue of equity</label>
    <label xlink:label="lab_ifrs-full_IssueOfEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issue of share capital</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssueOfEquity" xlink:to="lab_ifrs-full_IssueOfEquity" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through share-based payment transactions, equity</label>
    <label xlink:label="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="lab_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, net of tax, exchange differences on translation</label>
    <label xlink:label="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency translation reserve</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="lab_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ShareIssueRelatedCost" xlink:label="loc_ifrs-full_ShareIssueRelatedCost" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ShareIssueRelatedCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share issue related cost</label>
    <label xlink:label="lab_ifrs-full_ShareIssueRelatedCost" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Transaction costs on issue of shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ShareIssueRelatedCost" xlink:to="lab_ifrs-full_ShareIssueRelatedCost" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="loc_ifrs-full_ComponentsOfEquityAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ComponentsOfEquityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ComponentsOfEquityAxis" xlink:to="lab_ifrs-full_ComponentsOfEquityAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EquityMember" xlink:label="loc_ifrs-full_EquityMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EquityMember" xlink:to="lab_ifrs-full_EquityMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SharePremiumMember" xlink:label="loc_ifrs-full_SharePremiumMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_SharePremiumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share premium [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SharePremiumMember" xlink:to="lab_ifrs-full_SharePremiumMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherReservesMember" xlink:label="loc_ifrs-full_OtherReservesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other reserves [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherReservesMember" xlink:to="lab_ifrs-full_OtherReservesMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:label="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of exchange differences on translation [member]</label>
    <label xlink:label="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency translation reserve [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:to="lab_ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="loc_ifrs-full_RetainedEarningsMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings [member]</label>
    <label xlink:label="lab_ifrs-full_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated losses [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RetainedEarningsMember" xlink:to="lab_ifrs-full_RetainedEarningsMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IssuedCapitalMember" xlink:label="loc_ifrs-full_IssuedCapitalMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital [member]</label>
    <label xlink:label="lab_ifrs-full_IssuedCapitalMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Share capital [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IssuedCapitalMember" xlink:to="lab_ifrs-full_IssuedCapitalMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_StatementOfCashFlowsAbstract" xlink:to="lab_ifrs-full_StatementOfCashFlowsAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities [abstract]</label>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="loc_ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) before tax</label>
    <label xlink:label="lab_ifrs-full_ProfitLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss before tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossBeforeTax" xlink:to="lab_ifrs-full_ProfitLossBeforeTax" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="loc_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile profit (loss) [abstract]</label>
    <label xlink:label="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash adjustments to reconcile loss before tax to net cash flows/used in operations :</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="lab_ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="loc_ifrs-full_AdjustmentsForSharebasedPayments" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustmentsForSharebasedPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for share-based payments</label>
    <label xlink:label="lab_ifrs-full_AdjustmentsForSharebasedPayments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based payment expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="lab_ifrs-full_AdjustmentsForSharebasedPayments" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationExpense" xlink:label="loc_ifrs-full_DepreciationExpense" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation expense</label>
    <label xlink:label="lab_ifrs-full_DepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationExpense" xlink:to="lab_ifrs-full_DepreciationExpense" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="loc_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for unrealised foreign exchange losses (gains)</label>
    <label xlink:label="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net foreign exchange (gain) / loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:to="lab_ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForFinanceCosts" xlink:label="loc_ifrs-full_AdjustmentsForFinanceCosts" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustmentsForFinanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for finance costs</label>
    <label xlink:label="lab_ifrs-full_AdjustmentsForFinanceCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForFinanceCosts" xlink:to="lab_ifrs-full_AdjustmentsForFinanceCosts" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:label="loc_phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes In Operating Assets And Liabilities [Abstract]</label>
    <label xlink:label="lab_phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in working capital:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="lab_phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Changes in operating assets and liabilities.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for decrease (increase) in trade accounts receivable</label>
    <label xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:label="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for decrease (increase) in other current assets</label>
    <label xlink:label="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in other current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:to="lab_ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for increase (decrease) in trade and other payables</label>
    <label xlink:label="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in trade and other payables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="lab_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_AdjustmentsForDecreaseIncreaseInAccruedLiabilities" xlink:label="loc_phvs_AdjustmentsForDecreaseIncreaseInAccruedLiabilities" xlink:type="locator"/>
    <label xlink:label="lab_phvs_AdjustmentsForDecreaseIncreaseInAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments For Decrease Increase In Accrued Liabilities</label>
    <label xlink:label="lab_phvs_AdjustmentsForDecreaseIncreaseInAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in accrued liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_AdjustmentsForDecreaseIncreaseInAccruedLiabilities" xlink:to="lab_phvs_AdjustmentsForDecreaseIncreaseInAccruedLiabilities" xlink:type="arc"/>
    <label xlink:label="lab_phvs_AdjustmentsForDecreaseIncreaseInAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for decrease increase in accrued liabilities.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_AdjustmentsForInterestPaid" xlink:label="loc_phvs_AdjustmentsForInterestPaid" xlink:type="locator"/>
    <label xlink:label="lab_phvs_AdjustmentsForInterestPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments For Interest Paid</label>
    <label xlink:label="lab_phvs_AdjustmentsForInterestPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Paid interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_AdjustmentsForInterestPaid" xlink:to="lab_phvs_AdjustmentsForInterestPaid" xlink:type="arc"/>
    <label xlink:label="lab_phvs_AdjustmentsForInterestPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for interest paid.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities</label>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash flows used in operating activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities [abstract]</label>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</label>
    <label xlink:label="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchase of property, plant and equipment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="lab_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities</label>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash flows used in investing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) financing activities [abstract]</label>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:label="loc_ifrs-full_ProceedsFromIssuingShares" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from issuing shares</label>
    <label xlink:label="lab_ifrs-full_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issue of shares</label>
    <label xlink:label="lab_ifrs-full_ProceedsFromIssuingShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">proceeds from shares issued</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProceedsFromIssuingShares" xlink:to="lab_ifrs-full_ProceedsFromIssuingShares" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PaymentsForShareIssueCosts" xlink:label="loc_ifrs-full_PaymentsForShareIssueCosts" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_PaymentsForShareIssueCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for share issue costs</label>
    <label xlink:label="lab_ifrs-full_PaymentsForShareIssueCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Transaction costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PaymentsForShareIssueCosts" xlink:to="lab_ifrs-full_PaymentsForShareIssueCosts" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) financing activities</label>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash flows provided by financing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="lab_ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</label>
    <label xlink:label="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase in cash and cash equivalents</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:to="lab_ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <label xlink:label="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="lab_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_TextBlockAbstract" xlink:label="loc_phvs_TextBlockAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TextBlockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Text Block [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TextBlockAbstract" xlink:to="lab_phvs_TextBlockAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TextBlockAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Text block.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:label="loc_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of general information about financial statements [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate and Group information</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="loc_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of significant accounting policies [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of significant accounting policies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:label="loc_ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of research and development expense [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Research and development expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:to="lab_ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:label="loc_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of general and administrative expense [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:to="lab_ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfPersonnelExpensesExplanatoryTextBlock" xlink:label="loc_phvs_DisclosureOfPersonnelExpensesExplanatoryTextBlock" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFinanceCostExplanatory" xlink:label="loc_ifrs-full_DisclosureOfFinanceCostExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfFinanceCostExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of finance cost [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="loc_ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of income tax [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of property, plant and equipment [text block]</label>
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    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfReceivablesExplanatoryTextBlock" xlink:label="loc_phvs_DisclosureOfReceivablesExplanatoryTextBlock" xlink:type="locator"/>
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    <label xlink:label="lab_phvs_DisclosureOfReceivablesExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of receivables explanatory.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:label="loc_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other current assets [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current assets</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:label="loc_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash and cash equivalents [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:label="loc_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of share capital, reserves and other equity interest [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:label="loc_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of trade and other payables [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade and other payables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory" xlink:label="loc_phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Financial Assets And Labilities Fair Value Explanatory</label>
