Confo Therapeutics Secures EUR 60M Series B for GPCR Therapy Development

Confo Therapeutics, a clinical-stage biotechnology company, has announced the successful completion of a significant EUR 60 million Series B financing round. This financing round was led by Ackermans & van Haaren (AvH) and saw participation from both new investors, such as Driehaus Capital Management and Quest for Growth (QfG), as well as existing investors including BioGeneration Ventures (BGV), Capricorn Health-tech Fund (CHF), Fund+, MINTS (University of Michigan), Perceptive Advisors, Qbic, PMV, V-Bio Ventures, VIB, and Wellington Partners.

The funds raised will be directed towards advancing two wholly owned programs through Phase 1 clinical trials and moving two additional programs towards Investigational New Drug (IND) approval. Among these are molecules aimed at targeting GPR75 for the treatment of obesity. Confo plans to expand its repertoire of GPCR-targeting small molecules and therapeutic antibodies, with a particular focus on developing agonistic antibodies.

Cedric Ververken, CEO of Confo Therapeutics, expressed his enthusiasm regarding the support from the international investor syndicate, highlighting the company's plans to accelerate its development pipeline. This includes potential new therapies for severe and rare endocrine diseases, as well as next-generation drugs for obesity that could serve as alternatives or supplements to GLP-1R agonists.

Jeroen Vangindertael, Investment Manager at AvH, commended Confo Therapeutics for its proprietary platform, experienced team, and innovative strategy in developing treatments for obesity and rare endocrine disorders. He emphasized the company's capability in discovering agonistic antibodies targeting GPCRs, which opens new avenues for novel medicine development. Vangindertael also expressed privilege in contributing to Confo's mission along with a syndicate of specialist life science investors.

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

Dieter Weinand, Independent Chairman of the Board of Confo Therapeutics, welcomed the new investors and expressed gratitude for their support as the company embarks on the next phase of development. He noted that the continued backing from existing investors would enable the team to advance therapeutic candidates aimed at improving the lives of patients with metabolic and endocrine disorders.

Confo Therapeutics, headquartered in Ghent, Belgium, is dedicated to discovering and developing novel medicines targeting G-protein coupled receptors (GPCRs). The company employs a proprietary discovery platform that uses conformation-specific ConfoBodies® to promote GPCRs into functionally relevant states. This approach facilitates the discovery of small molecules and antibodies with desired pharmacological properties. The company's pipeline is focused on transforming therapeutic outcomes for patients, particularly in the areas of metabolic and endocrine diseases, driven by a team of experts with extensive experience in GPCR-directed medicine discovery and development.