This investment will significantly advance their pipeline of novel GPCR-modulating therapies.
Confo Therapeutics, a pioneering biotech firm from Ghent focused on G-protein coupled receptor (GPCR) medicines, announced today the successful closing of a 60 million euros Series B financing round.
Leading the funding round was Ackermans & van Haaren (AvH), joined by new investors Driehaus Capital Management and Quest for Growth (QfG).
Existing backers, 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, also participated.
The raised funds will be allocated to progressing two of Confo’s programs through Phase 1 clinical trials and pushing two additional programs towards Investigational New Drug (IND) approval. Notably, these include molecules targeting GPR75 for obesity treatment. Confo aims to expand its repertoire of GPCR-targeting small molecules and therapeutic antibodies, with a particular focus on agonistic antibodies.
Cedric Ververken, CEO of Confo Therapeutics, expressed his enthusiasm, stating, “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.”
