Pliant Therapeutics, Inc., a South San Francisco, CA-based biotechnology company targeting the key biological pathways driving fibrosis, raised $62m in Series B financing.
The round was led by Cowen Healthcare Investments, with participation from new investors Eventide Asset Management, Schroder Adveq, Menlo Ventures, SCubed Capital, Agent Capital and undisclosed institutional investors. Concurrent with the financing, Kevin Raidy, managing partner of Cowen Healthcare Investments, has joined the Pliant board of directors.
The company intends to use the funds for the initiation and proof-of-concept clinical trials in idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC), as well as ongoing drug discovery programs targeting other fibrotic diseases.
Launched in 2016 and led by Bernard Coulie, M.D., Ph.D., president and chief executive officer, Pliant Therapeutics leverages its product discovery engine to halt fibrosis progression and reverse disease, and to restore organ function.
The company’s therapeutic approach focuses on fibrotic tissue-specific inhibition of integrins and the TGF-β pathway. Its lead small molecule is a dual selective inhibitor of the αVβ1 and αVβ6 integrins that will be evaluated in patients with IPF and PSC.