    <label xlink:label="lab_phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial assets and liabilities fair value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory" xlink:to="lab_phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of financial assets and liabilities fair value explanatory.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:label="loc_ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of accrued expenses and other liabilities [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:label="loc_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial risk management [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial risk management</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:to="lab_ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:label="loc_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of share-based payment arrangements [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfBasisAndDilutedLossPerShare" xlink:label="loc_phvs_DisclosureOfBasisAndDilutedLossPerShare" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfBasisAndDilutedLossPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Basis And Diluted Loss Per Share</label>
    <label xlink:label="lab_phvs_DisclosureOfBasisAndDilutedLossPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic and diluted loss per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfBasisAndDilutedLossPerShare" xlink:to="lab_phvs_DisclosureOfBasisAndDilutedLossPerShare" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfBasisAndDilutedLossPerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of basis and diluted loss per share.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:label="loc_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of related party [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of related party</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="lab_ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:label="loc_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of commitments and contingent liabilities [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of commitments and contingent liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="lab_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory" xlink:label="loc_ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other provisions, contingent liabilities and contingent assets [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent liabilities and contingent assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory" xlink:to="lab_ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="loc_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of events after reporting period [text block]</label>
    <label xlink:label="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Events after the reporting period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="lab_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for trade and other receivables [text block]</label>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:to="lab_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for income tax [text block]</label>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current and deferred income tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:to="lab_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for determining components of cash and cash equivalents [text block]</label>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:to="lab_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for issued capital [text block]</label>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:to="lab_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="arc"/>
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    <label xlink:label="lab_phvs_DescriptionOfAccountingPolicyForBasisOfPreparationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description Of Accounting Policy For Basis Of Preparation [Policy Text Block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for segment reporting [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForCashFlowsExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForCashFlowsExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for expenses [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:label="loc_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for financial instruments [text block]</label>
    <label xlink:label="lab_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial instruments Recognition and measurement</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="locator"/>
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    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesTextBlock" xlink:label="loc_phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesTextBlock" xlink:type="locator"/>
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    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information research and development expenses. .</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesTextBlock" xlink:label="loc_phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesTextBlock" xlink:type="locator"/>
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    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information general and administrative expenses.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfExpensesByNatureExplanatory" xlink:label="loc_ifrs-full_DisclosureOfExpensesByNatureExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfExpensesByNatureExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of expenses by nature [text block]</label>
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    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfFinancialExpensesExplanatoryTextBlock" xlink:label="loc_phvs_DisclosureOfFinancialExpensesExplanatoryTextBlock" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfFinancialExpensesExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Financial Expenses Explanatory [Text Block]</label>
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    <label xlink:label="lab_phvs_DisclosureOfFinancialExpensesExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of financial expenses explanatory.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock" xlink:label="loc_phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Components Of Income Tax Expense Benefit [Text Block]</label>
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    <label xlink:label="lab_phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of components of income tax expense benefit.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock" xlink:label="loc_phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock" xlink:type="locator"/>
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    <label xlink:label="lab_phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of effective income tax rate reconciliation.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsTextBlock" xlink:label="loc_phvs_DisclosureOfOperatingLossCarryForwardsTextBlock" xlink:type="locator"/>
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    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfTradeAndOtherLiabilitiesExplanatoryTextBlock" xlink:label="loc_phvs_DisclosureOfTradeAndOtherLiabilitiesExplanatoryTextBlock" xlink:type="locator"/>
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    <label xlink:label="lab_phvs_DisclosureOfAccruedLiabilitiesExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accrued liabilities explanatory.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsAbstract" xlink:label="loc_phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Maturity Profile Of Accrued Liabilities Based On Contractual Undiscounted Payments [Abstract]</label>
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    <label xlink:label="lab_phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of maturity profile of accrued liabilities based on contractual undiscounted payments.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsTextBlock" xlink:label="loc_phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsTextBlock" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of maturity profile of accrued liabilities based on contractual undiscounted payments [Text Block]</label>
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    <label xlink:label="lab_phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of maturity profile of accrued liabilities based on contractual undiscounted payments text Block .</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:label="loc_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of number and weighted average exercise prices of share options [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" xlink:label="loc_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" xlink:type="locator"/>
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    <label xlink:label="lab_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of the Number and Weighted Average Purchase Prices Movements in RSU</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:label="loc_ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodExplanatory" xlink:label="loc_ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:label="loc_ifrs-full_DisclosureOfEarningsPerShareExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" xlink:label="loc_ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory" xlink:type="locator"/>
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    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsExplanatoryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information About Future Aggregate Minimum Payments Under Research And Development Commitments Explanatory [Text Block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:to="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:to="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="loc_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="lab_ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="loc_ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EntitysTotalForSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for subsidiaries [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="lab_ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_PharvarisHoldingsBvMember" xlink:label="loc_phvs_PharvarisHoldingsBvMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PharvarisHoldingsBvMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pharvaris Holdings BV [Member]</label>
    <label xlink:label="lab_phvs_PharvarisHoldingsBvMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pharvaris Holdings BV [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PharvarisHoldingsBvMember" xlink:to="lab_phvs_PharvarisHoldingsBvMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PharvarisHoldingsBvMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pharvaris Holdings B.V.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PharvarisNetherlandsBvMember" xlink:label="loc_phvs_PharvarisNetherlandsBvMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PharvarisNetherlandsBvMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pharvaris Netherlands BV [Member]</label>
    <label xlink:label="lab_phvs_PharvarisNetherlandsBvMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pharvaris Netherlands BV [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PharvarisNetherlandsBvMember" xlink:to="lab_phvs_PharvarisNetherlandsBvMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PharvarisNetherlandsBvMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pharvaris Netherlands B.V.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PharvarisIncMember" xlink:label="loc_phvs_PharvarisIncMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PharvarisIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pharvaris Inc [Member]</label>
    <label xlink:label="lab_phvs_PharvarisIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pharvaris Inc [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PharvarisIncMember" xlink:to="lab_phvs_PharvarisIncMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PharvarisIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pharvaris, Inc.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PharvarisGmbhMember" xlink:label="loc_phvs_PharvarisGmbhMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PharvarisGmbhMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pharvaris GmbH [Member]</label>
    <label xlink:label="lab_phvs_PharvarisGmbhMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pharvaris GmbH [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PharvarisGmbhMember" xlink:to="lab_phvs_PharvarisGmbhMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PharvarisGmbhMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pharvaris GmbH.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:label="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:to="lab_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NameOfSubsidiary" xlink:label="loc_ifrs-full_NameOfSubsidiary" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NameOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of subsidiary</label>
    <label xlink:label="lab_ifrs-full_NameOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NameOfSubsidiary" xlink:to="lab_ifrs-full_NameOfSubsidiary" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" xlink:label="loc_ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Principal place of business of subsidiary</label>
    <label xlink:label="lab_ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal seat</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" xlink:to="lab_ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:label="loc_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Country of incorporation of subsidiary</label>
    <label xlink:label="lab_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Country&#xA0;of&#xA0;incorporation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:to="lab_ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="loc_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</label>
