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<!-- DFIN New ActiveDisclosure (SM) XBRL Linkbase Document - http://www.dfinsolutions.com/ -->
<!-- Creation Date :2023-04-05T06:13:21.0846+00:00 -->
<!-- Copyright (c) 2023 Donnelly Financial Solutions, Inc. All Rights Reserved. -->
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CHFMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CHF [member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OfficeEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Office equipment [member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Personnel Expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_BusinessContactMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Business Contact [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_BusinessContactMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Business Contact [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accumulated depreciation and amortisation [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative depreciation [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trade and other current receivables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Receivables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share options, Exercised</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of share options exercised in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Number stock options, Exercised</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Flag</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Flag</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NonclinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Nonclinical expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NonclinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Nonclinical Expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NonclinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Nonclinical expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NonclinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Nonclinical expenses Member</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pharvaris, Inc.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pharvaris Inc [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pharvaris Inc [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Pharvaris Inc Member</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfAcquiredReceivablesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of acquired receivables [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase (decrease) in accrued liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Adjustments for increase (decrease) in accrued liabilities to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Increase Decrease In Accrued Liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of transactions between related parties [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Transactions Between Related Parties [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preference shares [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PreferenceSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Shares [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Current lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current lease liability</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Current Portion</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for unrealised foreign exchange losses (gains)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net foreign exchange (gain) / loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Depreciation expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Depreciation, right-of-use assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Depreciation charges</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_USDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">USD.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_USDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">U S D [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_USDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">USD [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of income tax [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income taxes</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of financial expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Financial Expenses [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trade and other current payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Trade And Other Payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Applicable tax rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Applicable tax rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of general information about financial statements [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Corporate and Group information</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of indirect measurement of fair value of goods or services received, other equity instruments granted during period [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Fair Value Per Option at Each Grant/Measurements Date Using the Black-Scholes Formula</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Geographical areas [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Geographical areas [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of share options forfeited in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Number stock options, Forfeited</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Financial assets at beginning of period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Financial assets at end of period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total financial assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SwissTaxLawMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Swiss tax Law [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SwissTaxLawMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Swiss Tax Law [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SwissTaxLawMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Swiss tax Law [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Classes of property, plant and equipment [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Classes of property, plant and equipment [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AuditorFirmId_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Auditor Firm ID</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AuditorFirmId_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Auditor Firm ID</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_MinimumSalesPercentageOfGenericVersionOfProduct_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sales of generic version, Percentage</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_MinimumSalesPercentageOfGenericVersionOfProduct_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Minimum Sales Percentage of Generic Version of Product</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_MinimumSalesPercentageOfGenericVersionOfProduct_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Minimum sales of generic version of product expressed in percentage.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of trade and other payables [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Depreciation expenses related to property, plant and equipment and leases</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Depreciation expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Depreciation expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BasicAndDilutedEarningsLossPerShare1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of earnings per share when the basic and diluted measurements are equal. [Refer: Basic earnings (loss) per share; Diluted earnings (loss) per share]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BasicAndDilutedEarningsLossPerShare1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Basic And Diluted Earnings Loss Per Share1</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BasicAndDilutedEarningsLossPerShare1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic and diluted loss per share</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of indirect measurement of fair value of goods or services received other equity instruments granted during period.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Other Equity Instruments Granted During Period [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average exercise price of other equity instruments exercised or vested in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vested , Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressesAddressTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Addresses, Address Type [Axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressesAddressTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Addresses, Address Type</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">As of December 31</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">As of January 1</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Profit or loss [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average fair value at measurement date, share options granted</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted-average grant date fair value</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exchange gain / (loss) arising on translation of foreign operations</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reclassification adjustments on exchange differences on translation of foreign operations, net of tax</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Exchange gain / (loss) arising on translation of foreign operations</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Borrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Borrowings</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Borrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Borrowings</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Borrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total borrowings</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SVBLeerinkMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">SVB Leerink.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SVBLeerinkMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">S V B Leerink [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SVBLeerinkMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SVB Leerink [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherReservesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other reserves [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherReservesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other reserves [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2024</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Later than one year and not later than two years [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of terms and conditions of share-based payment arrangement [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation, State or Country Code</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation, State or Country Code</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share capital [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share capital [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about other current assets explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Other Current Assets Explanatory [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Other Current Assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RestrictedStockUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Restricted Stock units member .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RestrictedStockUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Restricted Stock Units [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RestrictedStockUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted Stock units [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) operating activities [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForConsolidationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of accounting policy for consolidation.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForConsolidationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description Of Accounting Policy For Consolidation Policy [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForConsolidationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basis of consolidation</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfNonadjustingEventsAfterReportingPeriodAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of non-adjusting events after reporting period [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RestrictedAwardAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Restricted Award Agreement .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RestrictedAwardAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Restricted Award Agreement [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RestrictedAwardAgreementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted Award Agreement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive income, attributable to owners of parent</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Equity holders of the Company</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Foreign exchange gain (loss)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Foreign exchange differences</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2009/role/netLabel">Net foreign exchange gain (loss)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of number and weighted average exercise prices of share options [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of the Number and Weighted Average Exercise Prices Movements in Stock Options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Percentage of aggregate number of stock options shall vest on One Month at grant date .