Confo’s €30M growth plan
BioGeneration, Wellington lead series A for GPCR agonist company Confo
Two pharma deals and early preclinical data from Confo’s GPCR-modulating compounds persuaded BioGeneration and Wellington to make their first investments in a company targeting G protein-coupled receptors. A €30 million ($33.6 million) series A round, announced on Tuesday and co-led by the firms, will help the Belgian company push its lead fibrosis candidate into Phase I testing and develop at least two more compounds for orphan diseases.
Since Confo Therapeutics N.V. spun out of Flanders Institute for Biotechnology (VIB) in 2015, the company has developed a discovery platform based on ConfoBodies, antibody fragments that allow for high throughput screening of agonists for GPCRs. The company raised a €3 million ($3.4 million) seed round the same year (see “Confo(rmation) Active”)....