With more than 1 billion people worldwide living with some type of chronic pain, a large unmet medical need for safe and effective analgesics exists. Traditional non-steroidal anti-inflammatory drugs (NSAIDs) are the most widely used drugs to treat pain and inflammation associated with osteoarthritis, but their use is limited by adverse effects on gastrointestinal and platelet function, as well as increased cardiovascular liability. Levicept Ltd is an asset-centric UK-based biotechnology company developing a novel, safe and efficacious biological therapy (LEVI-04 [p75NTR-Fc]) for the treatment of chronic pain. We are progressing LEVI-04 to phase I clinical trials to test its efficacy and safety in patients with osteoarthritis.