Pliant Therapeutics launched a public offering of its common stock on Monday, with a total of $175 million up for grabs. The proceeds from the offering will be used to fund Pliant’s clinical and preclinical programs, marking an exciting step forward in their development.
Pliant recently released promising interim findings from the Phase IIa INTEGRIS-IPF trial, showcasing that its investigational therapeutic bexotegrast for idiopathic pulmonary fibrosis (IPF) was generally tolerable and had a favorable pharmacokinetic profile even when given at the highest dose of 320 mg. Following these encouraging results, Pliant is now offering a public offering.
At the 320 mg. dose, our clinical trials revealed that bexotegrast was highly effective in improving forced vital capacity, as well as reducing profibrotic biomarkers and Quantitative Lung Fibrosis imaging findings. What’s more, no severe drug-related adverse events were observed, with all side effects remaining mild or moderate in severity.
Bernard Coulie, M.D., Ph.D., President and CEO of Pliant, was thrilled by the data from the 320 mg arm of INTEGRIS-IPF, which exceeded his expectations. In July 2022, Pliant further released data from the same study, showing that lower doses of bexotegrast, ranging from 40 to 160 mg, were well-tolerated. “These results are truly revolutionary in IPF clinical drug development,” Coulie said with enthusiasm.
Eric Lefebvre, M.D., Pliant’s chief medical officer, announced Monday that patients in the 320 mg. arm of INTEGIRS-IPF will continue treatment with bexotegrast for a minimum of 24 weeks. Final data from this trial is expected to come in during the second quarter of 2021, and the company hopes to launch a Phase IIb trial of bexotegrast for mid-year.
Funding a Promising Pipeline and a Powerful Platform
On Monday, bextegrast will take a major step forward with the help of proceeds from its public offering. This promising trial candidate is being evaluated for primary sclerosing cholangitis, with results expected before the end of the year. It’s an exciting time for those involved in this cutting-edge clinical research!
In addition to its IPF hopeful, Pliant is investing in PLN-101095, an innovative investigational selective inhibitor of αvβ8/αvβ1 integrin with dual mode of action. This pharmaceutical candidate targets both the T cells, with its αvβ8, and the fibroblasts, with its αvβ1, in order to potentially treat solid tumors.
Pliant recently submitted an Investigational New Drug application for PLN-101095, paving the way for a first-in-human trial in the second quarter of this year. This trial will explore the potential of combining PLN-101095’s αvβ8 action with PD-(L)1 therapeutics, for which there is solid evidence backing the efficacy of this combination.
Pliant’s public offering is set to bolster their integrin targeting platform, which boasts an impressive library of over 10,000 annotated molecules and tools that can pinpoint drivers of fibrotic diseases. This platform includes an expression atlas, screening assay platform, ligand imaging program, and biomarker assays – giving researchers unprecedented access to information and insight about the condition.
The proceeds from this public offering will go towards supporting and strengthening our operations, covering our operating expenses, making capital investments, and taking care of other general corporate needs. We are confident that this offering will help us to further our mission and continue to grow our business.