Confo Therapeutics Secures $60M to Advance GPCR Antibody Research
Enschede, Friday, 2 August 2024.
Confo Therapeutics raised $60 million in Series B funding to develop agonistic GPCR antibodies, focusing on rare endocrine diseases and obesity. The company aims to lead in this emerging field, with plans for clinical trials and expansion of their R&D efforts.
The Significance of GPCR Antibodies
Agonistic GPCR (G-protein coupled receptors) antibodies represent a significant breakthrough in the field of biotechnology. These antibodies target specific GPCRs, which are integral membrane proteins involved in numerous physiological processes. GPCRs are a major target in drug development due to their involvement in various diseases, including rare endocrine disorders and obesity. Confo Therapeutics, a clinical-stage biotechnology company based in Ghent, Belgium, aims to leverage this technology to provide innovative treatments for these conditions.
How It Works
Confo Therapeutics utilizes a proprietary discovery platform that employs ConfoBodies®, which are llama-derived antibody fragments, to stabilize GPCRs. This stabilization allows for the identification of drug-like molecules that can specifically modulate these receptors. By targeting GPCRs with high specificity, the potential for off-target effects is reduced, leading to safer and more effective treatments. The company’s technology is particularly adept at discovering agonists, either as small molecules or antibodies, which can activate GPCRs to treat various conditions.
Funding and Future Plans
The recent $60 million Series B funding round, led by Ackermans & van Haaren, will support Confo Therapeutics in advancing two of its proprietary programs through Phase 1 clinical trials. Additionally, the company plans to push two more programs towards IND (Investigational New Drug) approval. These efforts will focus on developing treatments for rare endocrine diseases and obesity, targeting specific receptors such as GPR75. This funding not only strengthens Confo’s financial position but also underscores the growing interest and investment in GPCR-targeted therapies.
Leadership and Vision
Under the leadership of CEO Cedric Ververken, Confo Therapeutics has set ambitious goals to become a leader in the GPCR antibody market. Ververken highlighted the importance of GPCRs in drug development, noting that over 30% of all drug sales involve molecules that interact with these receptors. The company’s focus on rare and underserved diseases aligns with its mission to improve therapeutic outcomes for patients with significant unmet medical needs. With a robust pipeline and a strong leadership team, Confo is well-positioned to make substantial contributions to the biotech landscape.
Bronnen
- www.labiotech.eu
- www.life-sciences-germany.com
- www.finsmes.com
- finance.yahoo.com
- fundplus.be
- www.fiercebiotech.com