Pliant to advance rare fibrosis pipeline with Novartis-led $100M C round

A $100 million series C round led by Novartis and backed by multiple crossover investors gives Third Rock-founded Pliant ample cash to push forward with multiple fibrosis programs.

The cash bolus comes less than half a year after Pliant Therapeutics Inc. out-licensed its preclinical non-alcoholic steatohepatitis (NASH) program and up to three additional compounds to Novartis AG (NYSE:NVS; SIX:NOVN) to focus internally on lead program PLN-74809 and its preclinical fibrosis pipeline. Under the October deal, Novartis paid $80 million in a combined upfront payment and equity investment, and Pliant is eligible for milestones and mid-single to low-double digital royalties (see "Pliant to Flesh Out Fibrosis Pipeline After NASH Deal"). ...