    <label xlink:label="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">%&#xA0;of&#xA0;equity&#xA0;interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="lab_ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_CorporateAndGroupInformationTable" xlink:label="loc_phvs_CorporateAndGroupInformationTable" xlink:type="locator"/>
    <label xlink:label="lab_phvs_CorporateAndGroupInformationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate And Group Information [Table]</label>
    <label xlink:label="lab_phvs_CorporateAndGroupInformationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate and Group information [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_CorporateAndGroupInformationTable" xlink:to="lab_phvs_CorporateAndGroupInformationTable" xlink:type="arc"/>
    <label xlink:label="lab_phvs_CorporateAndGroupInformationTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate and group information.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_CorporateAndGroupInformationLineItems" xlink:label="loc_phvs_CorporateAndGroupInformationLineItems" xlink:type="locator"/>
    <label xlink:label="lab_phvs_CorporateAndGroupInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate And Group Information [Line Items]</label>
    <label xlink:label="lab_phvs_CorporateAndGroupInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate and Group information [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_CorporateAndGroupInformationLineItems" xlink:to="lab_phvs_CorporateAndGroupInformationLineItems" xlink:type="arc"/>
    <label xlink:label="lab_phvs_CorporateAndGroupInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate and group information.</label>
    <loc xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationDateOfIncorporation" xlink:label="loc_dei_EntityIncorporationDateOfIncorporation" xlink:type="locator"/>
    <label xlink:label="lab_dei_EntityIncorporationDateOfIncorporation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, Date of Incorporation</label>
    <label xlink:label="lab_dei_EntityIncorporationDateOfIncorporation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity incorporation, date of incorporation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationDateOfIncorporation" xlink:to="lab_dei_EntityIncorporationDateOfIncorporation" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Cash" xlink:label="loc_ifrs-full_Cash" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_Cash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash</label>
    <label xlink:label="lab_ifrs-full_Cash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Cash" xlink:to="lab_ifrs-full_Cash" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:label="loc_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Useful life measured as period of time, property, plant and equipment</label>
    <label xlink:label="lab_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Useful life , property, plant and equipment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:to="lab_ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperations" xlink:label="loc_ifrs-full_CashFlowsFromUsedInOperations" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operations</label>
    <label xlink:label="lab_ifrs-full_CashFlowsFromUsedInOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashFlowsFromUsedInOperations" xlink:to="lab_ifrs-full_CashFlowsFromUsedInOperations" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="lab_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="loc_ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_PropertyPlantAndEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="lab_ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OfficeEquipmentMember" xlink:label="loc_ifrs-full_OfficeEquipmentMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OfficeEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office equipment [member]</label>
    <label xlink:label="lab_ifrs-full_OfficeEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office equipment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OfficeEquipmentMember" xlink:to="lab_ifrs-full_OfficeEquipmentMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RangeAxis" xlink:label="loc_ifrs-full_RangeAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RangeAxis" xlink:to="lab_ifrs-full_RangeAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_RangesMember" xlink:label="loc_ifrs-full_RangesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_RangesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ranges [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_RangesMember" xlink:to="lab_ifrs-full_RangesMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="loc_ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_BottomOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bottom of range [member]</label>
    <label xlink:label="lab_ifrs-full_BottomOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BottomOfRangeMember" xlink:to="lab_ifrs-full_BottomOfRangeMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="loc_ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TopOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Top of range [member]</label>
    <label xlink:label="lab_ifrs-full_TopOfRangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Top of range [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TopOfRangeMember" xlink:to="lab_ifrs-full_TopOfRangeMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:label="loc_phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information Research And Development Expenses [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:to="lab_phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information research and development expenses.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:label="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:to="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="loc_ifrs-full_ProductsAndServicesAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProductsAndServicesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProductsAndServicesAxis" xlink:to="lab_ifrs-full_ProductsAndServicesAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="loc_ifrs-full_ProductsAndServicesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProductsAndServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProductsAndServicesMember" xlink:to="lab_ifrs-full_ProductsAndServicesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_PersonnelExpensesMember" xlink:label="loc_phvs_PersonnelExpensesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PersonnelExpensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Personnel Expenses [Member]</label>
    <label xlink:label="lab_phvs_PersonnelExpensesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Personnel expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PersonnelExpensesMember" xlink:to="lab_phvs_PersonnelExpensesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PersonnelExpensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Personnel expenses.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ClinicalExpensesMember" xlink:label="loc_phvs_ClinicalExpensesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ClinicalExpensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Clinical Expenses [Member]</label>
    <label xlink:label="lab_phvs_ClinicalExpensesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Clinical expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ClinicalExpensesMember" xlink:to="lab_phvs_ClinicalExpensesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ClinicalExpensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Clinical expenses.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PreclinicalExpensesMember" xlink:label="loc_phvs_PreclinicalExpensesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PreclinicalExpensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preclinical Expenses [Member]</label>
    <label xlink:label="lab_phvs_PreclinicalExpensesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preclinical expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PreclinicalExpensesMember" xlink:to="lab_phvs_PreclinicalExpensesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PreclinicalExpensesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pre-clinical expenses.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ManufacturingCostsMember" xlink:label="loc_phvs_ManufacturingCostsMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ManufacturingCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Manufacturing Costs [Member]</label>
    <label xlink:label="lab_phvs_ManufacturingCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Manufacturing costs [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ManufacturingCostsMember" xlink:to="lab_phvs_ManufacturingCostsMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ManufacturingCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Manufacturing costs.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_LicenseCostsMember" xlink:label="loc_phvs_LicenseCostsMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_LicenseCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">License Costs [Member]</label>
    <label xlink:label="lab_phvs_LicenseCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">License costs [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_LicenseCostsMember" xlink:to="lab_phvs_LicenseCostsMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_LicenseCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">License costs.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_IntellectualPropertyCostsMember" xlink:label="loc_phvs_IntellectualPropertyCostsMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_IntellectualPropertyCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intellectual Property Costs [Member]</label>
    <label xlink:label="lab_phvs_IntellectualPropertyCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intellectual Property costs [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_IntellectualPropertyCostsMember" xlink:to="lab_phvs_IntellectualPropertyCostsMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_IntellectualPropertyCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intellectual property costs.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:label="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of disaggregation of revenue from contracts with customers [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:to="lab_ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:label="loc_phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Detailed Information General And Administrative Expenses [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:to="lab_phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information general and administrative expenses.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PersonnelExpense" xlink:label="loc_phvs_PersonnelExpense" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PersonnelExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Personnel Expense</label>
    <label xlink:label="lab_phvs_PersonnelExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Personnel expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PersonnelExpense" xlink:to="lab_phvs_PersonnelExpense" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PersonnelExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Personnel expense.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ConsultingFees" xlink:label="loc_phvs_ConsultingFees" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ConsultingFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consulting Fees</label>
    <label xlink:label="lab_phvs_ConsultingFees" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Consulting fees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ConsultingFees" xlink:to="lab_phvs_ConsultingFees" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ConsultingFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consulting fees.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfessionalFeesExpense" xlink:label="loc_ifrs-full_ProfessionalFeesExpense" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProfessionalFeesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Professional fees expense</label>
    <label xlink:label="lab_ifrs-full_ProfessionalFeesExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Professional fees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfessionalFeesExpense" xlink:to="lab_ifrs-full_ProfessionalFeesExpense" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AuditorsRemunerationForAuditServices" xlink:label="loc_ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AuditorsRemunerationForAuditServices" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Auditor's remuneration for audit services</label>
    <label xlink:label="lab_ifrs-full_AuditorsRemunerationForAuditServices" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accounting, tax and auditing fees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AuditorsRemunerationForAuditServices" xlink:to="lab_ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_FacilitiesCommunicationandOfficeExpense" xlink:label="loc_phvs_FacilitiesCommunicationandOfficeExpense" xlink:type="locator"/>
    <label xlink:label="lab_phvs_FacilitiesCommunicationandOfficeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Facilities CommunicationAnd Office Expense</label>
    <label xlink:label="lab_phvs_FacilitiesCommunicationandOfficeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Facilities, communication&#xA0;&amp; office expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_FacilitiesCommunicationandOfficeExpense" xlink:to="lab_phvs_FacilitiesCommunicationandOfficeExpense" xlink:type="arc"/>
    <label xlink:label="lab_phvs_FacilitiesCommunicationandOfficeExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Facilities, communication&#xA0;and office expense.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TravelExpense" xlink:label="loc_ifrs-full_TravelExpense" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TravelExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Travel expense</label>
