Ghent, Belgium, 23 September 2019 – Confo Therapeutics, a pioneering biopharma company, today announces that it has been named by FierceBiotech as one of 2019’s Fierce 15 biotechnology companies, designating it as one of the most promising private biotechnology companies in the industry.
Confo Therapeutics is building a portfolio of new medicines based on its proprietary Confo® technology. The technology makes use of antibody fragments or “ConfoBodiesTM” to stabilize G-protein coupled receptors (GPCRs) in their functional conformation, providing a superior starting point for drug design.
GPCRs are attractive drug targets, however many have yet to be drugged successfully due to challenges in dissecting their complicated downstream pharmacology, or the inability to identify suitable compounds. Confo’s suite of highly sensitive ConfoBody based screening methods (ConfoScreenTM) enables the identification of novel chemical starting points, and the determination of 3D structures (ConfoStructureTM), allowing for the rational design of new medicines with optimal properties.
Confo Therapeutics was founded in 2015 by VIB and Capricorn Venture Partners, with the support of MINTS, PMV, QBIC and V-Bio Ventures. In May 2019, Confo raised €30 million in a Series A financing from a high-quality international investor syndicate which saw the addition of BioGeneration Ventures (BGV), Fund+, Perceptive Advisors, and Wellington Partners.
Cedric Ververken, CEO of Confo Therapeutics, commented: “To be named as one of FierceBiotech’s Fierce 15 is a great endorsement of the Company, and provides validation of the hard work done by the team. This important recognition comes in a truly transformative year for Confo Therapeutics, in which we have concluded a major financing round with a high-quality international investor syndicate, and made significant progress to becoming a leading GPCR company.”
The Fierce 15 celebrates the spirit of being “fierce” – championing innovation and creativity, even in the face of intense competition. This is FierceBiotech’s 17th annual Fierce 15 selection.
About FierceBiotech and the “Fierce 15”
An internationally recognized daily report reaching a network of over 285,000 biotech and pharma industry professionals, FierceBiotech provides subscribers with an authoritative analysis of the day's top stories. Every year FierceBiotech evaluates hundreds of private companies from around the world for its annual Fierce 15 list, which is based on a variety of factors such as the strength of its technology, partnerships, venture backers and a competitive market position.
About Confo Therapeutics
Confo Therapeutics is building a portfolio of first-in-class programs based on its proprietary Confo®; technology which makes use of antibody fragments or “ConfoBodiesTM” to stabilize G-protein coupled receptors (GPCRs) in a particular conformation of interest as a superior starting point 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.
Confo Therapeutics was spun out of Vrije Universiteit Brussel and VIB in 2015 and has since raised over €36.7 million from an international investor syndicate (BioGeneration Ventures, Capricorn Venture Partners, Fund+, MINTS, Perceptive Advisors, PMV, QBIC, V-Bio Ventures, VIB and Wellington Partners).
More info: www.confotherapeutics.com
Issued for and on behalf of Confo Therapeutics by Instinctif Partners.
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