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<!-- DFIN ActiveDisclosure(SM) XBRL Linkbase Document - http://www.dfinsolutions.com/ -->
<!-- Creation Date      : 2022-03-29T07:59:48.5913399+00:00 -->
<!-- Version            : 5.0.1.728 -->
<!-- Package ID         : c3c6dd8aa48243768f34e8ab01fce6cf -->
<!-- Copyright (c) 2022 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityShellCompany" xlink:type="locator" xlink:label="dei_EntityShellCompany" />
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    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address Address Line1</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address City Or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCountry" xlink:type="locator" xlink:label="dei_EntityAddressCountry" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCountry_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address Country</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCountry_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address Country</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_ContactPersonnelName" xlink:type="locator" xlink:label="dei_ContactPersonnelName" />
    <link:label xml:lang="en-US" xlink:label="dei_ContactPersonnelName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Contact Personnel Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_ContactPersonnelName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Contact Personnel Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentAnnualReport" xlink:type="locator" xlink:label="dei_DocumentAnnualReport" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentAnnualReport_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Annual Report</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentAnnualReport_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Annual Report</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentTransitionReport" xlink:type="locator" xlink:label="dei_DocumentTransitionReport" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentTransitionReport_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Transition Report</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentTransitionReport_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Transition Report</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentShellCompanyReport" xlink:type="locator" xlink:label="dei_DocumentShellCompanyReport" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentShellCompanyReport_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Shell Company Report</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentShellCompanyReport_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Shell Company Report</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentRegistrationStatement" xlink:type="locator" xlink:label="dei_DocumentRegistrationStatement" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentRegistrationStatement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Registration Statement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentRegistrationStatement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Registration Statement</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Title of 12(b) Security</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AuditorFirmId" xlink:type="locator" xlink:label="dei_AuditorFirmId" />
    <link:label xml:lang="en-US" xlink:label="dei_AuditorFirmId_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Auditor Firm ID</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorFirmId" xlink:to="dei_AuditorFirmId_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AuditorFirmId_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Auditor Firm Id</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AuditorName" xlink:type="locator" xlink:label="dei_AuditorName" />
    <link:label xml:lang="en-US" xlink:label="dei_AuditorName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Auditor Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorName" xlink:to="dei_AuditorName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AuditorName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Auditor Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AuditorLocation" xlink:type="locator" xlink:label="dei_AuditorLocation" />
    <link:label xml:lang="en-US" xlink:label="dei_AuditorLocation_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Auditor Location</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditorLocation" xlink:to="dei_AuditorLocation_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AuditorLocation_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Auditor Location</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_BasicAndDilutedEarningsLossPerShare1" xlink:type="locator" xlink:label="phvs_BasicAndDilutedEarningsLossPerShare1" />
    <link:label xml:lang="en-US" xlink:label="phvs_BasicAndDilutedEarningsLossPerShare1_lbl" xlink:type="resource" 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:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_BasicAndDilutedEarningsLossPerShare1" xlink:to="phvs_BasicAndDilutedEarningsLossPerShare1_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncomeStatementAbstract" xlink:type="locator" xlink:label="ifrs-full_IncomeStatementAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Income Statement [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ResearchAndDevelopmentExpense" xlink:type="locator" xlink:label="ifrs-full_ResearchAndDevelopmentExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Research and development expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ResearchAndDevelopmentExpense" xlink:to="ifrs-full_ResearchAndDevelopmentExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ResearchAndDevelopmentExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Research And Development Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:type="locator" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">General and administrative expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">General And Administrative Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OperatingExpense" xlink:type="locator" xlink:label="ifrs-full_OperatingExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Total operating expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Operating Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinanceIncomeCost" xlink:type="locator" xlink:label="ifrs-full_FinanceIncomeCost" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Finance income / (expenses)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FinanceIncomeCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Finance Income Cost</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:type="locator" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Loss before income tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLossFromOperatingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Profit Loss From Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Income tax benefit / (expenses)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Expense Continuing Operations</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLoss" xlink:type="locator" xlink:label="ifrs-full_ProfitLoss" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Loss for the year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Profit Loss</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncomeAbstract" xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other comprehensive income/(loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" xlink:type="locator" xlink:label="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Exchange gain / (loss) arising on translation of foreign operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax" xlink:to="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ReclassificationAdjustmentsOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Reclassification Adjustments On Exchange Differences On Translation Net Of Tax</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total comprehensive loss attributable to:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive Income Attributable To [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Equity holders of the Company</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:type="resource" 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:label="phvs_BasicAndDilutedEarningsLossPerShare1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic and diluted loss per share</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_BasicAndDilutedEarningsLossPerShare1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Basic And Diluted Earnings Loss Per Share1</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_CurrentDeferredTaxAssets" xlink:type="locator" xlink:label="phvs_CurrentDeferredTaxAssets" />
    <link:label xml:lang="en-US" xlink:label="phvs_CurrentDeferredTaxAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Current deferred tax assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_CurrentDeferredTaxAssets" xlink:to="phvs_CurrentDeferredTaxAssets_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_CurrentTaxPayable" xlink:type="locator" xlink:label="phvs_CurrentTaxPayable" />
    <link:label xml:lang="en-US" xlink:label="phvs_CurrentTaxPayable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Current tax payable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_CurrentTaxPayable" xlink:to="phvs_CurrentTaxPayable_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="locator" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Statement Of Financial Position [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ifrs-full_StatementOfFinancialPositionAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AssetsAbstract" xlink:type="locator" xlink:label="ifrs-full_AssetsAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentAssetsAbstract" xlink:type="locator" xlink:label="ifrs-full_NoncurrentAssetsAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Noncurrent Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:type="locator" xlink:label="ifrs-full_PropertyPlantAndEquipment" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RightofuseAssets" xlink:type="locator" xlink:label="ifrs-full_RightofuseAssets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Right of use assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RightofuseAssets" xlink:to="ifrs-full_RightofuseAssets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Rightofuse Assets</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentAssetsAbstract" xlink:type="locator" xlink:label="ifrs-full_CurrentAssetsAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsAbstract" xlink:to="ifrs-full_CurrentAssetsAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentAssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Assets [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_CurrentDeferredTaxAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred tax assets</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_CurrentDeferredTaxAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Deferred Tax Assets</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trade And Other Current Receivables</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherCurrentAssets" xlink:type="locator" xlink:label="ifrs-full_OtherCurrentAssets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentAssets" xlink:to="ifrs-full_OtherCurrentAssets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Current Assets</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashAndCashEquivalents" xlink:type="locator" xlink:label="ifrs-full_CashAndCashEquivalents" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash and cash equivalents</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash And Cash Equivalents</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Assets" xlink:type="locator" xlink:label="ifrs-full_Assets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Assets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Assets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Assets</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity and liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Equity And Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAbstract" xlink:type="locator" xlink:label="ifrs-full_EquityAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssuedCapital" xlink:type="locator" xlink:label="ifrs-full_IssuedCapital" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Issued Capital</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SharePremium" xlink:type="locator" xlink:label="ifrs-full_SharePremium" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_SharePremium_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share premium</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremium" xlink:to="ifrs-full_SharePremium_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_SharePremium_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Share Premium</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherReserves" xlink:type="locator" xlink:label="ifrs-full_OtherReserves" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherReserves_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other reserves</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReserves" xlink:to="ifrs-full_OtherReserves_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherReserves_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Reserves</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:type="locator" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency translation reserve</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfExchangeDifferencesOnTranslation" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslation_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Reserve Of Exchange Differences On Translation</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RetainedEarnings" xlink:type="locator" xlink:label="ifrs-full_RetainedEarnings" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RetainedEarnings_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RetainedEarnings_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Equity" xlink:type="locator" xlink:label="ifrs-full_Equity" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Equity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Equity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Equity</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentLiabilitiesAbstract" xlink:type="locator" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long term liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Noncurrent Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NoncurrentLeaseLiabilities" xlink:type="locator" xlink:label="ifrs-full_NoncurrentLeaseLiabilities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-current lease liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLeaseLiabilities" xlink:to="ifrs-full_NoncurrentLeaseLiabilities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Noncurrent Lease Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentLiabilitiesAbstract" xlink:type="locator" xlink:label="ifrs-full_CurrentLiabilitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilitiesAbstract" xlink:to="ifrs-full_CurrentLiabilitiesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade and other payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayables" xlink:to="ifrs-full_TradeAndOtherCurrentPayables_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trade And Other Current Payables</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AccrualsClassifiedAsCurrent" xlink:type="locator" xlink:label="ifrs-full_AccrualsClassifiedAsCurrent" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AccrualsClassifiedAsCurrent_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccrualsClassifiedAsCurrent" xlink:to="ifrs-full_AccrualsClassifiedAsCurrent_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AccrualsClassifiedAsCurrent_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Accruals Classified As Current</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentLeaseLiabilities" xlink:type="locator" xlink:label="ifrs-full_CurrentLeaseLiabilities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current lease liability</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLeaseLiabilities" xlink:to="ifrs-full_CurrentLeaseLiabilities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Lease Liabilities</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_CurrentTaxPayable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current tax payable</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_CurrentTaxPayable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Tax Payable</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Liabilities" xlink:type="locator" xlink:label="ifrs-full_Liabilities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Liabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Liabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityAndLiabilities" xlink:type="locator" xlink:label="ifrs-full_EquityAndLiabilities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total equity and liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Equity And Liabilities</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_IncreaseInParValue" xlink:type="locator" xlink:label="phvs_IncreaseInParValue" />
