Confo bags $60 million to focus on agonistic GPCR antibodies

Confo Therapeutics raised over $60 million in funding led by Ackermans & van Haaren. The proceeds will be used to finance two phase 1 studies for their proprietary pipeline programs and for advancing two additional programs to IND/CTA. The company will also boost R&D efforts to discover new development candidates for endocrinal diseases and obesity. The focus will be on agonistic GPCR antibodies. The CEO of the company, Cedric Ververken, stated that the industry has been unsuccessful in generating agonistic GPCR antibodies for years, however, their approach could pave a new path for delivering novel therapies.