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Aggregate Number Of Stock Options Shall Vest On One Month At Grant Date</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of aggregate number of stock options shall vest on One Month at grant date</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Key management personnel compensation, share-based payment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of other current assets [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfOtherCurrentAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other current assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of instruments granted in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfInstrumentsGrantedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number Of Instruments Granted In Share based Payment Arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average remaining contractual life of outstanding share options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average remaining contractual life of outstanding share options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about future aggregate minimum payments under research and development commitments explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Future Aggregate Minimum Payments Under Research And Development Commitments Explanatory [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Future Aggregate Minimum Payments Under Research and Development Commitments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WagesAndSalaries_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Wages and salaries</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WagesAndSalaries_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Wages and salaries</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_MembersOfTheBoardMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Members of the board [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_MembersOfTheBoardMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Members Of The Board [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_MembersOfTheBoardMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Members of the board [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_UnlimitedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Unlimited.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_UnlimitedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unlimited [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_UnlimitedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unlimited [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about cash and cash equivalents explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Cash And Cash Equivalents Explanatory [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Cash And Cash Equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CityAreaCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CityAreaCode_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Valuation techniques used in fair value measurement [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Valuation techniques used in fair value measurement [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net (decrease) increase in cash and cash equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xlink:role="http://www.xbrl.org/2009/role/netLabel">Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Principal place of business of subsidiary</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legal seat</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net Loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Profit (loss)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Net loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Office leases</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Period End Date</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Taxes Abstract</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Income taxes.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ExercisePriceOfOutstandingShareOptions2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exercise price of outstanding share options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ExercisePriceOfOutstandingShareOptions2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of outstanding share options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Retained earnings</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total retained earnings</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Personnel expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Personnel expense.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Personnel Expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reserve of exchange differences on translation</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency translation reserve</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FunctionalOrPresentationCurrencyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Functional or presentation currency [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FunctionalOrPresentationCurrencyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Functional or presentation currency [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TravelExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Travel expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TravelExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Travel expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of financial assets and liabilities fair value explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialAssetsAndLabilitiesFairValueExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Financial Assets And Labilities Fair Value Explanatory</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfMaturityProfileOfAccruedLiabilitiesBasedOnContractualUndiscountedPaymentsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Maturity Profile of Accrued Liabilities Based on Contractual Undiscounted Payments</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity's total for subsidiaries [member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ClinicalAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Clinical accrued liabilities.</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ClinicalAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Clinical Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentPrepayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current prepayments</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ParValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Par value per share</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfAccruedLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of Accrued liabilities [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfAccruedLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Accrued Liabilities [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1814PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of $18.14 per share [Member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) financing activities</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForCashFlowsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for cash flows [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForCashFlowsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Notes to the cash flow statement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Fiscal Period Focus</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_InsuranceFacilitiesAndOfficeExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Insurance, facilities and office expenses</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Geographical areas [axis]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments to reconcile profit (loss) [abstract]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_LeaseAgreementTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Lease agreement term.</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TextBlock1Abstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Text block.</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Net deferred tax assets at December 31, 2021</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for segment reporting [text block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current payables on social security and taxes other than income tax</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for leases [text block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for issued capital [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityFileNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Securities Act File Number</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of property, plant and equipment [text block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DutchTaxLawMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Dutch tax law [Member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Number And Weighted Average Exercise Price Of Share Options.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosureofnumberandweightedaverageexercisepricesofshareoptions [Abstract]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NonCurrentProvisionsAndLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non Current Provisions And Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NonCurrentProvisionsAndLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non Current Provisions and Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of share options granted in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number stock options, Granted</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Average effective tax rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effective tax rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total average effective tax rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial instruments, class [member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Ending balance , Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Beginning balance , Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about future aggregate minimum payments under research and development commitments.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Future Aggregate Minimum Payments Under Research And Development Commitments [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of related party [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Related parties</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialAssetsAndLiabilitiesFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of financial assets and liabilities fair value.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialAssetsAndLiabilitiesFairValueAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Financial Assets And Liabilities Fair Value [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SharePremiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share premium [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SharePremiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share premium [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CounterpartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Counterparties [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CounterpartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Counterparties [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AuditorLocation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Auditor Location</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AuditorLocation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Auditor Location</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for trade and other receivables [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Receivables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Operating Loss Carry forwards (Table)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Operating Loss Carry Forwards [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Operating Loss Carry Forwards [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel">Deferred tax liability, balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel">Deferred tax liability, balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax liability.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Liability</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Deferred tax liability, balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Deferred tax liability, balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax effect of temporary differences for which no deferred tax assets has been recognized.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax Effect Of Temporary Differences For Which No Deferred Tax Assets Has Been Recognized</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Recognition of previously unrecognized deferred tax assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of detailed information about property, plant and equipment [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Property Plant And Equipment [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other accrued liabilities.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) investing activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash flows used in investing activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/netLabel">Net cash flows from (used in) investing activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred financing costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Financing Costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredFinancingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred financing costs.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxLossCarryForwardsRevisedYear_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax loss carry forwards revised year.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxLossCarryForwardsRevisedYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax Loss Carry Forwards Revised Year</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxLossCarryForwardsRevisedYear_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax loss carry forwards revised Year</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net Loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Profit (loss), attributable to owners of parent</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherCurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other current assets.