    <link:label xml:lang="en-US" xlink:label="phvs_IncreaseInParValue_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Increase in par value.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_IncreaseInParValue" xlink:to="phvs_IncreaseInParValue_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_SettlementOfShareBasedPayments" xlink:type="locator" xlink:label="phvs_SettlementOfShareBasedPayments" />
    <link:label xml:lang="en-US" xlink:label="phvs_SettlementOfShareBasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Settlement of share-based payments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_SettlementOfShareBasedPayments" xlink:to="phvs_SettlementOfShareBasedPayments_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Statement Of Changes In Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="ifrs-full_StatementOfChangesInEquityAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:type="locator" xlink:label="ifrs-full_StatementOfChangesInEquityTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement Of Changes In Equity [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Statement Of Changes In Equity [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:type="locator" xlink:label="ifrs-full_ComponentsOfEquityAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Components of equity [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Components Of Equity [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EquityMember" xlink:type="locator" xlink:label="ifrs-full_EquityMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EquityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Equity [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssuedCapitalMember" xlink:type="locator" xlink:label="ifrs-full_IssuedCapitalMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share capital [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Issued Capital [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SharePremiumMember" xlink:type="locator" xlink:label="ifrs-full_SharePremiumMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_SharePremiumMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share premium [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremiumMember" xlink:to="ifrs-full_SharePremiumMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_SharePremiumMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Share Premium [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherReservesMember" xlink:type="locator" xlink:label="ifrs-full_OtherReservesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherReservesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other reserves [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReservesMember" xlink:to="ifrs-full_OtherReservesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherReservesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Reserves [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:type="locator" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency translation reserve [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Reserve Of Exchange Differences On Translation [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RetainedEarningsMember" xlink:type="locator" xlink:label="ifrs-full_RetainedEarningsMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated losses [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Retained Earnings [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="locator" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement Of Changes In Equity [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:type="resource" 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:label="ifrs-full_Equity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Beginning balance</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ComprehensiveIncome" xlink:type="locator" xlink:label="ifrs-full_ComprehensiveIncome" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total comprehensive loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Comprehensive Income</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_IncreaseInParValue_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase in par value</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_IncreaseInParValue_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Increase In Par Value</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IssueOfEquity" xlink:type="locator" xlink:label="ifrs-full_IssueOfEquity" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IssueOfEquity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issue of share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IssueOfEquity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Issue Of Equity</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ShareIssueRelatedCost" xlink:type="locator" xlink:label="ifrs-full_ShareIssueRelatedCost" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Transaction costs on issue of shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareIssueRelatedCost" xlink:to="ifrs-full_ShareIssueRelatedCost_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ShareIssueRelatedCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Share Issue Related Cost</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency translation reserve</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Comprehensive Income Net Of Tax Exchange Differences On Translation</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_SettlementOfShareBasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Settlement of share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_SettlementOfShareBasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Settlement Of Share Based Payments</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Increase Decrease Through Sharebased Payment Transactions</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:type="locator" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other movements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Increase Decrease Through Transfers And Other Changes Equity</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Equity_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Ending balance</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities" xlink:type="locator" xlink:label="phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities" />
    <link:label xml:lang="en-US" xlink:label="phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities_lbl" xlink:type="resource" 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>
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_AdjustmentForInterestReceivedPaid" xlink:type="locator" xlink:label="phvs_AdjustmentForInterestReceivedPaid" />
    <link:label xml:lang="en-US" xlink:label="phvs_AdjustmentForInterestReceivedPaid_lbl" xlink:type="resource" 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:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_AdjustmentForInterestReceivedPaid" xlink:to="phvs_AdjustmentForInterestReceivedPaid_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:type="locator" xlink:label="phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Changes in operating assets and liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:type="locator" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Statement Of Cash Flows [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows From Used In Operating Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossBeforeTax" xlink:type="locator" xlink:label="ifrs-full_ProfitLossBeforeTax" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loss before tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Profit Loss Before Tax</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-cash adjustments to reconcile loss before tax to net cash flows/used in operations :</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Reconcile Profit Loss [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payment expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Sharebased Payments</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DepreciationExpense" xlink:type="locator" xlink:label="ifrs-full_DepreciationExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DepreciationExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Depreciation expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationExpense" xlink:to="ifrs-full_DepreciationExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DepreciationExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Depreciation Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net foreign exchange (gain) / loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:to="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Unrealised Foreign Exchange Losses Gains</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForFinanceCosts" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForFinanceCosts" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForFinanceCosts_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Finance costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForFinanceCosts" xlink:to="ifrs-full_AdjustmentsForFinanceCosts_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForFinanceCosts_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Finance Costs</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Changes in working capital:</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Changes In Operating Assets And Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase in receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAccountReceivable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Decrease Increase In Trade Account Receivable</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase in other current assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInOtherCurrentAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Decrease Increase In Other Current Assets</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Increase in trade and other payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:type="resource" 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:label="phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Decrease in accrued liabilities</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_AdjustmentsForIncreaseDecreaseInAccruedLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Increase Decrease In Accrued Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="locator" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income taxes paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustments For Income Tax Expense</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_AdjustmentForInterestReceivedPaid_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Paid interest</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_AdjustmentForInterestReceivedPaid_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjustment For Interest Received Paid</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash flows used in operating activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows From Used In Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows From Used In Investing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="locator" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Purchase of property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Purchase Of Property Plant And Equipment Classified As Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash flows used in investing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows From Used In Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financing activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows From Used In Financing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProceedsFromIssuingShares" xlink:type="locator" xlink:label="ifrs-full_ProceedsFromIssuingShares" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProceedsFromIssuingShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issue of shares</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromIssuingShares" xlink:to="ifrs-full_ProceedsFromIssuingShares_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProceedsFromIssuingShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuing Shares</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PaymentsForShareIssueCosts" xlink:type="locator" xlink:label="ifrs-full_PaymentsForShareIssueCosts" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PaymentsForShareIssueCosts_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Transaction costs</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_PaymentsForShareIssueCosts_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Payments For Share Issue Costs</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash flows provided by financing activities</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinanceIncomeExplanatory" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinanceIncomeExplanatory" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfLeasesAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfLeasesAbstract" />
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    <link:label xml:lang="en-US" xlink:label="phvs_DescriptionOfAccountingPolicyForNewAndAmendedStandardsAndInterpretationsPolicyTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">New and amended standards and interpretations</link:label>
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock" xlink:type="locator" xlink:label="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Description of accounting policy for standards issued but not yet effective.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock" xlink:to="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Standards issued but not yet effective</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DescriptionOfAccountingPolicyForStandardsIssuedButNotYetEffectivePolicyTextBlock_lbl" xlink:type="resource" 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:loc xlink:href="phvs-20211231.xsd#phvs_DescriptionOfAccountingPolicyForSignificantAccountingJudgementsEstimatesAndAssumptionsPolicyTextBlock" xlink:type="locator" xlink:label="phvs_DescriptionOfAccountingPolicyForSignificantAccountingJudgementsEstimatesAndAssumptionsPolicyTextBlock" />
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    <link:label xml:lang="en-US" xlink:label="phvs_DescriptionOfAccountingPolicyForSignificantAccountingJudgementsEstimatesAndAssumptionsPolicyTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Significant accounting judgements estimates and assumptions</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DescriptionOfAccountingPolicyForSignificantAccountingJudgementsEstimatesAndAssumptionsPolicyTextBlock_lbl" xlink:type="resource" 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:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Subsidiaries</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Significant Investments In Subsidiaries Explanatory</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfBreakdownOfResearchAndDevelopmentExpensesTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfBreakdownOfResearchAndDevelopmentExpensesTextBlock" />
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownOfResearchAndDevelopmentExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Breakdown of Research and Development Expenses</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownOfResearchAndDevelopmentExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Breakdown Of Research And Development Expenses [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of breakdown of general and administrative expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock" xlink:to="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Breakdown of General and Administrative Expenses</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownOfGeneralAndAdministrativeExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Breakdown Of General And Administrative Expenses [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of breakdown personnel expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock" xlink:to="phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Personnel Expenses</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfBreakdownPersonnelExpensesTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Breakdown Personnel Expenses [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory" xlink:type="locator" xlink:label="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about finance income.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory" xlink:to="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Finance Income</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutFinanceIncomeExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Finance Income Explanatory</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of components of income tax expense benefit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock" xlink:to="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Income Tax Expense</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfComponentsOfIncomeTaxExpenseBenefitTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Components Of Income Tax Expense Benefit [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of effective income tax rate reconciliation.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock" xlink:to="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock_lbl" xlink:type="resource" 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:label="phvs_DisclosureOfEffectiveIncomeTaxRateReconciliationTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Effective Income Tax Rate Reconciliation [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of operating loss carry forwards.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock" xlink:to="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Tax Loss Carry-forwards Incurred In Current And Prior Years</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Operating Loss Carry Forwards [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetExplanatoryTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetExplanatoryTextBlock" />
