Confo Therapeutics closes €60m Series B financing
Belgian GPCR specialist Confo Therapeutics NV has raised €60m in an Series B financing round led by Ackermans & van Haaren to advance clinical development of two clinical programmes and preclinical candidates to treat rare endocrine diseases and obesity.
“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.”
Besides lead investor Ackermans & van Haaren new investors and 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 participated in the financing.
The money will be used to finance Phase I testing of the AT2 receptor antagonist CFTX-1334 designed to treat peripheral pain together with Confo’s partner Lilly as well as one of Confo’s proprietary GPCR agonists in lead optimisation stage, targeting SST receptor 4 (pain), MC1 receptor (fibrosis) or SST receptor 5 (hyperglycaemia). Furthermore, development of two programmes in discovery stage will be pushed forward through IND, a GPR75 antagonist to treat obesity and a PTH receptor 1 agonist to treat hyperparathyroidism. Additionally, some money will be channeled into the discovery of novel Class B GPCRs modulators for rare endocrine disorders.
As part of the Series B financing round, Dr. Vangindertael, Investment Manager at Ackermans & van Haaren will join Confo’s Board of Directors, and Mr. Alex Munns, Assistant Portfolio Manager at Driehaus, will be appointed as Board Observer.
