Confo Therapeutics Series B 2024

TLDR

Confo Therapeutics raised EUR 60M in a Series B round in July 2024 led by Ackermans and van Haaren to advance its GPCR-based drug discovery platform.

Overview

The EUR 60M Series B led by Ackermans and van Haaren, one of Belgium's most respected listed investment holding companies, provides Confo Therapeutics with significant capital to advance its pipeline of GPCR-targeted drugs.

Confo Therapeutics was founded in Ghent as a VIB spin-off, applying proprietary conformational antibody technology to stabilize and drug GPCRs (G protein-coupled receptors), a class of protein targets that are implicated in a wide range of diseases but are notoriously difficult to work with in drug discovery.

The Series B is a major milestone for Ghent's life sciences cluster and validates the commercial potential of VIB-derived platform technologies. Ackermans and van Haaren's direct lead of a biotech round is notable, as the holding company more typically invests in mature industrial and services businesses.