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherCurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Current Assets [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of disaggregation of revenue from contracts with customers [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of maturity analysis of operating lease payments [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of financial position [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Long term-leases expense rent</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non-current lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-current lease liability</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Non-current Portion</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NumberOfInstrumentsGrantedDateFairValueInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares granted date fair value</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NumberOfInstrumentsGrantedDateFairValueInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Instruments Granted Date Fair Value In Sharebased Payment Arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NumberOfInstrumentsGrantedDateFairValueInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Number Of Instruments Granted Date Fair Value In Sharebased Payment Arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of detailed information about property, plant and equipment [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Property, Plant and Equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) financing activities [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financing activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RelatedPartyExpensesRecognizedInProfitAndLossAndOtherComprehensiveIncomePaidToExternalManagementEntities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Related party expenses recognized in loss and comprehensive loss paid to external management entities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RelatedPartyExpensesRecognizedInProfitAndLossAndOtherComprehensiveIncomePaidToExternalManagementEntities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Related party expenses recognized in profit and loss and other comprehensive income paid to external management entities.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RelatedPartyExpensesRecognizedInProfitAndLossAndOtherComprehensiveIncomePaidToExternalManagementEntities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Related Party Expenses Recognized In Profit And Loss And Other Comprehensive Income Paid To External Management Entities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Country of incorporation of subsidiary</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of cash flows [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Professional fees expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Professional fees</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Issued capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total issued capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForBasisOfPreparationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of accounting policy for Basis of preparation.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForBasisOfPreparationPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description Of Accounting Policy For Basis Of Preparation Policy [Text Block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ForeignExchangeGain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">foreign exchange gain</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ForeignExchangeGain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Foreign exchange gain</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current Fiscal Year End Date</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current Fiscal Year End Date</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrued liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_VotingRightsDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Voting rights description.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_VotingRightsDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Voting Rights Description</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_VotingRightsDescription_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voting rights description</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Interest expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest expense</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentAccountingStandard_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Accounting Standard</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BasicAndDilutedEarningsPerShare1Abstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Basic And Diluted Earnings Per Share 1 [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BasicAndDilutedEarningsPerShare1Abstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Basic And Diluted Earnings Per Share1 [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentAnnualReport_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Annual Report</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentAnnualReport_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Annual Report</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of share options exercisable in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfShareOptionsExercisableInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of share options exercisable in share-based payment arrangement</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IssueOfEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Issue of equity</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IssueOfEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issue of share capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSummaryOfSignificantAccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of summary of significant accounting policies.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSummaryOfSignificantAccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Summary Of Significant Accounting Policies [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of leases [text block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Decrease (increase) in receivables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for decrease (increase) in trade accounts receivable</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Key management personnel of entity or parent [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Key management personnel of entity or parent [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisHoldingsBvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pharvaris Holdings BV [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisHoldingsBvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pharvaris Holdings B.V.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisHoldingsBvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pharvaris Holdings Bv [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Fair Value Per Ordinary Share Pre-IPO at the Grant Based Upon Equity Value</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SaleOrIssueOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale or issue of shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SaleOrIssueOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Sale Or Issue Of Shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SaleOrIssueOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Sale or issue of shares.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of risk management strategy related to hedge accounting [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Risk Management Strategy Related To Hedge Accounting [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) investing activities [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Investing activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AddressTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Address Type [Domain]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AddressTypeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Address Type</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TransfersOfResearchAndDevelopmentFromEntityRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Transfers of research and development from entity, related party transactions</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TransfersOfResearchAndDevelopmentFromEntityRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments for services supporting research</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Currency risk [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency risk [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeaseLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of lease liabilities line items.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeaseLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Lease Liabilities [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeaseLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Lease Liabilities [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1798PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of $17.98 per share [Member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of finance income [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Finance Income</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current assets [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfOtherProvisionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of other provisions [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of general and administrative expense [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfGeneralAndAdministrativeExpenseExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">General and administrative expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for financial instruments [text block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_AuditorName_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Auditor Name</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OptionOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Option 1.</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Filer Category</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCurrentReportingStatus_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Current Reporting Status</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of significant accounting policies [text block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithPartiesOtherThanEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Expense from share-based payment transactions with parties other than employees</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_IcfrAuditorAttestationFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label">ICFR Auditor Attestation Flag</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reserve of exchange differences on translation [member]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of lease liabilities.</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total lease payments</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash and cash equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of maturity analysis of operating lease payments [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for property, plant and equipment [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Property, Plant and Equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of maturity analysis of operating lease payments [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Estimated financial effect of contingent assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contingent assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of classes of share capital [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Share Capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trade payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade payables to suppliers</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Major components of tax expense (income) [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OptionTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Option 2.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OptionTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Option Two [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OptionTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Option 2 [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RecognisedLossesOfDeferredTaxAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Current period losses for which no deferred tax asset has been recognized</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RecognisedLossesOfDeferredTaxAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Recognised losses of deferred tax asset.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RecognisedLossesOfDeferredTaxAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Recognised Losses Of Deferred Tax Asset</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProceedsFromIssuingShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from issuing shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProceedsFromIssuingShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issue of shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Depreciation, property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Depreciation expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">(Increase) decrease in other current assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for decrease (increase) in other current assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Maturities of Lease Liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfMaturityAnalysisOfOperatingLeasePaymentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of maturity analysis of operating lease payments [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesAuthorised_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of shares authorised</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesAuthorised_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares authorized</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average exercise price of share options exercised in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercised , Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Components of equity [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Components of equity [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of other provisions, contingent liabilities and contingent assets [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contingent liabilities and contingent assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OfficeLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Office lease.