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news.Belgium-based Confo Therapeutics has secured €60m ($65m) in a Series B financing round to propel its pipeline of G protein-coupled receptor (GPCR)-modulating therapies into clinical development.
This funding will enable the advancement of programmes, including molecules aimed at GPR75 for treating obesity. Credit: Vidmir Raic from Pixabay.
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Ackermans & van Haaren spearheaded the investment round, with participation from both new investors including Driehaus Capital Management and Quest for Growth.
Current investors namely BioGeneration Ventures, Capricorn Health-tech Fund, Fund+, MINTS, Perceptive Advisors, Qbic, PMV, V-Bio Ventures, VIB and Wellington Partners also took part.
This funding will enable the advancement of two programmes through Phase I clinical trials and two more to investigational new drug (IND) approval, including molecules aimed at GPR75 for treating obesity.
The company will also expand its portfolio of small molecules and therapeutic antibodies, including agonistic antibodies.
Confo Therapeutics CEO Cedric Ververken 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.”
In conjunction with the Series B funding, AvH investment manager Dr Jeroen Vangindertael will become part of the board of directors of Confo while Driehaus assistant portfolio manager Alex Munns will serve as board observer.
Confo Therapeutics focuses on the discovery and development of medicines that target GPCRs.
Utilising its discovery platform, which employs conformation-specific ConfoBodies, the company aims to unlock functionally relevant states of GPCRs.
The platform is vital in developing a promising pipeline aimed at improving therapeutic outcomes, particularly in metabolic and endocrine diseases.
Vangindertael said: “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.”
