Pliant Therapeutics Raises $100 Million in Series C Financing to Advance Therapies for Fibrotic Diseases
March 3, 2020
SOUTH SAN FRANCISCO, Calif., March 3, 2020 /PRNewswire/ — Pliant Therapeutics, Inc., a clinical stage biopharmaceutical company focused on discovering and developing novel therapies for the treatment of fibrosis, today announced that it has raised $100 million in a Series C financing. Pliant plans to use the proceeds from the financing to support the continued clinical development of PLN-74809 in idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC), as well as its ongoing drug discovery programs targeting other fibrotic diseases.
Novartis led the financing, with Redmile Group, Farallon Capital Management, Cormorant Asset Management, Surveyor Capital (a Citadel company) and Logos Capital joining the round as new investors. Existing investors participating in the financing included Eventide Asset Management, Cowen Healthcare Investments, Schroder Adveq, Menlo Ventures, SCubed Capital, Agent Capital and undisclosed institutional investors.
Full press release can be found here.