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OfficeLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Office Lease [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OfficeLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Office Lease</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of number and weighted average exercise prices of other equity instruments [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of the Number and Weighted Average Purchase Prices Movements in RSU</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CounterpartiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Counterparties [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CounterpartiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Counterparties [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of shares outstanding</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares outstanding</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Number of shares outstanding at beginning of period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Number of shares outstanding at end of period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForGoingConcernPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of accounting policy for Going concern.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForGoingConcernPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description Of Accounting Policy For Going Concern Policy [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForGoingConcernPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Going concern</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for determining components of cash and cash equivalents [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash and cash equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Key management personnel compensation, post-employment benefits</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Post employee benefits</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherSocialSecurityCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Other social security charges.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherSocialSecurityCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other Social Security Charges</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_OtherSocialSecurityCharges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Other social security charges</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityVoluntaryFilers_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Voluntary Filers</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityVoluntaryFilers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Voluntary Filers</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of detailed information about property, plant and equipment [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentTransitionReport_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Transition Report</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentTransitionReport_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Transition Report</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfStockOptionsVestOnEachMonth_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Percentage of stock options vest on each month.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfStockOptionsVestOnEachMonth_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Stock Options Vest On Each Month</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfStockOptionsVestOnEachMonth_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of stock options vest on each month</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Finance income (cost)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Finance income / (expenses)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total finance (expenses)/income</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Products and services [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Products and services [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Profit (loss) from operating activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Loss before income tax</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of operating loss carry forwards.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Operating Loss Carry Forwards [Text Block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) operating activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash flows used in operating activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/netLabel">Net cash flows from (used in) operating activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdditionsToRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additions</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdditionsToRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Additions to right-of-use assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Common Stock, Shares Outstanding</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Common Stock, Shares Outstanding</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FacilityCommunicationAndOfficeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total expense related to short-term and low-value leases</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FacilityCommunicationAndOfficeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Facility Communication And Office Expenses</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CurrentTaxPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Current tax payable.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CurrentTaxPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current Tax Payable</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CurrentTaxPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current tax payable</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ManufacturingAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Manufacturing accrued liabilities.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ManufacturingAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Manufacturing Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ManufacturingAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Manufacturing Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SharePremium_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share premium</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SharePremium_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share premium</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Assets at beginning of period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Assets at end of period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of components of income tax expense benefit.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Components Of Income Tax Expense Benefit [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Income Tax Expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reconciliation of average effective tax rate and applicable tax rate [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of changes in equity [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SettlementOfShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Settlement of share-based payments.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SettlementOfShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Settlement Of Share Based Payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SettlementOfShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Settlement of share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for income tax expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income taxes paid</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Information [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Information [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of share options outstanding in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Number stock options, Ending balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Number stock options, Beginning balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of share options outstanding in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about future aggregate minimum payments under research and development commitments.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Future Aggregate Minimum Payments Under Research And Development Commitments [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Detailed Information About Future Aggregate Minimum Payments Under Research And Development Commitments [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="country_CH_lbl" xlink:role="http://www.xbrl.org/2003/role/label">SWITZERLAND</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="country_CH_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SWITZERLAND</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive income</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total comprehensive income</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Effect of exchange rate changes on cash and cash equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of exchange rate changes</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of research and development expense [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfResearchAndDevelopmentExpenseExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Research and development expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Employee benefits expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Employee benefits expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total employee benefits expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherReserves_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other reserves</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherReserves_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other reserves</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average exercise price of share options forfeited in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Forfeited , Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_Security12bTitle_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Title of 12(b) Security</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_Security12bTitle_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Title of 12(b) Security</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash flows from (used in) operations</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash flows from (used in) operations</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:role="http://www.xbrl.org/2009/role/netLabel">Net cash flows from (used in) operations</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Percentage of aggregate number of stock options shall vest on one year at grant date .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Aggregate Number Of Stock Options Shall Vest On One Year At Grant Date</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneYearAtGrantDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of aggregate number of stock options shall vest on one year at grant date</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of other equity instruments outstanding in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Number of RSUs, Ending balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Number of RSUs, Beginning balance</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FairValueOfTheOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value of the options .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FairValueOfTheOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of The Options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FairValueOfTheOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of the options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of share-based payment arrangements [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxLossCarryForwardsYear_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax loss carry forwards year.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxLossCarryForwardsYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax Loss Carry Forwards Year</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxLossCarryForwardsYear_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax loss carry forwards Year</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Property, plant and equipment [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Property, plant and equipment [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_Phase2DevelopmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Phase 2 development.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_Phase2DevelopmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Phase2 Development [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_Phase2DevelopmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Phase2 Development [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ManufacturingCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Manufacturing costs [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ManufacturingCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Manufacturing costs.