Confo Therapeutics Raises €30 Million in Series A Financing

Round led by BioGeneration Ventures and co-led by Wellington
Partners, with investments by Fund+, Perceptive Advisors and existing
investors

GHENT, Belgium–(BUSINESS WIRE)–Confo Therapeutics, an emerging drug discovery company, today announces
the completion of a €30 million ($33.4 million) Series A financing. The
investment was led by BioGeneration Ventures (BGV) and co-led by
Wellington Partners, with the addition of new investors Fund+ and
Perceptive Advisors. Existing investors Capricorn Health-Tech Fund,
Qbic, Participatie Maatschappij Vlaanderen NV (PMV), MINTS (University
of Michigan), V-Bio Ventures and VIB also took part in the current
financing round.

The funds will be used to accelerate the Company’s ConfoBody^TM-enabled
drug discovery activities and to develop its pipeline of GPCR modulating
compounds to produce drug candidates for clinical trials. Confo
Therapeutics’ proprietary ConfoBodies^TM are single domain
antibodies uniquely derived to be selective and stabilize G-protein
coupled receptors (GPCRs) in specific conformations, and as a result are
valuable tools for drug discovery.

Edward van Wezel, Managing Partner at BGV, commented: “We are impressed
by the power of the ConfoBody^TM platform for the discovery of
compounds targeting difficult-to-drug GPCRs, the very promising pipeline
and the stellar team that has been put in place. The size of the current
round and the quality of the investors, existing and new, underline the
potential of Confo Therapeutics.”

Johan Cardoen, Managing Director of VIB added: “We are pleased with the
tremendous progress made by Confo Therapeutics since its inception. The
team has implemented the application of ConfoBody^TM-enabled
drug discovery on an industrial scale, has secured strategic
partnerships with Lundbeck and Roche, and is building a compelling
portfolio of GPCR agonists.”

Cedric Ververken, CEO of Confo Therapeutics, commented: “We appreciate
the strong and continued support from our existing investors, who have
enabled the Company to progress to this point. We are proud to welcome
BGV, Wellington Partners, Fund+ and Perceptive Advisors as new
investors, completing a high-quality international syndicate. We look
forward to boosting the company’s drug discovery engine and advancing
our portfolio of GPCR-modulating compounds.”

– End –

About Confo Therapeutics

Confo Therapeutics is a VUB-VIB spin-off co-founded in 2015 by VIB and
Capricorn Venture Partners with the support of MINTS, PMV, QBIC and
V-Bio Ventures. The Company is building a portfolio of first-in-class
programs based on its proprietary Confo® technology which derives highly
specialised camelid single domain antibodies or “ConfoBodies^TM”
which stabilize G-protein coupled receptors (GPCRs) in a conformation of
interest for drug discovery.

GPCRs are attractive drug targets in the treatment of many different
conditions, playing an essential part in numerous life processes and
influencing diseases.

In addition to developing its own pipeline, Confo Therapeutics is
entering into revenue-generating drug discovery partnerships with select
pharma companies, on GPCR targets which do not compete with its internal
projects. The Company has ongoing collaborations with Lundbeck and Roche.

More info: www.confotherapeutics.com

Contacts

Confo Therapeutics
Dr Cedric Ververken, CEO
+ 32 (0)9
261 0670
info@confotherapeutics.com

For
English-speaking and International Media:
Instinctif
Partners for Confo Therapeutics
Dr Christelle Kerouedan, Sue
Charles
+ 44 (0)20 7457 2020
confotherapeutics@instinctif.com

For
Belgian Media:
Turnstone Communications for Confo
Therapeutics
Dr Ann Van Gysel, Björn Debusschere
+32 (0)9
218 71 97
ann.vangysel@turnstone.be