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetExplanatoryTextBlock_lbl" xlink:type="resource" 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:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Property, Plant and Equipment</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Property Plant And Equipment Explanatory</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of information about right of use assets</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Quantitative Information About Rightofuse Assets Explanatory</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory" xlink:type="locator" xlink:label="phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of lease liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory" xlink:to="phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of information about lease lease liabilities</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutLeaseLiabilitiesExplanatory_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Lease Liabilities Explanatory</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfDetailedInformationAboutReceivablesExplanatoryTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfDetailedInformationAboutReceivablesExplanatoryTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutReceivablesExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about receivables explanatory.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutReceivablesExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary Of Receivables</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutReceivablesExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Receivables Explanatory [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about other current assets explanatory.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Other Current Assets</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutOtherCurrentAssetsExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information About Other Current Assets Explanatory [Text Block]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsExplanatoryTextBlock" xlink:type="locator" xlink:label="phvs_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsExplanatoryTextBlock" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information about cash and cash equivalents explanatory.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationAboutCashAndCashEquivalentsExplanatoryTextBlock_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Summary of Cash And Cash Equivalents</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesAbstract" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_PharvarisHoldingsBvMember" xlink:type="locator" xlink:label="phvs_PharvarisHoldingsBvMember" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_PharvarisNetherlandsBvMember" xlink:type="locator" xlink:label="phvs_PharvarisNetherlandsBvMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_PharvarisNetherlandsBvMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Pharvaris Netherlands B.V.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_PharvarisNetherlandsBvMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pharvaris Netherlands Bv [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Significant Investments In Subsidiaries [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NameOfSubsidiary" xlink:type="locator" xlink:label="ifrs-full_NameOfSubsidiary" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" xlink:type="locator" xlink:label="ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PrincipalPlaceOfBusinessOfSubsidiary_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legal seat</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:type="locator" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Country of incorporation</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Country Of Incorporation Or Residence Of Subsidiary</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">% of equity interest</link:label>
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesAbstract" />
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of significant accounting policies.</link:label>
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfSignificantAccountingPoliciesTable" xlink:type="locator" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesTable" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OfficeEquipmentMember" xlink:type="locator" xlink:label="ifrs-full_OfficeEquipmentMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OfficeEquipmentMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Office equipment [member]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RangeAxis" xlink:type="locator" xlink:label="ifrs-full_RangeAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RangeAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Range [axis]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_RangesMember" xlink:type="locator" xlink:label="ifrs-full_RangesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RangesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ranges [member]</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_RangesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Ranges [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_BottomOfRangeMember" xlink:type="locator" xlink:label="ifrs-full_BottomOfRangeMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bottom of range [member]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TopOfRangeMember" xlink:type="locator" xlink:label="ifrs-full_TopOfRangeMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TopOfRangeMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Top Of Range [Member]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Classes Of Share Capital [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator" xlink:label="ifrs-full_ClassesOfShareCapitalMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share capital [member]</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfSignificantAccountingPoliciesLineItems_lbl" xlink:type="resource" 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:label="ifrs-full_ProfitLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loss for the year</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashFlowsFromUsedInOperations" xlink:type="locator" xlink:label="ifrs-full_CashFlowsFromUsedInOperations" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash flows from (used in) operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperations_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash Flows From Used In Operations</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:type="locator" xlink:label="ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Useful life , property, plant and equipment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment" xlink:to="ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_UsefulLifeMeasuredAsPeriodOfTimePropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Useful Life Measured As Period Of Time Property Plant And Equipment</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesOutstanding" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Shares Outstanding</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information research and development expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract" xlink:to="phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationResearchAndDevelopmentExpensesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information Research And Development Expenses [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable" xlink:to="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProductsAndServicesAxis" xlink:type="locator" xlink:label="ifrs-full_ProductsAndServicesAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Products and services [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Products And Services [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProductsAndServicesMember" xlink:type="locator" xlink:label="ifrs-full_ProductsAndServicesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Products and services [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ifrs-full_ProductsAndServicesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Products And Services [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PersonnelExpensesMember" xlink:type="locator" xlink:label="phvs_PersonnelExpensesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Personnel expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PersonnelExpensesMember" xlink:to="phvs_PersonnelExpensesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Personnel expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Personnel Expenses [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ClinicalExpensesMember" xlink:type="locator" xlink:label="phvs_ClinicalExpensesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_ClinicalExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Clinical expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ClinicalExpensesMember" xlink:to="phvs_ClinicalExpensesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_ClinicalExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Clinical expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ClinicalExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Clinical Expenses [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_NonclinicalExpensesMember" xlink:type="locator" xlink:label="phvs_NonclinicalExpensesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_NonclinicalExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Nonclinical expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_NonclinicalExpensesMember" xlink:to="phvs_NonclinicalExpensesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_NonclinicalExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Nonclinical expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_NonclinicalExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Nonclinical Expenses [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ManufacturingCostsMember" xlink:type="locator" xlink:label="phvs_ManufacturingCostsMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_ManufacturingCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Manufacturing costs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ManufacturingCostsMember" xlink:to="phvs_ManufacturingCostsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_ManufacturingCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Manufacturing costs [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ManufacturingCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Manufacturing Costs [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_LicenseCostsMember" xlink:type="locator" xlink:label="phvs_LicenseCostsMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_LicenseCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">License costs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_LicenseCostsMember" xlink:to="phvs_LicenseCostsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_LicenseCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">License costs [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_LicenseCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">License Costs [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_IntellectualPropertyCostsMember" xlink:type="locator" xlink:label="phvs_IntellectualPropertyCostsMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_IntellectualPropertyCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Intellectual property costs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_IntellectualPropertyCostsMember" xlink:to="phvs_IntellectualPropertyCostsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_IntellectualPropertyCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Intellectual Property costs [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_IntellectualPropertyCostsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Intellectual Property Costs [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems" xlink:to="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfDisaggregationOfRevenueFromContractsWithCustomersLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_LicenseCostsConsistMilestonePayment" xlink:type="locator" xlink:label="phvs_LicenseCostsConsistMilestonePayment" />
    <link:label xml:lang="en-US" xlink:label="phvs_LicenseCostsConsistMilestonePayment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">License costs consist milestone payment.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_LicenseCostsConsistMilestonePayment" xlink:to="phvs_LicenseCostsConsistMilestonePayment_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CounterpartiesAxis" xlink:type="locator" xlink:label="ifrs-full_CounterpartiesAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CounterpartiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Counterparties [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CounterpartiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Counterparties [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CounterpartiesMember" xlink:type="locator" xlink:label="ifrs-full_CounterpartiesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CounterpartiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Counterparties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ifrs-full_CounterpartiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CounterpartiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Counterparties [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_AnalytiConMember" xlink:type="locator" xlink:label="phvs_AnalytiConMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_AnalytiConMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">AnalytiCon.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_AnalytiConMember" xlink:to="phvs_AnalytiConMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_AnalytiConMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">AnalytiCon [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_AnalytiConMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Analyti Con [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfContractsAxis" xlink:type="locator" xlink:label="ifrs-full_TypesOfContractsAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfContractsAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Types of contracts [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfContractsAxis" xlink:to="ifrs-full_TypesOfContractsAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfContractsAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Types Of Contracts [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfContractsMember" xlink:type="locator" xlink:label="ifrs-full_TypesOfContractsMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfContractsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Types of contracts [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfContractsMember" xlink:to="ifrs-full_TypesOfContractsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfContractsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Types Of Contracts [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_Phase2DevelopmentMember" xlink:type="locator" xlink:label="phvs_Phase2DevelopmentMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_Phase2DevelopmentMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Phase 2 development.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_Phase2DevelopmentMember" xlink:to="phvs_Phase2DevelopmentMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_Phase2DevelopmentMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Phase 2 Development [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_Phase2DevelopmentMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Phase2 Development [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_LicenseCostsConsistMilestonePayment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">License costs consist milestone payment</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_LicenseCostsConsistMilestonePayment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">License Costs Consist Milestone Payment</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PersonnelExpense" xlink:type="locator" xlink:label="phvs_PersonnelExpense" />
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Personnel expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PersonnelExpense" xlink:to="phvs_PersonnelExpense_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ConsultingFees" xlink:type="locator" xlink:label="phvs_ConsultingFees" />
    <link:label xml:lang="en-US" xlink:label="phvs_ConsultingFees_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Consulting fees.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ConsultingFees" xlink:to="phvs_ConsultingFees_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_FacilitiesCommunicationandOfficeExpense" xlink:type="locator" xlink:label="phvs_FacilitiesCommunicationandOfficeExpense" />