    <label xlink:label="lab_ifrs-full_TravelExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Travel expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TravelExpense" xlink:to="lab_ifrs-full_TravelExpense" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherExpenseByNature" xlink:label="loc_ifrs-full_OtherExpenseByNature" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherExpenseByNature" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other expenses, by nature</label>
    <label xlink:label="lab_ifrs-full_OtherExpenseByNature" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherExpenseByNature" xlink:to="lab_ifrs-full_OtherExpenseByNature" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CashOutflowForLeases" xlink:label="loc_ifrs-full_CashOutflowForLeases" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CashOutflowForLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash outflow for leases</label>
    <label xlink:label="lab_ifrs-full_CashOutflowForLeases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash outflow for leases</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CashOutflowForLeases" xlink:to="lab_ifrs-full_CashOutflowForLeases" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfExpensesByNatureAbstract" xlink:label="loc_phvs_DisclosureOfExpensesByNatureAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfExpensesByNatureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Expenses By Nature [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfExpensesByNatureAbstract" xlink:to="lab_phvs_DisclosureOfExpensesByNatureAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfExpensesByNatureAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of expenses by nature.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WagesAndSalaries" xlink:label="loc_ifrs-full_WagesAndSalaries" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WagesAndSalaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Wages and salaries</label>
    <label xlink:label="lab_ifrs-full_WagesAndSalaries" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Wages and salaries</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WagesAndSalaries" xlink:to="lab_ifrs-full_WagesAndSalaries" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_PensionCharges" xlink:label="loc_phvs_PensionCharges" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PensionCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Charges</label>
    <label xlink:label="lab_phvs_PensionCharges" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Pension charges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PensionCharges" xlink:to="lab_phvs_PensionCharges" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PensionCharges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pension charges.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_OtherSocialSecurityCharges" xlink:label="loc_phvs_OtherSocialSecurityCharges" xlink:type="locator"/>
    <label xlink:label="lab_phvs_OtherSocialSecurityCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Social Security Charges</label>
    <label xlink:label="lab_phvs_OtherSocialSecurityCharges" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other social security charges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_OtherSocialSecurityCharges" xlink:to="lab_phvs_OtherSocialSecurityCharges" xlink:type="arc"/>
    <label xlink:label="lab_phvs_OtherSocialSecurityCharges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other social security charges.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ShareBasedPayments" xlink:label="loc_phvs_ShareBasedPayments" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ShareBasedPayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Payments</label>
    <label xlink:label="lab_phvs_ShareBasedPayments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Share-based payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ShareBasedPayments" xlink:to="lab_phvs_ShareBasedPayments" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ShareBasedPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based payments.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="loc_ifrs-full_EmployeeBenefitsExpense" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefits expense</label>
    <label xlink:label="lab_ifrs-full_EmployeeBenefitsExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EmployeeBenefitsExpense" xlink:to="lab_ifrs-full_EmployeeBenefitsExpense" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfEmployees" xlink:label="loc_ifrs-full_NumberOfEmployees" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of employees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfEmployees" xlink:to="lab_ifrs-full_NumberOfEmployees" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfFinancialExpensesAbstract" xlink:label="loc_phvs_DisclosureOfFinancialExpensesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfFinancialExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Financial Expenses [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfFinancialExpensesAbstract" xlink:to="lab_phvs_DisclosureOfFinancialExpensesAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfFinancialExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of financial expenses.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NetForeignExchangeLoss" xlink:label="loc_ifrs-full_NetForeignExchangeLoss" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NetForeignExchangeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net foreign exchange loss</label>
    <label xlink:label="lab_ifrs-full_NetForeignExchangeLoss" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange differences</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NetForeignExchangeLoss" xlink:to="lab_ifrs-full_NetForeignExchangeLoss" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:label="loc_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense on bank loans and overdrafts</label>
    <label xlink:label="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest expenses over bank balances</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:to="lab_ifrs-full_InterestExpenseOnBankLoansAndOverdrafts" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherFinanceCost" xlink:label="loc_ifrs-full_OtherFinanceCost" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherFinanceCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other finance cost</label>
    <label xlink:label="lab_ifrs-full_OtherFinanceCost" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other finance expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherFinanceCost" xlink:to="lab_ifrs-full_OtherFinanceCost" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="loc_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major components of tax expense (income) [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="lab_ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="loc_ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax expense (income)</label>
    <label xlink:label="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current income tax charge</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentTaxExpenseIncome" xlink:to="lab_ifrs-full_CurrentTaxExpenseIncome" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DeferredTaxExpense" xlink:label="loc_phvs_DeferredTaxExpense" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DeferredTaxExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Expense</label>
    <label xlink:label="lab_phvs_DeferredTaxExpense" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:type="resource" xml:lang="en-US">Deferred tax benefit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DeferredTaxExpense" xlink:to="lab_phvs_DeferredTaxExpense" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DeferredTaxExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax expense.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:label="loc_ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of accounting profit multiplied by applicable tax rates [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:to="lab_ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AccountingProfit" xlink:label="loc_ifrs-full_AccountingProfit" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AccountingProfit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting profit</label>
    <label xlink:label="lab_ifrs-full_AccountingProfit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss before income tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccountingProfit" xlink:to="lab_ifrs-full_AccountingProfit" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="loc_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax expense (income) at applicable tax rate</label>
    <label xlink:label="lab_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax benefit at statutory income tax rate of 25%</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:to="lab_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:label="loc_phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax effect of expenses not deductible in determining taxable profit tax loss</label>
    <label xlink:label="lab_phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-deductible&#xA0;expenses for tax purposes (share based payments)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:to="lab_phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax effect of expenses not deductible in determining taxable profit (tax loss).</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxExpensesOfTransactionCost" xlink:label="loc_phvs_TaxExpensesOfTransactionCost" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxExpensesOfTransactionCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Expenses Of transaction Cost</label>
    <label xlink:label="lab_phvs_TaxExpensesOfTransactionCost" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Transactions costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxExpensesOfTransactionCost" xlink:to="lab_phvs_TaxExpensesOfTransactionCost" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxExpensesOfTransactionCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Expenses Of transaction Cost</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TaxEffectFromChangeInTaxRate" xlink:label="loc_ifrs-full_TaxEffectFromChangeInTaxRate" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TaxEffectFromChangeInTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax effect from change in tax rate</label>
    <label xlink:label="lab_ifrs-full_TaxEffectFromChangeInTaxRate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Differences in overseas tax rates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TaxEffectFromChangeInTaxRate" xlink:to="lab_ifrs-full_TaxEffectFromChangeInTaxRate" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_RecognisedLossesOfDeferredTaxAsset" xlink:label="loc_phvs_RecognisedLossesOfDeferredTaxAsset" xlink:type="locator"/>
    <label xlink:label="lab_phvs_RecognisedLossesOfDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recognised Losses Of Deferred Tax Asset</label>
    <label xlink:label="lab_phvs_RecognisedLossesOfDeferredTaxAsset" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Current year losses for which no deferred tax asset has been recognized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_RecognisedLossesOfDeferredTaxAsset" xlink:to="lab_phvs_RecognisedLossesOfDeferredTaxAsset" xlink:type="arc"/>
    <label xlink:label="lab_phvs_RecognisedLossesOfDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recognised losses of deferred tax asset.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:label="loc_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other tax effects for reconciliation between accounting profit and tax expense (income)</label>
    <label xlink:label="lab_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:to="lab_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:label="loc_phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Effect Of Temporary Differences For Which No Deferred Tax Assets Has Been Recognized</label>
    <label xlink:label="lab_phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognition of previously unrecognized deferred tax assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:to="lab_phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax effect of temporary differences for which no deferred tax assets has been recognized.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxEffectiveOfIncomeTaxRate" xlink:label="loc_phvs_TaxEffectiveOfIncomeTaxRate" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxEffectiveOfIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Effective Of Income Tax Rate</label>
    <label xlink:label="lab_phvs_TaxEffectiveOfIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax benefit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxEffectiveOfIncomeTaxRate" xlink:to="lab_phvs_TaxEffectiveOfIncomeTaxRate" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxEffectiveOfIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax effective of income tax rate.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TemporaryDifferencesForWhichNoDeferredTaxAssetsOrLiabilitiesRecognized" xlink:label="loc_phvs_TemporaryDifferencesForWhichNoDeferredTaxAssetsOrLiabilitiesRecognized" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TemporaryDifferencesForWhichNoDeferredTaxAssetsOrLiabilitiesRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary Differences For Which No Deferred Tax Assets Or Liabilities Recognized</label>
    <label xlink:label="lab_phvs_TemporaryDifferencesForWhichNoDeferredTaxAssetsOrLiabilitiesRecognized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Temporary differences for which no deferred tax assets/liabilities have been recognized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TemporaryDifferencesForWhichNoDeferredTaxAssetsOrLiabilitiesRecognized" xlink:to="lab_phvs_TemporaryDifferencesForWhichNoDeferredTaxAssetsOrLiabilitiesRecognized" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TemporaryDifferencesForWhichNoDeferredTaxAssetsOrLiabilitiesRecognized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Temporary differences for which no deferred tax assets or liabilities recognized.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract" xlink:label="loc_ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of average effective tax rate and applicable tax rate [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract" xlink:to="lab_ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ApplicableTaxRate" xlink:label="loc_ifrs-full_ApplicableTaxRate" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Applicable tax rate</label>
