Date: 2016-02-02
Type of information: Fundraising
Company: Confo Therapeutics (Belgium)
Investors: Capricorn Venture Partners (Belgium) Qbic (Belgium) SOFI (Belgium) MINTS (University of Michigan) (USA - MI) Participatie Maatschappij Vlaanderen NV (PMV) (Belgium) V-Bio Ventures (V-Bio) (Belgium) VIB (Belgium)
Amount: fundraising
Funding type: €6.7 million
Planned used: Confo Therapeutics is an emerging drug discovery company incorporated in June 2015. The company is building a pipeline of development programs targeting G protein-coupled receptors (GPCRs) that are currently considered undruggable. CONFO® technology is Confobodies (camelid single domain antibodies). This technology allows medically relevant GPCRs to be stabilized in their active signaling state, revealing new binding pockets accessible for drug discovery. The funds will be used to further establish the company in agonist GPCR drug screening, expand the team and build a portfolio of first in class pre-clinical development programs in therapeutically relevant disease areas.
Others: * On February 2, 2016, Confo Therapeutics, an emerging drug discovery company, announced the completion of its first financing round at €6.7 million. Incorporated in June 2015 by VIB and lead investor Capricorn Venture Partners, Confo Therapeutics received its initial financing from the Capricorn Health-Tech Fund, Qbic and SOFI. MINTS (University of Michigan), Participatie Maatschappij Vlaanderen NV (PMV), V-Bio Ventures (V-Bio) and VIB have joined the initial investors syndicate. In addition, Confo Therapeutics secured an IP license agreement with university collaborators VIB, VUB, University of Michigan and Stanford University. Both VIB and University of Michigan (MINTS program) made a direct investment in the company.
Following this round of financing, the company board of directors will comprise of Els Beirnaert (VIB), Chris De Jonghe (PMV), Ekaterina Smirnyagina (Capricorn), Christina Takke (V-Bio), Marc Zabeau (Qbic) and Stephane van Rooijen (CEO).
Therapeutic area:
