Confo Therapeutics is awarded EUR 2.6M in non-dilutive funding

February 1, 2017 News Turnstone Communications

Confo Therapeutics, an emerging drug discovery company, today announced that it has received a €1.6 million grant from Flanders Innovation & Entrepreneurship (VLAIO). Confo Therapeutics will use the grant, which has a duration of 2 years and which will mostly be allocated to the Company’s Drug Discovery Center in Gent, to discover new GPCR agonist compounds for the treatment of fibrosis.

Last month, through its Target Discovery Center in Brussels, the Company was also awarded a €0.97 million grant from Innoviris, the Brussels Institute for the encouragement of scientific research and innovation, to further broaden the applicability of its proprietary Confo® technology.

Commenting on the grants, Dr. Cedric Ververken, CEO, said: “We are honored and grateful for the grant award from both VLAIO and Innoviris, bringing in a total of €2.6 million non-dilutive funding over a period of 2 years. The VLAIO grant will allow us to speed up our efforts to find new disease modifying therapeutics for patients with fibrosis of the liver, lungs or other organs, who currently lack effective treatment options. The Innoviris grant will be deployed to further strengthen our technical capabilities and to build internal critical mass in GPCR biochemistry and Confobody discovery in the Company’s Brussels site.”

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Turnstone Communications
Turnstone Communications

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