    <label xlink:label="lab_ifrs-full_ApplicableTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Applicable tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ApplicableTaxRate" xlink:to="lab_ifrs-full_ApplicableTaxRate" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsAbstract" xlink:label="loc_phvs_DisclosureOfOperatingLossCarryForwardsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfOperatingLossCarryForwardsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Operating Loss Carry forwards [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfOperatingLossCarryForwardsAbstract" xlink:to="lab_phvs_DisclosureOfOperatingLossCarryForwardsAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfOperatingLossCarryForwardsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Operating Loss Carry forwards (Abstract)</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:label="loc_phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Operating Loss Carry forwards [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:to="lab_phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Operating Loss Carry forwards (Table)</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="loc_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="lab_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="loc_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="lab_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_UnusedTaxLossesMember" xlink:label="loc_ifrs-full_UnusedTaxLossesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_UnusedTaxLossesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unused tax losses [member]</label>
    <label xlink:label="lab_ifrs-full_UnusedTaxLossesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax losses [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_UnusedTaxLossesMember" xlink:to="lab_ifrs-full_UnusedTaxLossesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:label="loc_phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Operating Loss Carry forwards [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:to="lab_phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Operating Loss Carry forwards [Line Item]</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TaxEffectOfTaxLosses" xlink:label="loc_ifrs-full_TaxEffectOfTaxLosses" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TaxEffectOfTaxLosses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax effect of tax losses</label>
    <label xlink:label="lab_ifrs-full_TaxEffectOfTaxLosses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carry-forward losses</label>
    <label xlink:label="lab_ifrs-full_TaxEffectOfTaxLosses" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:type="resource" xml:lang="en-US">Tax effect of tax losses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TaxEffectOfTaxLosses" xlink:to="lab_ifrs-full_TaxEffectOfTaxLosses" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxPeriodAxis" xlink:label="loc_phvs_TaxPeriodAxis" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Period [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxPeriodAxis" xlink:to="lab_phvs_TaxPeriodAxis" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxPeriodAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Period [Axis]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxPeriodMember" xlink:label="loc_phvs_TaxPeriodMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxPeriodMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Period [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxPeriodMember" xlink:to="lab_phvs_TaxPeriodMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxPeriodMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Period [Member]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxYear2026Member" xlink:label="loc_phvs_TaxYear2026Member" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxYear2026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Year 2026 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxYear2026Member" xlink:to="lab_phvs_TaxYear2026Member" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxYear2026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Year 2026 [Member]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxYear2027Member" xlink:label="loc_phvs_TaxYear2027Member" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxYear2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Year 2027 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxYear2027Member" xlink:to="lab_phvs_TaxYear2027Member" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxYear2027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Year 2027 [Member]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxYear2025Member" xlink:label="loc_phvs_TaxYear2025Member" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxYear2025Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Year 2025 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxYear2025Member" xlink:to="lab_phvs_TaxYear2025Member" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxYear2025Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax Year 2025 [Member]</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="loc_ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_GeographicalAreasAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GeographicalAreasAxis" xlink:to="lab_ifrs-full_GeographicalAreasAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GeographicalAreasMember" xlink:label="loc_ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_GeographicalAreasMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GeographicalAreasMember" xlink:to="lab_ifrs-full_GeographicalAreasMember" xlink:type="arc"/>
    <loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_NL" xlink:label="loc_country_NL" xlink:type="locator"/>
    <label xlink:label="lab_country_NL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NETHERLANDS</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_NL" xlink:to="lab_country_NL" xlink:type="arc"/>
    <loc xlink:href="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd#country_CH" xlink:label="loc_country_CH" xlink:type="locator"/>
    <label xlink:label="lab_country_CH" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SWITZERLAND</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CH" xlink:to="lab_country_CH" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" xlink:label="loc_ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in deferred tax liability (asset) [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" xlink:to="lab_ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:label="loc_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:to="lab_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:label="loc_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:to="lab_phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DeferredTaxAssetsAbstract" xlink:label="loc_phvs_DeferredTaxAssetsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DeferredTaxAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets [Abstract]</label>
    <label xlink:label="lab_phvs_DeferredTaxAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DeferredTaxAssetsAbstract" xlink:to="lab_phvs_DeferredTaxAssetsAbstract" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DeferredTaxAsset" xlink:label="loc_phvs_DeferredTaxAsset" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Asset</label>
    <label xlink:label="lab_phvs_DeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets Ending balance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DeferredTaxAsset" xlink:to="lab_phvs_DeferredTaxAsset" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax asset.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ChangesInDeferredTaxAssetAbstract" xlink:label="loc_phvs_ChangesInDeferredTaxAssetAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ChangesInDeferredTaxAssetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes In Deferred Tax Asset [Abstract]</label>
    <label xlink:label="lab_phvs_ChangesInDeferredTaxAssetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Charged)/credited</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ChangesInDeferredTaxAssetAbstract" xlink:to="lab_phvs_ChangesInDeferredTaxAssetAbstract" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:label="loc_phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets Recognised In Profit Or Loss</label>
    <label xlink:label="lab_phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">- Profit or loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:to="lab_phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets recognised in profit or loss.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DeferredTaxLiabilitiesAbstract" xlink:label="loc_phvs_DeferredTaxLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liabilities [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DeferredTaxLiabilitiesAbstract" xlink:to="lab_phvs_DeferredTaxLiabilitiesAbstract" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DeferredTaxLiability" xlink:label="loc_phvs_DeferredTaxLiability" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DeferredTaxLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liability</label>
    <label xlink:label="lab_phvs_DeferredTaxLiability" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities Ending balance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DeferredTaxLiability" xlink:to="lab_phvs_DeferredTaxLiability" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DeferredTaxLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax liability.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:label="loc_phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes In Deferred Tax Liability [Abstract]</label>
    <label xlink:label="lab_phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Charged)/credited</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:to="lab_phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:label="loc_phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Liability Recognised In Profit Or Loss</label>
    <label xlink:label="lab_phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">- Profit or loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:to="lab_phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax liability recognised in profit or loss.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="loc_ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DeferredTaxLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liability (asset)</label>
    <label xlink:label="lab_ifrs-full_DeferredTaxLiabilityAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeferredTaxLiabilityAsset" xlink:to="lab_ifrs-full_DeferredTaxLiabilityAsset" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_BalanceSheetLocationAxis" xlink:label="loc_phvs_BalanceSheetLocationAxis" xlink:type="locator"/>
    <label xlink:label="lab_phvs_BalanceSheetLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_BalanceSheetLocationAxis" xlink:to="lab_phvs_BalanceSheetLocationAxis" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_BalanceSheetLocationDomain" xlink:label="loc_phvs_BalanceSheetLocationDomain" xlink:type="locator"/>
    <label xlink:label="lab_phvs_BalanceSheetLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_BalanceSheetLocationDomain" xlink:to="lab_phvs_BalanceSheetLocationDomain" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_ResearchAndDevelopmentExpensesMember" xlink:label="loc_phvs_ResearchAndDevelopmentExpensesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ResearchAndDevelopmentExpensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research And Development Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ResearchAndDevelopmentExpensesMember" xlink:to="lab_phvs_ResearchAndDevelopmentExpensesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_OtherReceivablesMember" xlink:label="loc_phvs_OtherReceivablesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_OtherReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Receivables [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_OtherReceivablesMember" xlink:to="lab_phvs_OtherReceivablesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_AccruedExpensesMember" xlink:label="loc_phvs_AccruedExpensesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_AccruedExpensesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Expenses [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_AccruedExpensesMember" xlink:to="lab_phvs_AccruedExpensesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" xlink:label="loc_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" xlink:to="lab_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reconciliation of average effective tax rate and applicable tax rate [Table]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_IncomeTaxAuthorityAxis" xlink:label="loc_phvs_IncomeTaxAuthorityAxis" xlink:type="locator"/>
    <label xlink:label="lab_phvs_IncomeTaxAuthorityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_IncomeTaxAuthorityAxis" xlink:to="lab_phvs_IncomeTaxAuthorityAxis" xlink:type="arc"/>