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ManufacturingCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Manufacturing Costs [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of disaggregation of revenue from contracts with customers [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Disclosure of disaggregation of revenue from contracts with customers [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Type</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Type</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Research and development expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Research and development expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity's total for related parties [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity's total for related parties [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ClinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Clinical expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ClinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Clinical Expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ClinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Clinical expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ClinicalExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Clinical expenses Member</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Operating Loss Carry forwards [Line Item]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Operating Loss Carry Forwards [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Operating Loss Carry Forwards [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Subsidiaries [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Subsidiaries [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AccountingProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accounting profit</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AccountingProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loss before income tax</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TradeAndOtherPayablesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trade and other payables [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Shell Company</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Shell Company</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxYear2028Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax year 2028.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxYear2028Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax Year2028 [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxYear2028Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax Year 2028 [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FinancialRiskManagementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Financial risk management.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FinancialRiskManagementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial Risk Management [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Bottom of range [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bottom of range [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_SecurityExchangeName_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_SecurityExchangeName_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LeaseLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Lease liabilities [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxYear2029Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax Year 2029 [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxYear2029Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax year 2029.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liquidity risk [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liquidity risk [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of events after reporting period [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Events after the reporting period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfPersonnelExpensesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of personnel expenses explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfPersonnelExpensesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Personnel Expenses Explanatory [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfPersonnelExpensesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Personnel expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForSignificantAccountingJudgementsEstimatesAndAssumptionsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of accounting policy for significant accounting judgements, estimates and assumptions.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForSignificantAccountingJudgementsEstimatesAndAssumptionsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description Of Accounting Policy For Significant Accounting Judgements Estimates And Assumptions Policy [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForSignificantAccountingJudgementsEstimatesAndAssumptionsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Significant accounting judgements estimates and assumptions</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentRegistrationStatement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Registration Statement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentRegistrationStatement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Registration Statement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Useful life measured as period of time, property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Useful life , property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax liability recognised in profit or loss.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Liability Recognised In Profit Or Loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Profit or loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of financial liabilities [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Financial Liabilities [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Indirect Measurement Of Fair Value Of Goods Or Services Received Share Options Granted During Period [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2023</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Not later than one year [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Not later than one year [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BlackScholesFormulaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Black Scholes Formula [member].</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BlackScholesFormulaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Black Scholes Formula [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_BlackScholesFormulaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Black-Scholes formula [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for trade and other payables [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Products and services [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Products and services [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of significant unobservable inputs used in fair value measurement of assets [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressCountry_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Country</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityAddressCountry_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address Country</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AccrualsClassifiedAsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accruals classified as current</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AccrualsClassifiedAsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrued liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_ContactPersonnelName_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Contact Personnel Name</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_ContactPersonnelName_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contact Personnel Name</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Cash_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Cash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Cash_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total cash</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other comprehensive loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PreclinicalAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pre-clinical&#160;accrued liabilities.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PreclinicalAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Preclinical Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PreclinicalAccruedLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preclinical Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of detailed information about financial instruments [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Expected volatility, share options granted</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expected volatility</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Classes of financial instruments [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive income attributable to [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total comprehensive loss attributable to:</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProceedsFromIssueOfOrdinaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issue of ordinary shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProceedsFromIssueOfOrdinaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from issue of ordinary shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProceedsFromExerciseOfOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from exercise of options</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Risk free interest rate, share options granted</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Risk-free interest rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Assets [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_MaturityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Maturity [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_MaturityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IntellectualPropertyCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Intellectual Property costs [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IntellectualPropertyCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Intellectual property costs.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IntellectualPropertyCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Intellectual Property Costs [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of other equity instruments granted in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of RSUs, Granted</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Accruals_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Accruals</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Accruals_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrued liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ordinary Shares [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Ordinary shares [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Proportion of ownership interest in subsidiary</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">% of equity interest</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of significant accounting policies.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Significant Accounting Policies [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Significant Accounting Policies [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxAuthorityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Income tax authority.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxAuthorityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Authority [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxAuthorityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income Tax Authority Member</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBasisAndDilutedLossPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic and diluted loss per share</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBasisAndDilutedLossPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of basis and diluted loss per share.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBasisAndDilutedLossPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Basis And Diluted Loss Per Share</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1439PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of $14.39 per share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1439PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exercise Price of $14.39 Per Share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1439PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exercise price of $14.39 per share.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ResearchAndDevelopmentExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Research And Development Expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ResearchAndDevelopmentExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Research And Development Expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ResearchAndDevelopmentExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Research And Development Expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of subsidiaries [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Significant Investments In Subsidiaries [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Types of risks [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Types of risks [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Carrying amount [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying amount [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Key management personnel compensation, short-term employee benefits</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Short term employee benefits</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Central Index Key</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfContractsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Types of contracts [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfContractsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Types of contracts [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsCurrencyTranslationDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax assets currency translation differences.