    <link:label xml:lang="en-US" xlink:label="phvs_FacilitiesCommunicationandOfficeExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Facilities, communication&#160;and office expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_FacilitiesCommunicationandOfficeExpense" xlink:to="phvs_FacilitiesCommunicationandOfficeExpense_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of detailed information general and administrative expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract" xlink:to="phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfDetailedInformationGeneralAndAdministrativeExpensesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Detailed Information General And Administrative Expenses [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Personnel expenses</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Personnel Expense</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ConsultingFees_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Consulting fees</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ConsultingFees_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Consulting Fees</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfessionalFeesExpense" xlink:type="locator" xlink:label="ifrs-full_ProfessionalFeesExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Professional fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfessionalFeesExpense" xlink:to="ifrs-full_ProfessionalFeesExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfessionalFeesExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Professional Fees Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AuditorsRemunerationForAuditServices" xlink:type="locator" xlink:label="ifrs-full_AuditorsRemunerationForAuditServices" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AuditorsRemunerationForAuditServices_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Accounting, tax and auditing fees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AuditorsRemunerationForAuditServices" xlink:to="ifrs-full_AuditorsRemunerationForAuditServices_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AuditorsRemunerationForAuditServices_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Auditors Remuneration For Audit Services</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_FacilitiesCommunicationandOfficeExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Facilities, communication and office expenses</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_FacilitiesCommunicationandOfficeExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Facilities Communicationand Office Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TravelExpense" xlink:type="locator" xlink:label="ifrs-full_TravelExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TravelExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Travel expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TravelExpense" xlink:to="ifrs-full_TravelExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TravelExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Travel Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherExpenseByNature" xlink:type="locator" xlink:label="ifrs-full_OtherExpenseByNature" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Other expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Expense By Nature</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GeneralAndAdministrativeExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">General and administrative expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CashOutflowForLeases" xlink:type="locator" xlink:label="ifrs-full_CashOutflowForLeases" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashOutflowForLeases_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash outflow for leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashOutflowForLeases" xlink:to="ifrs-full_CashOutflowForLeases_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CashOutflowForLeases_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash Outflow For Leases</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DepreciationExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Depreciation expenses related to property, plant and equipment and leases</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PensionCharges" xlink:type="locator" xlink:label="phvs_PensionCharges" />
    <link:label xml:lang="en-US" xlink:label="phvs_PensionCharges_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Pension charges.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PensionCharges" xlink:to="phvs_PensionCharges_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_OtherSocialSecurityCharges" xlink:type="locator" xlink:label="phvs_OtherSocialSecurityCharges" />
    <link:label xml:lang="en-US" xlink:label="phvs_OtherSocialSecurityCharges_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Other social security charges.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_OtherSocialSecurityCharges" xlink:to="phvs_OtherSocialSecurityCharges_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ShareBasedPayments" xlink:type="locator" xlink:label="phvs_ShareBasedPayments" />
    <link:label xml:lang="en-US" xlink:label="phvs_ShareBasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Share-based payments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ShareBasedPayments" xlink:to="phvs_ShareBasedPayments_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfExpensesByNatureAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfExpensesByNatureAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfExpensesByNatureAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of expenses by nature.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfExpensesByNatureAbstract" xlink:to="phvs_DisclosureOfExpensesByNatureAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfExpensesByNatureAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Expenses By Nature [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WagesAndSalaries" xlink:type="locator" xlink:label="ifrs-full_WagesAndSalaries" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_WagesAndSalaries_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Wages and salaries</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WagesAndSalaries" xlink:to="ifrs-full_WagesAndSalaries_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_WagesAndSalaries_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Wages And Salaries</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PensionCharges_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Pension charges</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PensionCharges_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pension Charges</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_OtherSocialSecurityCharges_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Other social security charges</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_OtherSocialSecurityCharges_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Social Security Charges</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ShareBasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Share-based payments</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ShareBasedPayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Share Based Payments</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:type="locator" xlink:label="ifrs-full_EmployeeBenefitsExpense" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Total</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployeeBenefitsExpense" xlink:to="ifrs-full_EmployeeBenefitsExpense_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Employee Benefits Expense</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfEmployees" xlink:type="locator" xlink:label="ifrs-full_NumberOfEmployees" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfEmployees_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of employees</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfEmployees" xlink:to="ifrs-full_NumberOfEmployees_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfEmployees_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Employees</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_InterestIncomeExpensesOverBankBalances" xlink:type="locator" xlink:label="phvs_InterestIncomeExpensesOverBankBalances" />
    <link:label xml:lang="en-US" xlink:label="phvs_InterestIncomeExpensesOverBankBalances_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Interest income (expenses) over bank balances.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_InterestIncomeExpensesOverBankBalances" xlink:to="phvs_InterestIncomeExpensesOverBankBalances_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfFinancialExpensesAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfFinancialExpensesAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfFinancialExpensesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of financial expenses.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfFinancialExpensesAbstract" xlink:to="phvs_DisclosureOfFinancialExpensesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfFinancialExpensesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Financial Expenses [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:type="locator" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Foreign exchange differences</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Gains Losses On Exchange Differences On Translation Recognised In Profit Or Loss</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_InterestIncomeExpensesOverBankBalances_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest income / (expenses) over bank balances</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_InterestIncomeExpensesOverBankBalances_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Interest Income Expenses Over Bank Balances</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherFinanceIncomeCost" xlink:type="locator" xlink:label="ifrs-full_OtherFinanceIncomeCost" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other finance income / (expenses)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncomeCost" xlink:to="ifrs-full_OtherFinanceIncomeCost_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Finance Income Cost</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxExpense" xlink:type="locator" xlink:label="phvs_DeferredTaxExpense" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax expense.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxExpense" xlink:to="phvs_DeferredTaxExpense_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:type="locator" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Major Components Of Tax Expense Income [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator" xlink:label="ifrs-full_CurrentTaxExpenseIncome" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Current income tax expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncome" xlink:to="ifrs-full_CurrentTaxExpenseIncome_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Tax Expense Income</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Deferred tax benefit</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxExpense_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Expense</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel">Income tax benefit / (expense)</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:type="locator" xlink:label="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized_lbl" xlink:type="resource" 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:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized" xlink:to="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ImpactOfRateDifferencesOnOpeningDeferredTaxBalance" xlink:type="locator" xlink:label="phvs_ImpactOfRateDifferencesOnOpeningDeferredTaxBalance" />
    <link:label xml:lang="en-US" xlink:label="phvs_ImpactOfRateDifferencesOnOpeningDeferredTaxBalance_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Impact of rate differences on opening deferred tax balance.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ImpactOfRateDifferencesOnOpeningDeferredTaxBalance" xlink:to="phvs_ImpactOfRateDifferencesOnOpeningDeferredTaxBalance_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:type="locator" xlink:label="phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax effect of expenses not deductible in determining taxable profit (tax loss).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss" xlink:to="phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxExpensesOfTransactionCost" xlink:type="locator" xlink:label="phvs_TaxExpensesOfTransactionCost" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxExpensesOfTransactionCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax Expenses Of transaction Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_TaxExpensesOfTransactionCost" xlink:to="phvs_TaxExpensesOfTransactionCost_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_RecognisedLossesOfDeferredTaxAsset" xlink:type="locator" xlink:label="phvs_RecognisedLossesOfDeferredTaxAsset" />
    <link:label xml:lang="en-US" xlink:label="phvs_RecognisedLossesOfDeferredTaxAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Recognised losses of deferred tax asset.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_RecognisedLossesOfDeferredTaxAsset" xlink:to="phvs_RecognisedLossesOfDeferredTaxAsset_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxEffectiveOfIncomeTaxRate" xlink:type="locator" xlink:label="phvs_TaxEffectiveOfIncomeTaxRate" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxEffectiveOfIncomeTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax effective of income tax rate.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_TaxEffectiveOfIncomeTaxRate" xlink:to="phvs_TaxEffectiveOfIncomeTaxRate_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" xlink:type="locator" xlink:label="ifrs-full_ReconciliationOfAccountingProfitMultipliedByApplicableTaxRatesAbstract" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AccountingProfit" xlink:type="locator" xlink:label="ifrs-full_AccountingProfit" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccountingProfit" xlink:to="ifrs-full_AccountingProfit_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AccountingProfit_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Accounting Profit</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="locator" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income tax benefit at statutory income tax rate of 25%</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate_lbl" />
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    <link:label xml:lang="en-US" xlink:label="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized_lbl" xlink:type="resource" 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:label="phvs_TaxEffectOfTemporaryDifferencesForWhichNoDeferredTaxAssetsHasBeenRecognized_lbl" xlink:type="resource" 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:label="phvs_ImpactOfRateDifferencesOnOpeningDeferredTaxBalance_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Impact of rate differences on opening deferred tax balance</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ImpactOfRateDifferencesOnOpeningDeferredTaxBalance_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Impact Of Rate Differences On Opening Deferred Tax Balance</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_TaxEffectOfExpensesNotDeductibleInDeterminingTaxableProfittaxLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-deductible expenses for tax purposes (inc. share based payments)</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_TaxExpensesOfTransactionCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Transactions costs</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_TaxExpensesOfTransactionCost_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Tax Expenses Of Transaction Cost</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_RecognisedLossesOfDeferredTaxAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current year losses for which no deferred tax asset has been recognised</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TaxEffectOfForeignTaxRates" xlink:type="locator" xlink:label="ifrs-full_TaxEffectOfForeignTaxRates" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxEffectOfForeignTaxRates" xlink:to="ifrs-full_TaxEffectOfForeignTaxRates_lbl" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:type="locator" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_TaxEffectiveOfIncomeTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Tax Effective Of Income Tax Rate</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract" xlink:type="locator" xlink:label="ifrs-full_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateAbstract" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ApplicableTaxRate" xlink:type="locator" xlink:label="ifrs-full_ApplicableTaxRate" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Applicable tax rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Applicable Tax Rate</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" xlink:type="locator" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems" />
    <link:label xml:lang="en-US" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [line Item]</link:label>
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" xlink:type="locator" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable" />
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    <link:label xml:lang="en-US" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable_lbl" xlink:type="resource" 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:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Table]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_IncomeTaxAuthority1Axis" xlink:type="locator" xlink:label="phvs_IncomeTaxAuthority1Axis" />