    <label xlink:label="lab_phvs_IncomeTaxAuthorityAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Axis]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_IncomeTaxAuthorityMember" xlink:label="loc_phvs_IncomeTaxAuthorityMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_IncomeTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_IncomeTaxAuthorityMember" xlink:to="lab_phvs_IncomeTaxAuthorityMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_IncomeTaxAuthorityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Member]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DutchTaxLawMember" xlink:label="loc_phvs_DutchTaxLawMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DutchTaxLawMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dutch tax law [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DutchTaxLawMember" xlink:to="lab_phvs_DutchTaxLawMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DutchTaxLawMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dutch tax law [Member]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_SwissTaxLawMember" xlink:label="loc_phvs_SwissTaxLawMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_SwissTaxLawMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Swiss tax Law [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_SwissTaxLawMember" xlink:to="lab_phvs_SwissTaxLawMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_SwissTaxLawMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Swiss tax Law [Member]</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" xlink:label="loc_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" xlink:to="lab_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [line Item]</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AverageEffectiveTaxRate" xlink:label="loc_ifrs-full_AverageEffectiveTaxRate" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AverageEffectiveTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average effective tax rate</label>
    <label xlink:label="lab_ifrs-full_AverageEffectiveTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effective tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AverageEffectiveTaxRate" xlink:to="lab_ifrs-full_AverageEffectiveTaxRate" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxLossCarryForwardsYear" xlink:label="loc_phvs_TaxLossCarryForwardsYear" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxLossCarryForwardsYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards Year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxLossCarryForwardsYear" xlink:to="lab_phvs_TaxLossCarryForwardsYear" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxLossCarryForwardsYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards year.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_TaxLossCarryForwardsRevisedYear" xlink:label="loc_phvs_TaxLossCarryForwardsRevisedYear" xlink:type="locator"/>
    <label xlink:label="lab_phvs_TaxLossCarryForwardsRevisedYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards revised Year</label>
    <label xlink:label="lab_phvs_TaxLossCarryForwardsRevisedYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards revised Year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_TaxLossCarryForwardsRevisedYear" xlink:to="lab_phvs_TaxLossCarryForwardsRevisedYear" xlink:type="arc"/>
    <label xlink:label="lab_phvs_TaxLossCarryForwardsRevisedYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards revised year.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:label="loc_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deductible temporary differences for which no deferred tax asset is recognised</label>
    <label xlink:label="lab_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized deferred tax assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:to="lab_ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:label="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about property, plant and equipment [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="lab_ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="loc_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="lab_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="loc_ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CarryingAmountMember" xlink:to="lab_ifrs-full_CarryingAmountMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:label="loc_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated depreciation and amortisation [member]</label>
    <label xlink:label="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative depreciation [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="lab_ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="loc_ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross carrying amount [member]</label>
    <label xlink:label="lab_ifrs-full_GrossCarryingAmountMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative Costs [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_GrossCarryingAmountMember" xlink:to="lab_ifrs-full_GrossCarryingAmountMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment</label>
    <label xlink:label="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Additions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="loc_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, property, plant and equipment</label>
    <label xlink:label="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="lab_ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ValueAddedTaxReceivables" xlink:label="loc_ifrs-full_ValueAddedTaxReceivables" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ValueAddedTaxReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Value added tax receivables</label>
    <label xlink:label="lab_ifrs-full_ValueAddedTaxReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Value added tax receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ValueAddedTaxReceivables" xlink:to="lab_ifrs-full_ValueAddedTaxReceivables" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentPrepayments" xlink:label="loc_ifrs-full_CurrentPrepayments" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CurrentPrepayments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current prepayments</label>
    <label xlink:label="lab_ifrs-full_CurrentPrepayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Prepayments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CurrentPrepayments" xlink:to="lab_ifrs-full_CurrentPrepayments" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherAssets" xlink:label="loc_ifrs-full_OtherAssets" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other assets</label>
    <label xlink:label="lab_ifrs-full_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OtherAssets" xlink:to="lab_ifrs-full_OtherAssets" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:to="lab_ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:to="lab_ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="loc_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:to="lab_ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:label="loc_ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares issued and fully paid</label>
    <label xlink:label="lab_ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of shares issued and fully paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:to="lab_ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="loc_ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ClassesOfShareCapitalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of share capital [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfShareCapitalAxis" xlink:to="lab_ifrs-full_ClassesOfShareCapitalAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="loc_ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ClassesOfShareCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share capital [member]</label>
    <label xlink:label="lab_ifrs-full_ClassesOfShareCapitalMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Share capital [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfShareCapitalMember" xlink:to="lab_ifrs-full_ClassesOfShareCapitalMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_PreferredSharesAMember" xlink:label="loc_phvs_PreferredSharesAMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PreferredSharesAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Shares A [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PreferredSharesAMember" xlink:to="lab_phvs_PreferredSharesAMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PreferredSharesAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred shares A.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PreferredSharesBMember" xlink:label="loc_phvs_PreferredSharesBMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PreferredSharesBMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Shares B [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PreferredSharesBMember" xlink:to="lab_phvs_PreferredSharesBMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PreferredSharesBMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred shares B.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PreferredSharesCMember" xlink:label="loc_phvs_PreferredSharesCMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PreferredSharesCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Shares C [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PreferredSharesCMember" xlink:to="lab_phvs_PreferredSharesCMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PreferredSharesCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred shares C.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="loc_ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_OrdinarySharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ordinary shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_OrdinarySharesMember" xlink:to="lab_ifrs-full_OrdinarySharesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DividendsAsPercentage" xlink:label="loc_phvs_DividendsAsPercentage" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DividendsAsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends As Percentage</label>
    <label xlink:label="lab_phvs_DividendsAsPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends as percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DividendsAsPercentage" xlink:to="lab_phvs_DividendsAsPercentage" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DividendsAsPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends as percentage.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DividendsPaidOtherSharesPerShare" xlink:label="loc_ifrs-full_DividendsPaidOtherSharesPerShare" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DividendsPaidOtherSharesPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends paid, other shares per share</label>
    <label xlink:label="lab_ifrs-full_DividendsPaidOtherSharesPerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Dividend distributed</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DividendsPaidOtherSharesPerShare" xlink:to="lab_ifrs-full_DividendsPaidOtherSharesPerShare" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="loc_ifrs-full_ParValuePerShare" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Par value per share</label>
    <label xlink:label="lab_ifrs-full_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Nominal value per share</label>
    <label xlink:label="lab_ifrs-full_ParValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Par value per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ParValuePerShare" xlink:to="lab_ifrs-full_ParValuePerShare" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:label="loc_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade payables</label>
    <label xlink:label="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="lab_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:label="loc_ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current payables on social security and taxes other than income tax</label>
    <label xlink:label="lab_ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Tax and social security liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="lab_ifrs-full_NoncurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:label="loc_phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Accrued liabilities [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:to="lab_phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of Accrued liabilities [Abstract]</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:label="loc_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:label="loc_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:to="lab_ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:label="loc_ifrs-full_FinancialLiabilitiesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_FinancialLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, class [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialLiabilitiesMember" xlink:to="lab_ifrs-full_FinancialLiabilitiesMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:label="loc_phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consulting Professional And Audit Liability [Member]</label>
    <label xlink:label="lab_phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consulting Professional And Audit Liability [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:to="lab_phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consulting, professional and audit liability.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ClinicalAccruedLiabilitiesMember" xlink:label="loc_phvs_ClinicalAccruedLiabilitiesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ClinicalAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Clinical Accrued Liabilities [Member]</label>
    <label xlink:label="lab_phvs_ClinicalAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Clinical Accrued Liabilities [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ClinicalAccruedLiabilitiesMember" xlink:to="lab_phvs_ClinicalAccruedLiabilitiesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ClinicalAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Clinical accrued liabilities.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_ManufacturingAccruedLiabilitiesMember" xlink:label="loc_phvs_ManufacturingAccruedLiabilitiesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_ManufacturingAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Manufacturing Accrued Liabilities [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_ManufacturingAccruedLiabilitiesMember" xlink:to="lab_phvs_ManufacturingAccruedLiabilitiesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_ManufacturingAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Manufacturing accrued liabilities.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PreclinicalAccruedLiabilitiesMember" xlink:label="loc_phvs_PreclinicalAccruedLiabilitiesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PreclinicalAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preclinical Accrued Liabilities [Member]</label>
