New biotech company Confo Therapeutics launched by VIB and Vrije Universiteit Brussel: Capricorn Venture Partners leads 1st financing round of 3 million
Ghent, Belgium: 24 June 2015 - The establishment of Confo Therapeutics, a spin-off of VIB and Vrije Universiteit Brussel, was announced today. A consortium led by Capricorn Health-Tech Fund with the participation of Qbic and SOFI contributed € 3 million in the first institutional round of investment. These resources will be used to develop further the innovative CONFO® technology platform and initiate drug discovery programs.
Confo Therapeutics originates from the CONFO® technology developed by Prof. Jan Steyaert and his team (VIB/Vrije Universiteit Brussel). For the first time, this technology allows medically relevant GPCRs (G-protein coupled receptors) to be stabilized in their active functional state, which is essential for drug discovery. Confo Therapeutics will start with a team of six employees, under the supervision of Stephane van Rooijen, formerly from Genzyme and Viropharma.
More information on the press release.
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