    <link:label xml:lang="en-US" xlink:label="phvs_IncomeTaxAuthority1Axis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Income Tax Authority 1 [Axis]</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_IncomeTaxAuthority1Axis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Authority1 [Axis]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_IncomeTaxAuthorityMember" xlink:type="locator" xlink:label="phvs_IncomeTaxAuthorityMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_IncomeTaxAuthorityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Income tax authority.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_IncomeTaxAuthorityMember" xlink:to="phvs_IncomeTaxAuthorityMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_IncomeTaxAuthorityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Income Tax Authority Member</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_IncomeTaxAuthorityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Income Tax Authority [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DutchTaxLawMember" xlink:type="locator" xlink:label="phvs_DutchTaxLawMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_DutchTaxLawMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Dutch tax law [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DutchTaxLawMember" xlink:to="phvs_DutchTaxLawMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DutchTaxLawMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dutch tax law [member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DutchTaxLawMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Dutch Tax Law [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_SwissTaxLawMember" xlink:type="locator" xlink:label="phvs_SwissTaxLawMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_SwissTaxLawMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Swiss tax Law [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_SwissTaxLawMember" xlink:to="phvs_SwissTaxLawMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_SwissTaxLawMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Swiss tax Law [member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_SwissTaxLawMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Swiss Tax Law [Member]</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_ReconciliationOfAverageEffectiveTaxRateAndApplicableTaxRateLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AverageEffectiveTaxRate" xlink:type="locator" xlink:label="ifrs-full_AverageEffectiveTaxRate" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effective tax rate</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_AverageEffectiveTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Average Effective Tax Rate</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxLossCarryForwardsYear" xlink:type="locator" xlink:label="phvs_TaxLossCarryForwardsYear" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxLossCarryForwardsYear_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax loss carry forwards year.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_TaxLossCarryForwardsYear" xlink:to="phvs_TaxLossCarryForwardsYear_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PercentageOfAmountOfOffsetWillLimitedToTaxableIncome" xlink:type="locator" xlink:label="phvs_PercentageOfAmountOfOffsetWillLimitedToTaxableIncome" />
    <link:label xml:lang="en-US" xlink:label="phvs_PercentageOfAmountOfOffsetWillLimitedToTaxableIncome_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Percentage of amount of offset will limited to taxable income.</link:label>
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxLossCarryForwardsRevisedYear" xlink:type="locator" xlink:label="phvs_TaxLossCarryForwardsRevisedYear" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxLossCarryForwardsRevisedYear_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax loss carry forwards revised year.</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_TaxEffectOfTaxLosses_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Tax Effect Of Tax Losses</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_TaxLossCarryForwardsYear_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax loss carry forwards Year</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_TaxLossCarryForwardsYear_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Tax Loss Carry Forwards Year</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_TaxLossCarryForwardsRevisedYear_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax loss carry forwards revised Year</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_TaxEffectFromChangeInTaxRate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Tax Effect From Change In Tax Rate</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsAbstract" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:type="locator" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsLineItems" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Operating Loss Carry forwards [Line Item]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfOperatingLossCarryForwardsLineItems" xlink:to="phvs_DisclosureOfOperatingLossCarryForwardsLineItems_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:type="locator" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTable" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Operating Loss Carry forwards (Table)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfOperatingLossCarryForwardsTable" xlink:to="phvs_DisclosureOfOperatingLossCarryForwardsTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsTable_lbl" xlink:type="resource" 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:label="phvs_DisclosureOfOperatingLossCarryForwardsTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Operating Loss Carry Forwards [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:type="locator" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Temporary Difference Unused Tax Losses And Unused Tax Credits [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:type="locator" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Temporary Difference Unused Tax Losses And Unused Tax Credits [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_UnusedTaxLossesMember" xlink:type="locator" xlink:label="ifrs-full_UnusedTaxLossesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_UnusedTaxLossesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax losses [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedTaxLossesMember" xlink:to="ifrs-full_UnusedTaxLossesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_UnusedTaxLossesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Unused Tax Losses [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MeasurementAxis" xlink:type="locator" xlink:label="ifrs-full_MeasurementAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_MeasurementAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Measurement [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MeasurementAxis" xlink:to="ifrs-full_MeasurementAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_MeasurementAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Measurement [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AggregatedMeasurementMember" xlink:type="locator" xlink:label="ifrs-full_AggregatedMeasurementMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregated measurement [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedMeasurementMember" xlink:to="ifrs-full_AggregatedMeasurementMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Aggregated Measurement [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxYear2027Member" xlink:type="locator" xlink:label="phvs_TaxYear2027Member" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxYear2027Member_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax Year 2027 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_TaxYear2027Member" xlink:to="phvs_TaxYear2027Member_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxYear2027Member_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax Year 2027 [member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_TaxYear2027Member_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Tax Year2027 [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_TaxYear2028Member" xlink:type="locator" xlink:label="phvs_TaxYear2028Member" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxYear2028Member_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Tax year 2028.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_TaxYear2028Member" xlink:to="phvs_TaxYear2028Member_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_TaxYear2028Member_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax Year 2028 [member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_TaxYear2028Member_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Tax Year2028 [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_UnlimitedMember" xlink:type="locator" xlink:label="phvs_UnlimitedMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_UnlimitedMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Unlimited.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_UnlimitedMember" xlink:to="phvs_UnlimitedMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_UnlimitedMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unlimited [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_UnlimitedMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Unlimited [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GeographicalAreasAxis" xlink:type="locator" xlink:label="ifrs-full_GeographicalAreasAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Geographical areas [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Geographical Areas [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GeographicalAreasMember" xlink:type="locator" xlink:label="ifrs-full_GeographicalAreasMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Geographical areas [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ifrs-full_GeographicalAreasMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Geographical Areas [Member]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2021/country-2021.xsd#country_CH" xlink:type="locator" xlink:label="country_CH" />
    <link:label xml:lang="en-US" xlink:label="country_CH_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">SWITZERLAND</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CH" xlink:to="country_CH_lbl" />
    <link:label xml:lang="en-US" xlink:label="country_CH_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">SWITZERLAND</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/country/2021/country-2021.xsd#country_NL" xlink:type="locator" xlink:label="country_NL" />
    <link:label xml:lang="en-US" xlink:label="country_NL_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">NETHERLANDS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_NL" xlink:to="country_NL_lbl" />
    <link:label xml:lang="en-US" xlink:label="country_NL_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">NETHERLANDS</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfOperatingLossCarryForwardsLineItems_lbl" xlink:type="resource" 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:label="phvs_DisclosureOfOperatingLossCarryForwardsLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Operating Loss Carry Forwards [Line Items]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxAsset" xlink:type="locator" xlink:label="phvs_DeferredTaxAsset" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax asset.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxAsset" xlink:to="phvs_DeferredTaxAsset_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:type="locator" xlink:label="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax assets recognised in profit or loss.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss" xlink:to="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxAssetsCurrencyTranslationDifferences" xlink:type="locator" xlink:label="phvs_DeferredTaxAssetsCurrencyTranslationDifferences" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAssetsCurrencyTranslationDifferences_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax assets currency translation differences.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxAssetsCurrencyTranslationDifferences" xlink:to="phvs_DeferredTaxAssetsCurrencyTranslationDifferences_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxLiability" xlink:type="locator" xlink:label="phvs_DeferredTaxLiability" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax liability.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxLiability" xlink:to="phvs_DeferredTaxLiability_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:type="locator" xlink:label="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax liability recognised in profit or loss.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss" xlink:to="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxLiabilityCurrencyTranslationDifferences" xlink:type="locator" xlink:label="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred tax liability currency translation differences.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences" xlink:to="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ChangesInDeferredTaxAssetAbstract" xlink:type="locator" xlink:label="phvs_ChangesInDeferredTaxAssetAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInDeferredTaxAssetAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">(Charged)/credited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ChangesInDeferredTaxAssetAbstract" xlink:to="phvs_ChangesInDeferredTaxAssetAbstract_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxLiabilities1Abstract" xlink:type="locator" xlink:label="phvs_DeferredTaxLiabilities1Abstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilities1Abstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Deferred Tax Liabilities 1 [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxLiabilities1Abstract" xlink:to="phvs_DeferredTaxLiabilities1Abstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" xlink:type="locator" xlink:label="ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Reconciliation Of Changes In Deferred Tax Liability Asset [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract" xlink:to="ifrs-full_ReconciliationOfChangesInDeferredTaxLiabilityAssetAbstract_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:type="locator" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems" xlink:to="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:type="locator" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable" xlink:to="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xlink:type="resource" 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:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Table]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ResearchAndDevelopmentExpensesMember" xlink:type="locator" xlink:label="phvs_ResearchAndDevelopmentExpensesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_ResearchAndDevelopmentExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Research And Development Expenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ResearchAndDevelopmentExpensesMember" xlink:to="phvs_ResearchAndDevelopmentExpensesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_ResearchAndDevelopmentExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Research And Development Expenses [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ResearchAndDevelopmentExpensesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Research And Development Expenses [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_FixedAssetsMember" xlink:type="locator" xlink:label="phvs_FixedAssetsMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_FixedAssetsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Fixed assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_FixedAssetsMember" xlink:to="phvs_FixedAssetsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_FixedAssetsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fixed Assets [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_FixedAssetsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Fixed Assets [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_NonCurrentProvisionsAndLiabilitiesMember" xlink:type="locator" xlink:label="phvs_NonCurrentProvisionsAndLiabilitiesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_NonCurrentProvisionsAndLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Non current provisions and liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_NonCurrentProvisionsAndLiabilitiesMember" xlink:to="phvs_NonCurrentProvisionsAndLiabilitiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_NonCurrentProvisionsAndLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non Current Provisions and Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_NonCurrentProvisionsAndLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Non Current Provisions And Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfReconciliationOfChangesInDeferredTaxLiabilityAssetLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Reconciliation Of Changes In Deferred Tax Liability Asset [Line Items]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DeferredTaxAssetsAbstract" xlink:type="locator" xlink:label="phvs_DeferredTaxAssetsAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred tax assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DeferredTaxAssetsAbstract" xlink:to="phvs_DeferredTaxAssetsAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAssetsAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Assets [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Deferred tax