New biotech company Confo Therapeutics launched in Belgium
The establishment of Confo Therapeutics, a spin-off of VIB and Vrije Universiteit Brussel, Belgium, was announced today.
A consortium led by Capricorn Health-Tech Fund with the participation of Qbic and SOFI contributed 3 million euros ($3.4 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 Professor 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.
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