Confo Therapeutics, a Ghent, Belgium-based drug discovery company, completed a €30m ($33.4m) Series A financing.
The round was led by BioGeneration Ventures (BGV) and co-led by Wellington Partners, with participation from new investors Fund+ and Perceptive Advisors and existing investors Capricorn Health-Tech Fund, Qbic, Participatie Maatschappij Vlaanderen NV (PMV), MINTS (University of Michigan), V-Bio Ventures and VIB.
The company intends to use the funds to accelerate its drug discovery activities and to develop its pipeline of GPCR modulating compounds to produce drug candidates for clinical trials.
Led by Cedric Ververken, CEO, Confo Therapeutics is building a portfolio of programs based on its proprietary Confo® technology which derives highly specialized camelid single domain antibodies or “ConfoBodiesTM” which stabilize G-protein coupled receptors (GPCRs) in a conformation of interest for drug discovery. Its proprietary ConfoBodiesTM are single domain antibodies derived to be selective and stabilize G-protein coupled receptors (GPCRs) in specific conformations, and as a result are valuable tools for drug discovery.
The company is a VUB-VIB spin-off co-founded in 2015 by VIB and Capricorn Venture Partners with the support of MINTS, PMV, QBIC and V-Bio Ventures.