assets, balance</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Asset</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInDeferredTaxAssetAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">(Charged)/credited</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInDeferredTaxAssetAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Changes In Deferred Tax Asset [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Profit or loss</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAssetsRecognisedInProfitOrLoss_lbl" xlink:type="resource" 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:label="phvs_DeferredTaxAssetsCurrencyTranslationDifferences_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Currency translation differences</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAssetsCurrencyTranslationDifferences_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Assets Currency Translation Differences</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Deferred tax assets, balance</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilities1Abstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deferred tax liability</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilities1Abstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Liabilities1 [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Deferred tax liability, balance</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Liability</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:type="locator" xlink:label="phvs_ChangesInDeferredTaxLiabilityAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInDeferredTaxLiabilityAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">(Charged)/credited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ChangesInDeferredTaxLiabilityAbstract" xlink:to="phvs_ChangesInDeferredTaxLiabilityAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_ChangesInDeferredTaxLiabilityAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Changes In Deferred Tax Liability [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Profit or loss</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilityRecognisedInProfitOrLoss_lbl" xlink:type="resource" 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:label="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">- Currency translation differences</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiabilityCurrencyTranslationDifferences_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Liability Currency Translation Differences</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DeferredTaxLiability_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Deferred tax liability, balance</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Net deferred tax assets at December 31, 2021</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deferred Tax Liability Asset</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:type="locator" xlink:label="ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unrecognized deferred tax assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised" xlink:to="ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DeductibleTemporaryDifferencesForWhichNoDeferredTaxAssetIsRecognised_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Deductible Temporary Differences For Which No Deferred Tax Asset Is Recognised</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Property Plant And Equipment [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Property Plant And Equipment [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Property Plant And Equipment [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Carrying Amount Accumulated Depreciation Amortisation And Impairment And Gross Carrying Amount [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CarryingAmountMember" xlink:type="locator" xlink:label="ifrs-full_CarryingAmountMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CarryingAmountMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying amount [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CarryingAmountMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Carrying Amount [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:type="locator" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative depreciation [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAndAmortisationMember" xlink:to="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AccumulatedDepreciationAndAmortisationMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Depreciation And Amortisation [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_GrossCarryingAmountMember" xlink:type="locator" xlink:label="ifrs-full_GrossCarryingAmountMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cumulative Costs [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossCarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Gross Carrying Amount [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Property Plant And Equipment [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Property Plant And Equipment [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">As of January 1,</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Additions Other Than Through Business Combinations Property Plant And Equipment</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="locator" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Depreciation expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Depreciation Property Plant And Equipment</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">As of December 31,</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Acquired assets</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency" xlink:type="locator" xlink:label="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency" />
    <link:label xml:lang="en-US" xlink:label="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Right of use assets impact of transaction of foreign currency.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency" xlink:to="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_RightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">As of January 1,</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdditionsToRightofuseAssets" xlink:type="locator" xlink:label="ifrs-full_AdditionsToRightofuseAssets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdditionsToRightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Addition</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsToRightofuseAssets" xlink:to="ifrs-full_AdditionsToRightofuseAssets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdditionsToRightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Additions To Rightofuse Assets</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DepreciationRightofuseAssets" xlink:type="locator" xlink:label="ifrs-full_DepreciationRightofuseAssets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Depreciation charges</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationRightofuseAssets" xlink:to="ifrs-full_DepreciationRightofuseAssets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DepreciationRightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Depreciation Rightofuse Assets</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Impact of transaction of foreign currency</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_RightOfUseAssetsImpactOfTransactionOfForeignCurrency_lbl" xlink:type="resource" 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:label="ifrs-full_RightofuseAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">As of December 31,</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LeaseLiabilitiesAbstract" xlink:type="locator" xlink:label="ifrs-full_LeaseLiabilitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LeaseLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Lease Liabilities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilitiesAbstract" xlink:to="ifrs-full_LeaseLiabilitiesAbstract_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfLeaseLiabilitiesLineItems" xlink:type="locator" xlink:label="phvs_DisclosureOfLeaseLiabilitiesLineItems" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfLeaseLiabilitiesLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of lease liabilities line items.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfLeaseLiabilitiesLineItems" xlink:to="phvs_DisclosureOfLeaseLiabilitiesLineItems_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfLeaseLiabilitiesTable" xlink:type="locator" xlink:label="phvs_DisclosureOfLeaseLiabilitiesTable" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfLeaseLiabilitiesTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of lease liabilities table.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfLeaseLiabilitiesTable" xlink:to="phvs_DisclosureOfLeaseLiabilitiesTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfLeaseLiabilitiesTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Lease Liabilities [Table]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfLeaseLiabilitiesTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Lease Liabilities [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:type="locator" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities arising from financing activities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:to="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities Arising From Financing Activities [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:type="locator" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities arising from financing activities [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:to="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Liabilities Arising From Financing Activities [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_OfficeLeaseMember" xlink:type="locator" xlink:label="phvs_OfficeLeaseMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_OfficeLeaseMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Office lease.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_OfficeLeaseMember" xlink:to="phvs_OfficeLeaseMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_OfficeLeaseMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Office Lease</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_OfficeLeaseMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Office Lease [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfLeaseLiabilitiesLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Lease Liabilities [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfLeaseLiabilitiesLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Lease Liabilities [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LeaseLiabilities" xlink:type="locator" xlink:label="ifrs-full_LeaseLiabilities" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Office lease</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilities" xlink:to="ifrs-full_LeaseLiabilities_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Lease Liabilities</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentLeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Current Portion</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NoncurrentLeaseLiabilities_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Non-current Portion</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_LeaseAgreementTerm" xlink:type="locator" xlink:label="phvs_LeaseAgreementTerm" />
    <link:label xml:lang="en-US" xlink:label="phvs_LeaseAgreementTerm_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Lease agreement term.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_LeaseAgreementTerm" xlink:to="phvs_LeaseAgreementTerm_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_LeaseAgreementTerm_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Lease agreement term</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_LeaseAgreementTerm_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Lease Agreement Term</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:type="locator" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Average incremental borrowing rate applied to the lease liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16" xlink:to="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_WeightedAverageLesseesIncrementalBorrowingRateAppliedToLeaseLiabilitiesRecognisedAtDateOfInitialApplicationOfIFRS16_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Weighted Average Lessees Incremental Borrowing Rate Applied To Lease Liabilities Recognised At Date Of Initial Application Of I F R S16</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentTradeReceivables" xlink:type="locator" xlink:label="ifrs-full_CurrentTradeReceivables" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Trade Receivables</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ValueAddedTaxReceivables" xlink:type="locator" xlink:label="ifrs-full_ValueAddedTaxReceivables" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ValueAddedTaxReceivables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">VAT receivables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ValueAddedTaxReceivables" xlink:to="ifrs-full_ValueAddedTaxReceivables_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ValueAddedTaxReceivables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Value Added Tax Receivables</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentPrepayments" xlink:type="locator" xlink:label="ifrs-full_CurrentPrepayments" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentPrepayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepayments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepayments" xlink:to="ifrs-full_CurrentPrepayments_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentPrepayments_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Prepayments</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OtherAssets" xlink:type="locator" xlink:label="ifrs-full_OtherAssets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAssets" xlink:to="ifrs-full_OtherAssets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Assets</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_AuthorizedShareCapital" xlink:type="locator" xlink:label="phvs_AuthorizedShareCapital" />
    <link:label xml:lang="en-US" xlink:label="phvs_AuthorizedShareCapital_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Authorized share capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_AuthorizedShareCapital" xlink:to="phvs_AuthorizedShareCapital_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_VotingRightsDescription" xlink:type="locator" xlink:label="phvs_VotingRightsDescription" />
    <link:label xml:lang="en-US" xlink:label="phvs_VotingRightsDescription_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Voting rights description.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_VotingRightsDescription" xlink:to="phvs_VotingRightsDescription_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Classes Of Share Capital [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Classes Of Share Capital [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Classes Of Share Capital [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_OrdinarySharesMember" xlink:type="locator" xlink:label="ifrs-full_OrdinarySharesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ordinary shares [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OrdinarySharesMember" xlink:to="ifrs-full_OrdinarySharesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Ordinary Shares [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Classes Of Share Capital [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:type="resource" 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:label="phvs_AuthorizedShareCapital_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Authorized share capital</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_AuthorizedShareCapital_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Authorized Share Capital</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfSharesAuthorised" xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesAuthorised" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfSharesAuthorised_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesAuthorised" xlink:to="ifrs-full_NumberOfSharesAuthorised_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfSharesAuthorised_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Shares Authorised</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ParValuePerShare" xlink:type="locator" xlink:label="ifrs-full_ParValuePerShare" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ParValuePerShare_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Nominal value per share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ParValuePerShare_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Par Value Per Share</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:type="locator" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares issued and fully paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssuedAndFullyPaid" xlink:to="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfSharesIssuedAndFullyPaid_lbl" xlink:type="resource" 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:label="phvs_VotingRightsDescription_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voting rights description</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_VotingRightsDescription_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Voting Rights Description</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PreferredSharesAMember" xlink:type="locator" xlink:label="phvs_PreferredSharesAMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesAMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Preferred shares A.