Wellington Partners co-leads €30 million Series A financing in Confo Therapeutics
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.
Cedric Ververken, CEO of Confo Therapeutics, commented: “We appreciate the strong and continued support from our existing investors, who have enabled the Company to progress to this point. We are proud to welcome BGV, Wellington Partners, Fund+ and Perceptive Advisors as new investors, completing a high-quality international syndicate. We look forward to boosting the company’s drug discovery engine and advancing our portfolio of GPCR-modulating compounds.”
About Confo Therapeutics
Confo Therapeutics is a VUB-VIB spin-off co-founded in 2015 by VIB and Capricorn Venture Partners with the support of MINTS, PMV, QBIC and V-Bio Ventures. The Company is building a portfolio of first-in-class programs based on its proprietary Confo® technology which derives highly specialised camelid single domain antibodies or “ConfoBodiesTM” which stabilize G-protein coupled receptors (GPCRs) in a conformation of interest for drug discovery.
GPCRs are attractive drug targets in the treatment of many different conditions, playing an essential part in numerous life processes and influencing diseases.
In addition to developing its own pipeline, Confo Therapeutics is entering into revenue-generating drug discovery partnerships with select pharma companies, on GPCR targets which do not compete with its internal projects. The Company has ongoing collaborations with Lundbeck and Roche.
About Wellington Partners
Wellington Partners is a leading European Venture Capital firm investing in early- and growth stage Life Science companies, active in the fields of Therapeutics, Medical Technology, Diagnostics, Digital Health and Industrial Biotechnology. With funds totaling more than €1.0 billion, thereof €400 million committed to Life Sciences, Wellington Partners has been actively supporting world class private companies translating true innovation into successful businesses of exceptional growth. Since 1998, Wellington Partners has invested in 42 Life Science start-ups, including Definiens (acquired by AZ/Medimmune), Rigontec (acquired by MSD) and Symetis (acquired by Boston Scientific).
For more information please contact:
Dr. Marianne Mertens, Principal WPLS, +49 (0) 89 21 99 41 29,
Dr. Regina Hodits, Managing Partner WPLS, +49 (0) 89 21 99 41 20,