    <label xlink:label="lab_phvs_PreclinicalAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preclinical Accrued Liabilities [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PreclinicalAccruedLiabilitiesMember" xlink:to="lab_phvs_PreclinicalAccruedLiabilitiesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PreclinicalAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pre-clinical&#xA0;accrued liabilities.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PersonnelRelatedAccrualsMember" xlink:label="loc_phvs_PersonnelRelatedAccrualsMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PersonnelRelatedAccrualsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Personnel Related Accruals [Member]</label>
    <label xlink:label="lab_phvs_PersonnelRelatedAccrualsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Personnel Related Accruals [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PersonnelRelatedAccrualsMember" xlink:to="lab_phvs_PersonnelRelatedAccrualsMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PersonnelRelatedAccrualsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Personnel related accruals.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_OtherAccruedLiabilitiesMember" xlink:label="loc_phvs_OtherAccruedLiabilitiesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_OtherAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Accrued Liabilities [Member]</label>
    <label xlink:label="lab_phvs_OtherAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Accrued Liabilities [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_OtherAccruedLiabilitiesMember" xlink:to="lab_phvs_OtherAccruedLiabilitiesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_OtherAccruedLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other accrued liabilities.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:label="loc_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:to="lab_ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:label="loc_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:to="lab_ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="loc_ifrs-full_MaturityAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_MaturityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturity [axis]</label>
    <label xlink:label="lab_ifrs-full_MaturityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_MaturityAxis" xlink:to="lab_ifrs-full_MaturityAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="loc_ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AggregatedTimeBandsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated time bands [member]</label>
    <label xlink:label="lab_ifrs-full_AggregatedTimeBandsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregated time bands [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AggregatedTimeBandsMember" xlink:to="lab_ifrs-full_AggregatedTimeBandsMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="loc_ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not later than one year [member]</label>
    <label xlink:label="lab_ifrs-full_NotLaterThanOneYearMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Within one year [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NotLaterThanOneYearMember" xlink:to="lab_ifrs-full_NotLaterThanOneYearMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="loc_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than five years [member]</label>
    <label xlink:label="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Later than one year but not later than five years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="lab_ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_StatementOfLineitemsLineItems" xlink:label="loc_phvs_StatementOfLineitemsLineItems" xlink:type="locator"/>
    <label xlink:label="lab_phvs_StatementOfLineitemsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">statement of Lineitems [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_StatementOfLineitemsLineItems" xlink:to="lab_phvs_StatementOfLineitemsLineItems" xlink:type="arc"/>
    <label xlink:label="lab_phvs_StatementOfLineitemsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">statement of Lineitems .</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherPayables" xlink:label="loc_ifrs-full_TradeAndOtherPayables" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TradeAndOtherPayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other payables</label>
    <label xlink:label="lab_ifrs-full_TradeAndOtherPayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade and other payables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherPayables" xlink:to="lab_ifrs-full_TradeAndOtherPayables" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Accruals" xlink:label="loc_ifrs-full_Accruals" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_Accruals" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accruals</label>
    <label xlink:label="lab_ifrs-full_Accruals" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_Accruals" xlink:to="lab_ifrs-full_Accruals" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:label="loc_ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of risk management strategy related to hedge accounting [table]</label>
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    <label xlink:label="lab_ifrs-full_NonadjustingEventsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [member]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="loc_ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LiquidityRiskMember" xlink:label="loc_ifrs-full_LiquidityRiskMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_LiquidityRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liquidity risk [member]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_InterestRateRiskMember" xlink:label="loc_ifrs-full_InterestRateRiskMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_InterestRateRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk [member]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CreditRiskMember" xlink:label="loc_ifrs-full_CreditRiskMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit risk [member]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:label="loc_ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:type="locator"/>
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    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="lab_ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_NumberOfDaysRestrictedInForeignCurrencyTradePayables" xlink:label="loc_phvs_NumberOfDaysRestrictedInForeignCurrencyTradePayables" xlink:type="locator"/>
    <label xlink:label="lab_phvs_NumberOfDaysRestrictedInForeignCurrencyTradePayables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Days Restricted in Foreign Currency Trade Payables</label>
    <label xlink:label="lab_phvs_NumberOfDaysRestrictedInForeignCurrencyTradePayables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of days restricted in foreign currency trade payables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_NumberOfDaysRestrictedInForeignCurrencyTradePayables" xlink:to="lab_phvs_NumberOfDaysRestrictedInForeignCurrencyTradePayables" xlink:type="arc"/>
    <label xlink:label="lab_phvs_NumberOfDaysRestrictedInForeignCurrencyTradePayables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of days restricted in foreign currency trade payables.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Borrowings" xlink:label="loc_ifrs-full_Borrowings" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_FinancialAssets" xlink:label="loc_ifrs-full_FinancialAssets" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets</label>
    <label xlink:label="lab_ifrs-full_FinancialAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_FinancialAssets" xlink:to="lab_ifrs-full_FinancialAssets" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_Proceedsfromissuanceinitialpublicoffering" xlink:label="loc_phvs_Proceedsfromissuanceinitialpublicoffering" xlink:type="locator"/>
    <label xlink:label="lab_phvs_Proceedsfromissuanceinitialpublicoffering" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Issuance Initial Public Offering</label>
    <label xlink:label="lab_phvs_Proceedsfromissuanceinitialpublicoffering" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance initial public offering</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_Proceedsfromissuanceinitialpublicoffering" xlink:to="lab_phvs_Proceedsfromissuanceinitialpublicoffering" xlink:type="arc"/>
    <label xlink:label="lab_phvs_Proceedsfromissuanceinitialpublicoffering" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from issuance initial public offering.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" xlink:label="loc_phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" xlink:to="lab_phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" xlink:type="arc"/>
    <label xlink:label="lab_phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Number And Weighted Average Exercise Price Of Share Options.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfOutstandingShareOptions" xlink:label="loc_ifrs-full_NumberOfOutstandingShareOptions" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options outstanding in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_NumberOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</label>
    <label xlink:label="lab_ifrs-full_NumberOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label xlink:label="lab_ifrs-full_NumberOfOutstandingShareOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of options</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfOutstandingShareOptions" xlink:to="lab_ifrs-full_NumberOfOutstandingShareOptions" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="loc_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options granted in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted</label>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of share options granted</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="lab_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="loc_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options exercised in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercised</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="lab_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:label="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of share options outstanding in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance, Weighted average</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance , Weighted	average</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:to="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:label="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of share options granted in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted , Weighted average</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:to="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:label="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of share options exercised in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercised , Weighted average</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:to="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:label="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of share options forfeited in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited , Weighted average</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:to="lab_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:label="loc_ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options forfeited in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="lab_ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsAbstract" xlink:label="loc_phvs_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsAbstract" xlink:type="locator"/>
    <label xlink:label="lab_phvs_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Abstract]</label>
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    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019" xlink:label="loc_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement2019" xlink:label="loc_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of other equity instruments forfeited in share-based payment arrangement</label>
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    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodAbstract" xlink:label="loc_phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodAbstract" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:label="loc_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:label="loc_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:label="loc_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:label="loc_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:type="locator"/>
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    <loc xlink:href="phvs-20201231.xsd#phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodAbstract" xlink:label="loc_phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodAbstract" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:label="loc_ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:type="locator"/>
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    <loc xlink:href="phvs-20201231.xsd#phvs_BlackScholesFormulaMember" xlink:label="loc_phvs_BlackScholesFormulaMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_BlackScholesFormulaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Black Scholes Formula [Member]</label>
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    <loc xlink:href="phvs-20201231.xsd#phvs_FairValueOfTheOptions" xlink:label="loc_phvs_FairValueOfTheOptions" xlink:type="locator"/>
    <label xlink:label="lab_phvs_FairValueOfTheOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of the options</label>
    <label xlink:label="lab_phvs_FairValueOfTheOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of the options</label>
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    <label xlink:label="lab_phvs_FairValueOfTheOptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of the options .</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_FairValueOfTheOrdinaryShares" xlink:label="loc_phvs_FairValueOfTheOrdinaryShares" xlink:type="locator"/>