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PreferredSharesAMember" xlink:to="phvs_PreferredSharesAMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesAMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Shares A [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesAMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Shares A [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PreferredSharesBMember" xlink:type="locator" xlink:label="phvs_PreferredSharesBMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesBMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Preferred shares B.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PreferredSharesBMember" xlink:to="phvs_PreferredSharesBMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesBMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Shares B [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesBMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Shares B [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PreferredSharesCMember" xlink:type="locator" xlink:label="phvs_PreferredSharesCMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesCMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Preferred shares C.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PreferredSharesCMember" xlink:to="phvs_PreferredSharesCMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesCMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preferred Shares C [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PreferredSharesCMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Preferred Shares C [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DividendsPaidOtherSharesPerShare" xlink:type="locator" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Dividend distributed</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidOtherSharesPerShare" xlink:to="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DividendsPaidOtherSharesPerShare_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Dividends Paid Other Shares Per Share</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trade And Other Current Payables To Trade Suppliers</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:type="locator" xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tax and social security liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Payables On Social Security And Taxes Other Than Income Tax</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Trade And Other Payables</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfAccruedLiabilitiesAbstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfAccruedLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of Accrued liabilities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfAccruedLiabilitiesAbstract" xlink:to="phvs_DisclosureOfAccruedLiabilitiesAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfAccruedLiabilitiesAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Accrued Liabilities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Financial Liabilities [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialLiabilitiesTable" xlink:to="ifrs-full_DisclosureOfFinancialLiabilitiesTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Financial Liabilities [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="locator" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Classes of financial liabilities [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Classes Of Financial Liabilities [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:type="locator" xlink:label="ifrs-full_FinancialLiabilitiesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial liabilities, class [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesMember" xlink:to="ifrs-full_FinancialLiabilitiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Financial Liabilities [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:type="locator" xlink:label="phvs_ConsultingProfessionalAndAuditLiabilityMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_ConsultingProfessionalAndAuditLiabilityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Consulting, professional and audit liability.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ConsultingProfessionalAndAuditLiabilityMember" xlink:to="phvs_ConsultingProfessionalAndAuditLiabilityMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_ConsultingProfessionalAndAuditLiabilityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Consulting Professional And Audit Liability [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ConsultingProfessionalAndAuditLiabilityMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Consulting Professional And Audit Liability [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ClinicalAccruedLiabilitiesMember" xlink:type="locator" xlink:label="phvs_ClinicalAccruedLiabilitiesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_ClinicalAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Clinical accrued liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ClinicalAccruedLiabilitiesMember" xlink:to="phvs_ClinicalAccruedLiabilitiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_ClinicalAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Clinical Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ClinicalAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Clinical Accrued Liabilities [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_ManufacturingAccruedLiabilitiesMember" xlink:type="locator" xlink:label="phvs_ManufacturingAccruedLiabilitiesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_ManufacturingAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Manufacturing accrued liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_ManufacturingAccruedLiabilitiesMember" xlink:to="phvs_ManufacturingAccruedLiabilitiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_ManufacturingAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Manufacturing Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_ManufacturingAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Manufacturing Accrued Liabilities [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PreclinicalAccruedLiabilitiesMember" xlink:type="locator" xlink:label="phvs_PreclinicalAccruedLiabilitiesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreclinicalAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Pre-clinical&#160;accrued liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PreclinicalAccruedLiabilitiesMember" xlink:to="phvs_PreclinicalAccruedLiabilitiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_PreclinicalAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Preclinical Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PreclinicalAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Preclinical Accrued Liabilities [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_PersonnelRelatedAccrualsMember" xlink:type="locator" xlink:label="phvs_PersonnelRelatedAccrualsMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelRelatedAccrualsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Personnel related accruals.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_PersonnelRelatedAccrualsMember" xlink:to="phvs_PersonnelRelatedAccrualsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelRelatedAccrualsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Personnel Related Accruals [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_PersonnelRelatedAccrualsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Personnel Related Accruals [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_OtherAccruedLiabilitiesMember" xlink:type="locator" xlink:label="phvs_OtherAccruedLiabilitiesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_OtherAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Other accrued liabilities.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_OtherAccruedLiabilitiesMember" xlink:to="phvs_OtherAccruedLiabilitiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_OtherAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other Accrued Liabilities [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_OtherAccruedLiabilitiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Other Accrued Liabilities [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Financial Liabilities [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:to="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Financial Liabilities [Line Items]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_StatementOfLineitemsLineItems" xlink:type="locator" xlink:label="phvs_StatementOfLineitemsLineItems" />
    <link:label xml:lang="en-US" xlink:label="phvs_StatementOfLineitemsLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">statement of Lineitems .</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_StatementOfLineitemsLineItems" xlink:to="phvs_StatementOfLineitemsLineItems_lbl" />
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Risk Management Strategy Related To Hedge Accounting [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable" xlink:to="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfRiskManagementStrategyRelatedToHedgeAccountingTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Risk Management Strategy Related To Hedge Accounting [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfRisksAxis" xlink:type="locator" xlink:label="ifrs-full_TypesOfRisksAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Types of risks [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Types Of Risks [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfRisksMember" xlink:type="locator" xlink:label="ifrs-full_TypesOfRisksMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Risks [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ifrs-full_TypesOfRisksMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Types Of Risks [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrencyRiskMember" xlink:type="locator" xlink:label="ifrs-full_CurrencyRiskMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrencyRiskMember" xlink:to="ifrs-full_CurrencyRiskMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Currency Risk [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CurrencyInWhichInformationIsDisplayedAxis" xlink:type="locator" xlink:label="ifrs-full_CurrencyInWhichInformationIsDisplayedAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrencyInWhichInformationIsDisplayedAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Currency in which information is displayed [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrencyInWhichInformationIsDisplayedAxis" xlink:to="ifrs-full_CurrencyInWhichInformationIsDisplayedAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CurrencyInWhichInformationIsDisplayedAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Currency In Which Information Is Displayed [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FunctionalOrPresentationCurrencyMember" xlink:type="locator" xlink:label="ifrs-full_FunctionalOrPresentationCurrencyMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FunctionalOrPresentationCurrencyMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Functional or presentation currency [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FunctionalOrPresentationCurrencyMember" xlink:to="ifrs-full_FunctionalOrPresentationCurrencyMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FunctionalOrPresentationCurrencyMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Functional Or Presentation Currency [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_USDMember" xlink:type="locator" xlink:label="phvs_USDMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_USDMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">USD.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_USDMember" xlink:to="phvs_USDMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_USDMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">USD [member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_USDMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">U S D [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_CHFMember" xlink:type="locator" xlink:label="phvs_CHFMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_CHFMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">CHF.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_CHFMember" xlink:to="phvs_CHFMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_CHFMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">CHF [member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_CHFMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">C H F [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_InterestRateRiskMember" xlink:type="locator" xlink:label="ifrs-full_InterestRateRiskMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Risk [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateRiskMember" xlink:to="ifrs-full_InterestRateRiskMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Risk [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CreditRiskMember" xlink:type="locator" xlink:label="ifrs-full_CreditRiskMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CreditRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CreditRiskMember" xlink:to="ifrs-full_CreditRiskMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CreditRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Credit Risk [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LiquidityRiskMember" xlink:type="locator" xlink:label="ifrs-full_LiquidityRiskMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liquidity risk [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiquidityRiskMember" xlink:to="ifrs-full_LiquidityRiskMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Liquidity Risk [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_StatementOfLineitemsLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Statement Of Lineitems [Line Items]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_StatementOfLineitemsLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Statement Of Lineitems [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade payables to suppliers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trade And Other Payables To Trade Suppliers</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Cash" xlink:type="locator" xlink:label="ifrs-full_Cash" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Cash_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Cash_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cash</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Borrowings" xlink:type="locator" xlink:label="ifrs-full_Borrowings" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Borrowings_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Borrowings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Borrowings_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Borrowings</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_FinancialAssets" xlink:type="locator" xlink:label="ifrs-full_FinancialAssets" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financial assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Financial Assets</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_NetProceedsFromInitialPublicOffering" xlink:type="locator" xlink:label="phvs_NetProceedsFromInitialPublicOffering" />
