Confo Therapeutics raises € 30 million in Series A financing
Ghent, Belgium: 7 May 2019 – Confo Therapeutics, an emerging drug discovery company, today announces the completion of a € 30 million ($ 33.4 million) Series A financing. The investment was led by BioGeneration Ventures (BGV) and co-led by Wellington Partners, with the addition of new investors Fund+ and Perceptive Advisors. Existing investors Capricorn Health-Tech Fund, Qbic, Participatie Maatschappij Vlaanderen NV (PMV), MINTS (University of Michigan), V-Bio Ventures and VIB also took part in the current financing round.
The funds will be used to accelerate the Company’s ConfoBodyTM-enabled drug discovery activities and to develop its pipeline of GPCR modulating compounds to produce drug candidates for clinical trials. Confo Therapeutics’ proprietary ConfoBodiesTM are single domain antibodies uniquely derived to be selective and stabilize G-protein coupled receptors (GPCRs) in specific conformations, and as a result are valuable tools for drug discovery.
More info on Confo Therapeutics’ website