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsCurrencyTranslationDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Assets Currency Translation Differences</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsCurrencyTranslationDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Currency translation differences</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReceivablesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of receivables explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReceivablesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Receivables Explanatory [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReceivablesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Receivables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Gross carrying amount [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative Costs [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share issue related cost</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Transaction costs on issue of shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DepreciationPropertyPlantAndEquipmentAndShortTermLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Depreciation expenses related to property, plant and equipment and short-term leases</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DepreciationPropertyPlantAndEquipmentAndShortTermLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Depreciation Property Plant And Equipment And Short Term Leases</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DepreciationPropertyPlantAndEquipmentAndShortTermLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Depreciation on property plant and equipment and short term leases.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of classes of share capital [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxAuthority1Axis_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Income Tax Authority 1 [Axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxAuthority1Axis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Authority1 [Axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncomeTaxAuthority1Axis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income Tax Authority1</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of subsidiaries [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Subsidiaries</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Additions other than through business combinations, property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additions</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Acquired assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for share-based payment transactions [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current trade receivables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade receivables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of significant accounting policies.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Significant Accounting Policies [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisNetherlandsBvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pharvaris Netherlands BV [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisNetherlandsBvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pharvaris Netherlands B.V.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PharvarisNetherlandsBvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pharvaris Netherlands Bv [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialRiskManagementExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of financial risk management [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialRiskManagementExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial risk management</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOfEur238PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of EUR2.38 per share[Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOfEur238PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exercise Price of EUR2.38 Per Share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOfEur238PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exercise price of EUR2.38 per share.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of reconciliation of changes in deferred tax liability asset explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset Explanatory [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Movements in Deferred Tax Balances</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of detailed information about property, plant and equipment [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Property Plant And Equipment [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrencyInWhichInformationIsDisplayedAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Currency in which information is displayed [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrencyInWhichInformationIsDisplayedAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency in which information is displayed [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of effective income tax rate reconciliation.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Effective Income Tax Rate Reconciliation [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Reconciliation of Income Tax Benefit / (Expense) And The Accounting Loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Right of use assets impact of transaction of foreign currency.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Right Of Use Assets Impact Of Transaction Of Foreign Currency</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Impact of transaction of foreign currency</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Percentage of aggregate number of stock options shall vest on last day .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Percentage Of Aggregate Number Of Stock Options Shall Vest On Last Day</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of aggregate number of stock options shall vest on last day</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentInformationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Information [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentInformationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Information [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Name of subsidiary</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Name</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of financial income.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfFinancialIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Financial Income [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current tax expense (income)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Current income tax expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Estimated financial effect of contingent liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contingent liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [line Item]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Option life, share options granted</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expected life</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of classes of share capital [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Classes Of Share Capital [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Amounts payable, related party transactions</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount of outstanding payable</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeasesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of lease abstract.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeasesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Leases [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average incremental borrowing rate applied to the lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_UnusedTaxLossesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Unused tax losses [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_UnusedTaxLossesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax losses [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total operating expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total operating expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Operating expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Total operating expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Key management personnel compensation</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_KeyManagementPersonnelCompensation_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Interactive Data Current</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Interactive Data Current</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Retained earnings [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated losses [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non-current assets [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-current assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Assets [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred tax assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CorporateAndGroupInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Corporate and group information.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CorporateAndGroupInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Corporate And Group Information [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CorporateAndGroupInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Corporate And Group Information Line Items</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase (decrease) through share-based payment transactions, equity</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FairValueOfTheOrdinaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Fair value of the ordinary shares .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FairValueOfTheOrdinaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of The Ordinary Shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FairValueOfTheOrdinaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of the ordinary shares</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of other equity instruments exercised or vested in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Number of RSUs, Vested</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Forfeited , Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of significant accounting policies.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Significant Accounting Policies [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Significant Accounting Policies [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest rate risk [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Risk [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RangesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Ranges [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RangesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ranges [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Payment of principal portion of lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Decrease in financial lease liability</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments of lease liabilities, classified as financing activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Payments of lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of share capital, reserves and other equity interest [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxEffectOnTransactionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax effect on transaction costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxEffectOnTransactionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax Effect on Transaction Costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_TaxEffectOnTransactionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax effect on transaction costs.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of commitments and contingent liabilities [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commitments and contingencies</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ChangesInDeferredTaxAssetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">(Charged)/credited</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ChangesInDeferredTaxAssetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Changes In Deferred Tax Asset [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ChangesInDeferredTaxAssetAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">(Charged)/credited</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentShellCompanyReport_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Shell Company Report</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentShellCompanyReport_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Shell Company Report</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax liability currency translation differences.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Liability Currency Translation Differences</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Currency translation differences</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share-based payments.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SensitivityAnalysisIncreaseInExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase in exchange rate (in percentage)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SensitivityAnalysisIncreaseInExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Sensitivity Analysis Increase In Exchange Rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_SensitivityAnalysisIncreaseInExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Sensitivity analysis increase in exchange rate.