    <label xlink:label="lab_phvs_FairValueOfTheOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of the ordinary shares</label>
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    <label xlink:label="lab_phvs_FairValueOfTheOrdinaryShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of the ordinary shares .</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageSharePrice2019" xlink:label="loc_ifrs-full_WeightedAverageSharePrice2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageSharePrice2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average share price</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageSharePrice2019" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise price</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageSharePrice2019" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted average share price</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageSharePrice2019" xlink:to="lab_ifrs-full_WeightedAverageSharePrice2019" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="loc_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="lab_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="loc_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of related parties [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="lab_ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="loc_ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for related parties [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="lab_ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:label="loc_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Key management personnel of entity or parent [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:to="lab_ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:label="loc_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of instruments granted in share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number Of Instruments Granted InShare based Payment Arrangement</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:to="lab_ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:label="loc_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of maximum term of options granted for share-based payment arrangement</label>
    <label xlink:label="lab_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Description of maximum term of options granted for share-based payment arrangement</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:to="lab_ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate" xlink:label="loc_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of aggregate number of stock options shall vest on one year at grant date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate" xlink:to="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of aggregate number of stock options shall vest on one year at grant date .</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate" xlink:label="loc_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of aggregate number of stock options shall vest on One Month at grant date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate" xlink:to="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of aggregate number of stock options shall vest on One Month at grant date .</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" xlink:label="loc_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" xlink:type="locator"/>
    <label xlink:label="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of aggregate number of stock options shall vest on last day</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" xlink:to="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" xlink:type="arc"/>
    <label xlink:label="lab_phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of aggregate number of stock options shall vest on last day .</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="loc_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense from share-based payment transactions with employees</label>
    <label xlink:label="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense from share-based payment transactions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="lab_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:label="loc_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options exercisable in share-based payment arrangement</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="lab_ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ExercisePriceOfOutstandingShareOptions2019" xlink:label="loc_ifrs-full_ExercisePriceOfOutstandingShareOptions2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ExercisePriceOfOutstandingShareOptions2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise price of outstanding share options</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ExercisePriceOfOutstandingShareOptions2019" xlink:to="lab_ifrs-full_ExercisePriceOfOutstandingShareOptions2019" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:label="loc_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average remaining contractual life of outstanding share options</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:to="lab_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:label="loc_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of share-based payment arrangements [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="lab_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_SharebasedPaymentArrangementsMember" xlink:label="loc_ifrs-full_SharebasedPaymentArrangementsMember" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_SharebasedPaymentArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based payment arrangements [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_SharebasedPaymentArrangementsMember" xlink:to="lab_ifrs-full_SharebasedPaymentArrangementsMember" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_RestrictedAwardAgreementMember" xlink:label="loc_phvs_RestrictedAwardAgreementMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_RestrictedAwardAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Award Agreement [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_RestrictedAwardAgreementMember" xlink:to="lab_phvs_RestrictedAwardAgreementMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_RestrictedAwardAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restricted Award Agreement .</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_RestrictedStockUnitsMember" xlink:label="loc_phvs_RestrictedStockUnitsMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_RestrictedStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock units [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_RestrictedStockUnitsMember" xlink:to="lab_phvs_RestrictedStockUnitsMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_RestrictedStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restricted Stock units member .</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_BasicAndDilutedEarningsPerShareAbstract" xlink:label="loc_ifrs-full_BasicAndDilutedEarningsPerShareAbstract" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_BasicAndDilutedEarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic and diluted earnings per share [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_BasicAndDilutedEarningsPerShareAbstract" xlink:to="lab_ifrs-full_BasicAndDilutedEarningsPerShareAbstract" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="loc_ifrs-full_EarningsPerShareTable" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EarningsPerShareTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EarningsPerShareTable" xlink:to="lab_ifrs-full_EarningsPerShareTable" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="loc_ifrs-full_EarningsPerShareLineItems" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EarningsPerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_EarningsPerShareLineItems" xlink:to="lab_ifrs-full_EarningsPerShareLineItems" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss), attributable to owners of parent</label>
    <label xlink:label="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loss attributable to equity holders of the Company</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="lab_ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:label="loc_ifrs-full_AdjustedWeightedAverageShares" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_AdjustedWeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjusted weighted average number of ordinary shares outstanding</label>
    <label xlink:label="lab_ifrs-full_AdjustedWeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted average number of ordinary shares outstanding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_AdjustedWeightedAverageShares" xlink:to="lab_ifrs-full_AdjustedWeightedAverageShares" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_WeightedAverageShares" xlink:label="loc_ifrs-full_WeightedAverageShares" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_WeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average number of ordinary shares outstanding</label>
    <label xlink:label="lab_ifrs-full_WeightedAverageShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_WeightedAverageShares" xlink:to="lab_ifrs-full_WeightedAverageShares" xlink:type="arc"/>
    <loc xlink:href="phvs-20201231.xsd#phvs_SeriesAPreferredSharesMember" xlink:label="loc_phvs_SeriesAPreferredSharesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_SeriesAPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A Preferred Shares [Member]</label>
    <label xlink:label="lab_phvs_SeriesAPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A Preferred Shares [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_SeriesAPreferredSharesMember" xlink:to="lab_phvs_SeriesAPreferredSharesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_SeriesAPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series A preferred shares.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_SeriesBPreferredSharesMember" xlink:label="loc_phvs_SeriesBPreferredSharesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_SeriesBPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series B Preferred Shares [Member]</label>
    <label xlink:label="lab_phvs_SeriesBPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series B Preferred Shares [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_SeriesBPreferredSharesMember" xlink:to="lab_phvs_SeriesBPreferredSharesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_SeriesBPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series B preferred shares.</label>
    <loc xlink:href="phvs-20201231.xsd#phvs_SeriesCPreferredSharesMember" xlink:label="loc_phvs_SeriesCPreferredSharesMember" xlink:type="locator"/>
    <label xlink:label="lab_phvs_SeriesCPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series C Preferred Shares [Member]</label>
    <label xlink:label="lab_phvs_SeriesCPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series C Preferred Shares [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_phvs_SeriesCPreferredSharesMember" xlink:to="lab_phvs_SeriesCPreferredSharesMember" xlink:type="arc"/>
    <label xlink:label="lab_phvs_SeriesCPreferredSharesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series C preferred shares.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="loc_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Key management personnel compensation, short-term employee benefits</label>
    <label xlink:label="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Short term employee benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="lab_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="arc"/>
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    <label xlink:label="lab_ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-term employee benefits accruals</label>
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    <label xlink:label="lab_phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentslLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about future aggregate minimum payments under research and development commitments.</label>
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    <label xlink:label="lab_phvs_FutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Future Aggregate Minimum Payments Under Research And Development Commitments</label>
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    <label xlink:label="lab_phvs_FutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Future aggregate minimum payments under research and development commitments.</label>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfOtherProvisionsAbstract" xlink:label="loc_ifrs-full_DisclosureOfOtherProvisionsAbstract" xlink:type="locator"/>
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    <label xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estimated financial effect of contingent liabilities</label>
    <label xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Contingent liabilities</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_EstimatedFinancialEffectOfContingentAssets" xlink:label="loc_ifrs-full_EstimatedFinancialEffectOfContingentAssets" xlink:type="locator"/>
    <label xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estimated financial effect of contingent assets</label>
    <label xlink:label="lab_ifrs-full_EstimatedFinancialEffectOfContingentAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Contingent assets</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:label="loc_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodTable" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:label="loc_ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodLineItems" xlink:type="locator"/>
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    <label xlink:label="lab_ifrs-full_ExercisePriceShareOptionsGranted2019" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise price, share options granted</label>
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    <loc xlink:href="phvs-20201231.xsd#phvs_GrossProceedsFromInitialPublicOffering" xlink:label="loc_phvs_GrossProceedsFromInitialPublicOffering" xlink:type="locator"/>
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