Confo Therapeutics funding news – Belgium-based Confo Therapeutics Secures €60Million in Series B Round Funding

The round was led by Ackermans & van Haaren (AvH) and included participation from additional new investors, Driehaus Capital Management and Quest for Growth (QfG), as well as existing investors, BioGeneration Ventures (BGV), Capricorn Health-tech Fund (CHF), Fund+, MINTS (University of Michigan), Perceptive Advisors, Qbic, PMV, V-Bio Ventures, VIB and Wellington Partners.

Read also - Enty funding news – Talinn-based Enty has Secures €700k in Seed Funding

The proceeds will be used to advance two, wholly owned programs through Phase 1 and two additional programs to IND approval, including molecules targeting GPR75 for obesity. Confo will expand its portfolio of GPCR-targeting small molecules and therapeutic antibodies, which includes an emphasis on agonistic antibodies.

Cedric Ververken, CEO of Confo Therapeutics said, “With the support from our experienced international investor syndicate, we plan to accelerate our ambitious development pipeline, Our plans include potential new therapies for severe rare endocrine diseases, as well as next-generation obesity drugs which could be used in combination with, or as an alternative to, GLP-1R agonists.”

Jeroen Vangindertael, Investment Manager at AvH added: “We have followed Confo’s development and have been repeatedly impressed with Confo’s proprietary platform and its experienced team, as well as their strategy for novel treatments in obesity and rare endocrine disorders. We are especially excited by the remarkable ease with which Confo can discover agonistic antibodies directed to GPCRs, opening up a new route to generating novel medicines. We feel privileged to contribute to the mission of Confo Therapeutics and its exceptional management team together with this syndicate of specialist life science investors.”

As part of the Series B financing round, Dr. Vangindertael will join Confo’s Board of Directors, and Mr. Alex Munns, Assistant Portfolio Manager at Driehaus, will be appointed as Board Observer.

Dieter Weinand, Independent Chairman of the Board of Confo Therapeutics said, “I am delighted to welcome our new investors and thank them for their support as we enter our next phase of development,” “In combination with the continued backing of our existing investors, the team will be able to focus on advancing these therapeutic candidates to benefit patients living with metabolic and endocrine disorders.”

About Confo Therapeutics

Confo Therapeutics is a clinical-stage biotechnology company committed to identifying and accelerating novel medicines targeting GPCRs (G protein-coupled receptors). It discovers small molecules and antibodies with the desired pharmacology by employing its proprietary discovery platform which uses conformation-specific ConfoBodies® to promote GPCRs into functionally relevant states. Using its platform, the company is building a pipeline of product candidates to transform therapeutic outcomes for patients with a focus on metabolic and endocrine diseases.