Pitch Best PE Venture Capital 2019 – Life Sciences: Confo Therapeutics

Category:                     Best PE Venture Capital deal – Life Sciences 2019
Name of the deal:        Confo Therapeutics raises €30 million in Series A Investment Round. 
Date closed:                 14th of May 2019
Published value:         €30 million
Buyer:                          Capricorn, Qbic, PMV, BioGeneration Ventures, Wellington Partners, Fund+ and Perceptive Advisors. 
Target:                         Confo Therapeutics
Seller:                          None
M&A Database:          https://mena.nl/deal/10171

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Involved firms and advisors target:
Legal Advisory: NautaDutilh

Involved firms and advisors buy side:
Legal Advisory: deBreij

Pitch

Brief description deal / Deal outline:
Confo Therapeutics, an emerging drug discovery company, announced 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.

Deal rationale:
The funds will be used to accelerate the Company’s drug discovery activities and to develop its pipeline of G-protein coupled receptors (GPCR) modulating compounds to produce drug candidates for clinical trials. 

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. 
 
What is the impact of this deal for the company?
The strong interest of the investors will enable the company to move up to the next level.

What is the impact of this deal on the society?
GPCRs are attractive drug targets in the treatment of many different conditions, playing an essential part in numerous life processes and influencing diseases. However many have yet to be drugged successfully due to challenges in dissecting their complicated downstream pharmacology, or the inability to identify suitable compounds. Confo’s suite of highly sensitive ConfoBody-based screening methods (ConfoScreenTM) enables the identification of novel chemical starting points, and the determination of 3D structures (ConfoStructureTM), allowing for the rational design of new medicines with optimal properties. To the benefit of society.

Why does this deal deserve a nomination?
The size of the current round and the quality of the investors, existing and new, underline the potential of Confo Therapeutics.

Comments Panel of Judges
Although Confo Therapeutics was able to raise money earlier, the Panel of Judges was impressed by the size of this investment and the quality of the investors. The investment not only gives Confo the opportunity to fund its ongoing R&D, but also gives it the opportunity to develop as a platform.