The $30-per-share offer is due to close on Friday, and will help fund pivotal trials of integrin inhibitor bexotegrast (PLN-74809) and a follow-up drug PLN-101095 that is being developed for solid tumours.
Pliant’s offering comes on the heels of interim results from its phase 2a INTEGRIS-IPF trial of bexotegrast in idiopathic pulmonary fibrosis (IPF), which showed evidence of a positive effect on lung function over a 12-week follow-up period.
Bexotegrast is a dual-selective inhibitor of αvβ6 and αvβ1 integrins, known to present at elevated levels in the pulmonary tissues of IPF patients and thought to promote the activation of growth factor TGF-β and fibrosis progression.