    <link:label xml:lang="en-US" xlink:label="phvs_NetProceedsFromInitialPublicOffering_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Net proceeds from initial public offering.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_NetProceedsFromInitialPublicOffering" xlink:to="phvs_NetProceedsFromInitialPublicOffering_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_NetProceedsFromInitialPublicOffering_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net proceeds from initial public offering</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_NetProceedsFromInitialPublicOffering_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Net Proceeds From Initial Public Offering</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable_lbl" xlink:type="resource" 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:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable" xlink:to="ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfAmountsToBeRecoveredOrSettledAfterTwelveMonthsForClassesOfAssetsAndLiabilitiesThatContainAmountsToBeRecoveredOrSettledBothNoMoreAndMoreThanTwelveMonthsAfterReportingDateTable_lbl" xlink:type="resource" 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:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_MaturityAxis" xlink:type="locator" xlink:label="ifrs-full_MaturityAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_MaturityAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maturity [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_MaturityAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Maturity [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:type="locator" xlink:label="ifrs-full_AggregatedTimeBandsMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregated time bands [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_AggregatedTimeBandsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Aggregated Time Bands [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:type="locator" xlink:label="ifrs-full_NotLaterThanOneYearMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Not later than one year [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Not Later Than One Year [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Later than one year and not later than five years [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Later Than One Year And Not Later Than Five Years [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TradeAndOtherPayables" xlink:type="locator" xlink:label="ifrs-full_TradeAndOtherPayables" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherPayables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade and other payables</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayables" xlink:to="ifrs-full_TradeAndOtherPayables_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TradeAndOtherPayables_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trade And Other Payables</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_Accruals" xlink:type="locator" xlink:label="ifrs-full_Accruals" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Accruals_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrued liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Accruals" xlink:to="ifrs-full_Accruals_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_Accruals_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Accruals</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Disclosure Of Transactions Between Related Parties [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Transactions Between Related Parties [Table]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:type="locator" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Types of share-based payment arrangements [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Types Of Sharebased Payment Arrangements [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_SharebasedPaymentArrangementsMember" xlink:type="locator" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share-based payment arrangements [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharebasedPaymentArrangementsMember" xlink:to="ifrs-full_SharebasedPaymentArrangementsMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Sharebased Payment Arrangements [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_RestrictedAwardAgreementMember" xlink:type="locator" xlink:label="phvs_RestrictedAwardAgreementMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_RestrictedAwardAgreementMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Restricted Award Agreement .</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_RestrictedAwardAgreementMember" xlink:to="phvs_RestrictedAwardAgreementMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_RestrictedAwardAgreementMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restricted Award Agreement</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_RestrictedAwardAgreementMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Restricted Award Agreement [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Categories of related parties [axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Categories Of Related Parties [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity&apos;s total for related parties [member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entitys Total For Related Parties [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember" xlink:to="ifrs-full_KeyManagementPersonnelOfEntityOrParentMember_lbl" />
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    <link:label xml:lang="en-US" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate_lbl" xlink:type="resource" 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:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnOneMonthAtGrantDate_lbl" xlink:type="resource" 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:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" xlink:type="locator" xlink:label="ifrs-full_DescriptionOfMaximumTermOfOptionsGrantedForSharebasedPaymentArrangement" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_PercentageOfStockOptionsVestOnEachMonth" xlink:type="locator" xlink:label="phvs_PercentageOfStockOptionsVestOnEachMonth" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" xlink:type="locator" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay" />
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    <link:label xml:lang="en-US" xlink:label="phvs_PercentageOfAggregateNumberOfStockOptionsShallVestOnLastDay_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of aggregate number of stock options shall vest on last day</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_PercentageOfStockOptionsVestOnEachMonth_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Percentage of stock options vest on each month</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:type="locator" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" xlink:type="locator" xlink:label="phvs_DisclosureofnumberandweightedaverageexercisepricesofshareoptionsAbstract" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Outstanding Share Options</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number stock options, Granted</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:type="locator" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:type="locator" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsAbstract" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:type="locator" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Number of RSUs, Beginning balance</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Other Equity Instruments Outstanding In Sharebased Payment Arrangement</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:type="locator" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Instruments Other Equity Instruments Granted</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" xlink:type="locator" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Other Equity Instruments Exercised Or Vested In Sharebased Payment Arrangement</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement" xlink:type="locator" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Number Of Other Equity Instruments Forfeited In Sharebased Payment Arrangement</link:label>
    <link:label xml:lang="en-US" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Number of RSUs, Ending balance</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Beginning balance , Weighted average</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement2019_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Weighted Average Exercise Price Of Other Equity Instruments Outstanding In Sharebased Payment Arrangement2019</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019" xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement2019_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Granted , Weighted average</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019" xlink:type="locator" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsExercisedOrVestedInSharebasedPaymentArrangement2019" />
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:type="locator" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_FairValueOfTheOptions" xlink:type="locator" xlink:label="phvs_FairValueOfTheOptions" />
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    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodAbstract" xlink:type="locator" xlink:label="phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodAbstract" />
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    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedOtherEquityInstrumentsGrantedDuringPeriodAbstract_lbl" xlink:type="resource" 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:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsTable_lbl" xlink:type="resource" 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:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" xlink:type="locator" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Valuation techniques used in fair value measurement [axis]</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_ValuationTechniquesUsedInFairValueMeasurementAxis_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Valuation Techniques Used In Fair Value Measurement [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ValuationTechniquesMember" xlink:type="locator" xlink:label="ifrs-full_ValuationTechniquesMember" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ValuationTechniquesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Valuation techniques [member]</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_ValuationTechniquesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Valuation Techniques [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_BlackScholesFormulaMember" xlink:type="locator" xlink:label="phvs_BlackScholesFormulaMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_BlackScholesFormulaMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Black Scholes Formula [member].</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_BlackScholesFormulaMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Black Scholes Formula [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_OptionOneMember" xlink:type="locator" xlink:label="phvs_OptionOneMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_OptionOneMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Option 1.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_OptionOneMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Option 1 [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_OptionOneMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Option One [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_OptionTwoMember" xlink:type="locator" xlink:label="phvs_OptionTwoMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_OptionTwoMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Option 2.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_OptionTwoMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Option 2 [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_OptionTwoMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Option Two [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsLineItems" xlink:type="locator" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsLineItems" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsLineItems" xlink:to="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsLineItems_lbl" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsLineItems_lbl" xlink:type="resource" 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:label="phvs_FairValueOfTheOptions_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of the options</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_FairValueOfTheOptions_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of The Options</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_FairValueOfTheOrdinaryShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of the ordinary shares</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_FairValueOfTheOrdinaryShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of The Ordinary Shares</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_BasicAndDilutedEarningsPerShare1Abstract" xlink:type="locator" xlink:label="phvs_BasicAndDilutedEarningsPerShare1Abstract" />
    <link:label xml:lang="en-US" xlink:label="phvs_BasicAndDilutedEarningsPerShare1Abstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Basic And Diluted Earnings Per Share 1 [Abstract]</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_BasicAndDilutedEarningsPerShare1Abstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Basic And Diluted Earnings Per Share1 [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EarningsPerShareTable" xlink:type="locator" xlink:label="ifrs-full_EarningsPerShareTable" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EarningsPerShareTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings Per Share [Table]</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_EarningsPerShareTable_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share [Table]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_SeriesAPreferredSharesMember" xlink:type="locator" xlink:label="phvs_SeriesAPreferredSharesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_SeriesAPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Series A preferred shares.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_SeriesAPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Series A Preferred Shares [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_SeriesAPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Series A Preferred Shares [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_SeriesBPreferredSharesMember" xlink:type="locator" xlink:label="phvs_SeriesBPreferredSharesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_SeriesBPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Series B preferred shares.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_SeriesBPreferredSharesMember" xlink:to="phvs_SeriesBPreferredSharesMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_SeriesBPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Series B Preferred Shares [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_SeriesBPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Series B Preferred Shares [Member]</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_SeriesCPreferredSharesMember" xlink:type="locator" xlink:label="phvs_SeriesCPreferredSharesMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_SeriesCPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Series C preferred shares.</link:label>
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    <link:label xml:lang="en-US" xlink:label="phvs_SeriesCPreferredSharesMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Series C Preferred Shares [Member]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_EarningsPerShareLineItems" xlink:type="locator" xlink:label="ifrs-full_EarningsPerShareLineItems" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_EarningsPerShareLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings Per Share [Line Items]</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_EarningsPerShareLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_WeightedAverageShares" xlink:type="locator" xlink:label="ifrs-full_WeightedAverageShares" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_WeightedAverageShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted Average Shares</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_WeightedAverageShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Weighted Average Shares</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loss attributable to equity holders of the Company</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Profit Loss Attributable To Owners Of Parent</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:type="locator" xlink:label="ifrs-full_AdjustedWeightedAverageShares" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Weighted average number of ordinary shares outstanding</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Adjusted Weighted Average Shares</link:label>
    <link:loc xlink:href="phvs-20211231.xsd#phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems" xlink:type="locator" xlink:label="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems" />
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of information about key management personnel.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems" xlink:to="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems_lbl" />
    <link:loc xlink:href="phvs-20211231.xsd#phvs_CharitResearchOrganisationGmbhMember" xlink:type="locator" xlink:label="phvs_CharitResearchOrganisationGmbhMember" />
    <link:label xml:lang="en-US" xlink:label="phvs_CharitResearchOrganisationGmbhMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation">Charit&#233; research organisation GmbH.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="phvs_CharitResearchOrganisationGmbhMember" xlink:to="phvs_CharitResearchOrganisationGmbhMember_lbl" />
    <link:label xml:lang="en-US" xlink:label="phvs_CharitResearchOrganisationGmbhMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Charit Research Organisation GMBH[Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_CharitResearchOrganisationGmbhMember_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Charit Research Organisation Gmbh [Member]</link:label>
    <link:label xml:lang="en-US" xlink:label="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems_lbl" xlink:type="resource" 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:label="phvs_DisclosureOfInformationAboutKeyManagementPersonnelLineItems_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Disclosure Of Information About Key Management Personnel [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_TransfersOfResearchAndDevelopmentFromEntityRelatedPartyTransactions" xlink:type="locator" xlink:label="ifrs-full_TransfersOfResearchAndDevelopmentFromEntityRelatedPartyTransactions" />
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_TransfersOfResearchAndDevelopmentFromEntityRelatedPartyTransactions_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Transfers Of Research And Development From Entity Related Party Transactions</link:label>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2021-03-24/full_ifrs/full_ifrs-cor_2021-03-24.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="locator" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" />
    <link:label xml:lang="en-US" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Short term employee benefits</link:label>
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    <link:label xml:lang="en-US" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Key Management Personnel Compensation Shortterm Employee Benefits</link:label>
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