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities arising from financing activities [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities arising from financing activities [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1743PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of $17.43 per share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1743PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exercise Price of $17.43 Per Share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf1743PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exercise price of $17.43 per share.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of information about key management personnel.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Information About Key Management Personnel [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Information About Key Management Personnel [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AdjustmentForInterestReceivedPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Adjustment for interest received (paid) to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AdjustmentForInterestReceivedPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustment For Interest Received Paid</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AdjustmentForInterestReceivedPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Paid interest</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfCorporateAndGroupInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of corporate and group information.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfCorporateAndGroupInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Corporate And Group Information [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Types of share-based payment arrangements [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Types of share-based payment arrangements [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBreakdownOfResearchAndDevelopmentExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Breakdown Of Research And Development expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBreakdownOfResearchAndDevelopmentExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Breakdown Of Research And Development Expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBreakdownOfResearchAndDevelopmentExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of Breakdown of Research and Development Expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashOnHand_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash on hand</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Range [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Range [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ChangesInDeferredTaxLiabilityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Changes In Deferred Tax Liability [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ChangesInDeferredTaxLiabilityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">(Charged)/credited</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityIncorporationDateOfIncorporation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation, Date of Incorporation</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityIncorporationDateOfIncorporation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity incorporation, date of incorporation</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Personnel expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Personnel Expenses [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Document Fiscal Year Focus</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Fiscal Year Focus</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Later than one year and not later than five years [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Later than one year and not later than five years [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ConsultingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Consulting fees.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ConsultingFees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Consulting Fees</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ConsultingFees_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Consulting fees</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about finance income.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Finance Income Explanatory</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Finance Income</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">General and administrative expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">General and administrative expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average number of ordinary shares used in calculating diluted earnings per share</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average number of ordinary shares outstanding</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other current assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other current assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Financial liabilities, class [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial liabilities, class [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash and cash equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Cash and cash equivalents at the end of the year</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Cash and cash equivalents at the beginning of the year</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash and cash equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total cash and cash equivalents</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForNewAndAmendedStandardsAndInterpretationsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of accounting policy for new and amended standards and interpretations.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForNewAndAmendedStandardsAndInterpretationsPolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description Of Accounting Policy For New And Amended Standards And Interpretations Policy [Text Block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Aggregated measurement [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregated measurement [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of other equity instruments forfeited in share-based payment arrangement</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TaxEffectOfTaxLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax effect of tax losses</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ConsultingProfessionalAndAuditLiabilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Consulting, professional and audit liability.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ConsultingProfessionalAndAuditLiabilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Consulting Professional And Audit Liability [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ConsultingProfessionalAndAuditLiabilityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consulting Professional And Audit Liability [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AnalytiConMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">AnalytiCon.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AnalytiConMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Analyti Con [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AnalytiConMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Analyti Con [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Risks [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Risks [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_Thereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Thereafter</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_Thereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Thereafter</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Issued capital [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share capital [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfAccruedLiabilitiesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accrued liabilities explanatory.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfAccruedLiabilitiesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Accrued Liabilities Explanatory [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfAccruedLiabilitiesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Accrued Liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Classes of share capital [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Classes of share capital [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfCommitmentsAndContingenciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of commitments and contingencies.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfCommitmentsAndContingenciesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Commitments And Contingencies [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Classes of financial liabilities [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Classes of financial liabilities [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf20PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of $20 per share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf20PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exercise Price of $20 Per Share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOf20PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exercise price of $20 per share.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FacilitiesCommunicationandOfficeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Facilities, communication&#160;and office expense.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FacilitiesCommunicationandOfficeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Facilities Communicationand Office Expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FacilitiesCommunicationandOfficeExpense_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Facilities, communication and office expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non-current liabilities [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long term liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TopOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Top of range [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TopOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Top Of Range [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Less: imputed interest</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_InterestExpenseOnLeaseLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Interest expense on lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of breakdown of general and administrative expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Breakdown Of General And Administrative Expenses [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Breakdown of General and Administrative Expenses</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reconciliation of accounting profit multiplied by applicable tax rates [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_GuaranteeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Guarantee [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_GuaranteeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Guarantee [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_GuaranteeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Guarantee.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of changes in equity [table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement Of Changes In Equity [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred tax assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred tax assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Deferred tax assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_CoverAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cover [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageSharePrice2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average share price</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageSharePrice2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average share price</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of earnings per share [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfEarningsPerShareExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Earnings Per Share</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_StatementOfLineitemsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">statement of Lineitems .</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_StatementOfLineitemsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement Of Lineitems [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_StatementOfLineitemsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement Of Lineitems [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_MeasurementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Measurement [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_MeasurementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Measurement [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PotentialMilestonePaymentsOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Potential milestone payments outstanding</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PotentialMilestonePaymentsOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Potential Milestone Payments Outstanding</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PotentialMilestonePaymentsOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Potential milestone payments remaining outstanding.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentslLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about future aggregate minimum payments under research and development commitments.