New biotech company Confo Therapeutics launched - spin-off VIB and VUB
The establishment of Confo Therapeutics, a spin-off of VIB and Vrije Universiteit Brussel, was announced on June 24th. 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.