Confo Therapeutics Announces EUR 60M Series B Financing to Advance a Pipeline of Novel GPCR-Modulating Therapies into Clinical Development

Proceeds to support Phase 1 clinical trials for two proprietary programs, and to advance two additional programs to IND approval

06-Aug-2024
Computer-generated image

Symbolic image

Confo Therapeutics announced the closing of a EUR 60M Series B financing. 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.

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.

“With the support from our experienced international investor syndicate, we plan to accelerate our ambitious development pipeline,” said Cedric Ververken, CEO of Confo Therapeutics. “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.”

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.

Other news from the department business & finance

Most read news

More news from our other portals

Fighting cancer: latest developments and advances

Something is happening in the life science industry ...

This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.