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentslLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Future Aggregate Minimum Payments Under Research And Development Commitmentsl [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutFutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitmentslLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Detailed Information About Future Aggregate Minimum Payments Under Research And Development Commitmentsl [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfContingentLiabilitiesAndContingentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of contingent and liabilities contingent assets.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfContingentLiabilitiesAndContingentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of Contingent Liabilities and Contingent Assets [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income, net of tax, exchange differences on translation of foreign operations</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency translation reserve</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Other comprehensive income, net of tax, exchange differences on translation of foreign operations</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax assets recognised in profit or loss.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Assets Recognised In Profit Or Loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Profit or loss</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CharitResearchOrganisationGmbhMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Charit&#233; research organisation GmbH.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CharitResearchOrganisationGmbhMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Charit Research Organisation Gmbh [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_CharitResearchOrganisationGmbhMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charit Research Organisation GMBH[Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Non-adjusting events after reporting period [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-adjusting events after reporting period [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Cash and cash equivalents [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total liabilities</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Liabilities at end of period</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current liabilities [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RentExpenseRelatedToLongTermLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rent expense related to long term leases</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_RentExpenseRelatedToLongTermLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Rent expense related to long term leases</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PaymentsForShareIssueCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments for share issue costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PaymentsForShareIssueCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Payments for share issue costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PaymentsForShareIssueCosts_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Transaction costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Operating Loss Carry forwards (Abstract)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Operating Loss Carry Forwards [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax effect from change in tax rate</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Tax effect from change in taxable income</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for income tax [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current and deferred income tax</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="country_NL_lbl" xlink:role="http://www.xbrl.org/2003/role/label">NETHERLANDS</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="country_NL_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">NETHERLANDS</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationAboutReceivablesExplanatoryTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Receivables Explanatory [Text Block]</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of shares issued and fully paid</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares issued and fully paid</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_NetProceedsFromInitialPublicOffering_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Net proceeds from initial public offering.</link:label>
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    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Significant Investments In Subsidiaries Line Items</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current tax benefit directly recognized in equity</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CurrentTaxRelatingToItemsChargedOrCreditedDirectlyToEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Current tax relating to items credited (charged) directly to equity</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information research and development expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information Research And Development Expenses [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of transactions between related parties [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of financial liabilities [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Financial Liabilities [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Statement of changes in equity [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement Of Changes In Equity [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Number of employees</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_NumberOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of employees</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity and liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total equity and liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">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]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">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]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of quantitative information about right-of-use assets [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of information about right of use assets</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payment expense</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average exercise price of share options granted in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Granted , Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CreditRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Credit risk [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_CreditRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit risk [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeaseLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of lease liabilities table.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeaseLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Lease Liabilities [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfLeaseLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Lease Liabilities [Table]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of accounting policy for standards issued but not yet effective.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description Of Accounting Policy For Standards Issued But Not Yet Effective Policy [Text Block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Standards issued but not yet effective</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share-based payment arrangements [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payment arrangements [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Description of accounting policy for foreign currency translation [text block]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Foreign currencies</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Aggregated time bands [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregated time bands [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Future aggregate minimum payments under research and development commitments.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Future Aggregate Minimum Payments Under Research And Development Commitments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_FutureAggregateMinimumPaymentsUnderResearchAndDevelopmentCommitments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Future aggregate minimum payments under research and development commitments</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Other tax effects for reconciliation between accounting profit and tax expense (income)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncreaseInParValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Increase in par value.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncreaseInParValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Increase In Par Value</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_IncreaseInParValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase in par value</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for increase (decrease) in trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase in trade and other payables</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity and liabilities [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity and liabilities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure of detailed information about financial instruments [line items]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOfEur725PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercise price of EUR 7,25 per share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOfEur725PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Exercise Price of EUR 7,25 Per Share [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ExercisePriceOfEur725PerShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Exercise price of eur 7,25 per share</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Purchase of property, plant and equipment, classified as investing activities</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Purchase of property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Purchase of property, plant and equipment</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForFinanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments for finance costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_AdjustmentsForFinanceCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Finance costs</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanThreeYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Thereafter</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanThreeYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Later than three years [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ShareOptionsVestingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Share options vesting.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ShareOptionsVestingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Share Options Vesting [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_ShareOptionsVestingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share Options Vesting [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Income tax (expense) / benefit</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Income tax benefit / (expense)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Tax expense (income)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Income tax benefit / (expense)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Tax income (expense)</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Weighted average exercise price of share options outstanding in share-based payment arrangement</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Ending balance, Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Beginning balance, Weighted average</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Reconciliation of average effective tax rate and applicable tax rate [abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Expense from share-based payment transactions with employees</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Expense from share-based payment transactions</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AuthorizedShareCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Authorized share capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AuthorizedShareCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Authorized Share Capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_AuthorizedShareCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Authorized share capital</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfExpensesByNatureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of expenses by nature.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_DisclosureOfExpensesByNatureAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Expenses By Nature [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">2025</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Later than two years and not later than three years [member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Entity Well-known Seasoned Issuer</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Entity Well-known Seasoned Issuer</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Personnel expenses.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Personnel Expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Personnel expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PersonnelExpensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Personnel expenses Member</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PensionCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation">Pension charges.</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PensionCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Pension Charges</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="phvs_PensionCharges_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Pension charges</link:label>
    <link:label xml:lang="en-US" xlink:type="resource" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/label">Equity</link:label>
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