Monetary loan

Pliant Therapeutics completes $100 million loan facility

Up to $100 million in non-dilutive capital from Oxford Finance LLC

Extends expected cash trail to mid-2024

SOUTH SAN FRANCISCO, Calif., May 05, 2022 (GLOBE NEWSWIRE) — Pliant Therapeutics, Inc. (Nasdaq: PLRX), a clinical-stage biotechnology company focused on the discovery and development of novel therapies for the treatment of fibrosis, announced today that it has entered into a loan facility agreement with Oxford Finance LLC for non-dilutive financing of up to $100 million. This facility will support the continued clinical development of PLN-74809, an oral small molecule, dual selective α inhibitorvß6 and αvß1 integrins, in the main indications of idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC).

“This non-dilutive facility strengthens our financial position, balances our near-term capital needs, and supports the advancement of our pipeline through several near-term clinical milestones,” said Keith Cummings, MD, MBA, chief financial officer of Pliant Therapeutics. , Inc. “With our cash runway now extended through mid-2024, we are focused on delivering highly anticipated data readouts from our INTEGRIS-IPF and INTEGRIS-PSC Phase 2a trials.”

Under the terms of the loan agreement, Pliant withdrew $10 million of an initial tranche of $25 million at closing, with the remaining $15 million available until the end of the year. The Company has access to an additional $75 million in three tranches, of which $50 million is based on pre-determined milestones and $25 million at Oxford’s discretion. The loan has an interest-only period of 48 months (extendable to 60 months) and a total term of 60 months (extendable to 72 months). Interest is based on a variable rate subject to both a floor and a ceiling. There are no warrants or financial commitments in the agreement.

As of December 31, 2021, the Company had cash, cash equivalents and short-term investments of $200.6 million. With the initial drawdown of $10.0 million at closing, the Company had at December 31, 2021 pro forma cash, cash equivalents and short-term investments of $210.6 million. With this facility in place, Pliant expects to be able to fund its operations until mid-2024.

About Pliant Therapeutics, Inc.

Pliant Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies for the treatment of fibrosis. Pliant’s lead product candidate, PLN-74809, is an oral small molecule dual-selective α-inhibitorvß6 and αvß1 integrins which is in development in the main indications for the treatment of idiopathic pulmonary fibrosis, or IPF, and primary sclerosing cholangitis, or PSC. PLN-74809 has received orphan drug designation from the United States Food and Drug Administration (FDA) for IPF and PSC. Pliant is currently conducting Phase 2a trials of PLN-74809 in the primary indications of IPF and PSC. Pliant has also developed PLN-1474, a small molecule selective inhibitor of αvß1 for the treatment of non-alcoholic steatohepatitis, or NASH with liver fibrosis, which Pliant transferred to Novartis as part of our development partnership. In addition to clinical-stage programs, Pliant currently has two pre-clinical programs targeting oncology and muscular dystrophies. For more information about Pliant Therapeutics, visit and follow us on Twitter, LinkedIn, Facebook and YouTube.

About Oxford Finance LLC

Oxford Finance is a specialist finance company that provides senior secured loans to public and private life sciences and healthcare companies worldwide. For over 20 years, Oxford has provided flexible financing solutions to its clients, enabling these businesses to maximize their equity by leveraging their assets. Since 2002, Oxford has issued around $9 billion in loans. Oxford is headquartered in Alexandria, Virginia, with additional offices in California (San Diego, Palo Alto, and Los Angeles) and the major metropolitan areas of Boston and New York. For more information, visit

Forward-looking statements

Statements in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may”, “should”, ” expects”, “anticipates”, “estimates”, “intends” and similar expressions (as well as other words or expressions referring to future events, conditions or circumstances) are intended to identify statements prospective. These statements include those regarding the adequacy of our cash, cash equivalents and short-term investments; our anticipated cash trail; and anticipated progress of our clinical trials and preclinical programs, including expected timelines for regulatory filings. Because these statements address future events and are based on our current expectations, they are subject to various risks and uncertainties and the actual results, performance or achievements of Pliant Therapeutics could differ materially from those described or implied by the statements. of this press release. These forward-looking statements are subject to risks and uncertainties, including those related to the development and commercialization of our product candidates, including any delays in our ongoing or planned preclinical or clinical trials, the impact of the COVID- 19 on our business, operations, supply and clinical plans, our reliance on third parties for critical aspects of our development operations, risks inherent in the drug development process, risks regarding the the accuracy of our development expenditure and schedule estimates, our capital requirements and the need for additional financing and our ability to obtain and maintain intellectual property protection for our product candidates. These and other risks are discussed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10-K filed for the exercice clos le 31 décembre 2021 auprès de la SEC le 1er mars 2022[telquemisàjourparnosdépôtsultérieursauprèsdelaSECquisontdisponiblessurlesiteWebdelaSECàl’adressewwwsecgovSaufindicationcontrairePliantfournitcesinformationsàladatedececommuniquédepresseetn’assumeaucuneobligationdemettreàjourlesdéclarationsprospectivescontenuesdanscedocumentàlasuitedenouvellesinformationsd’événementsfutursouautres[asupdatedbyoursubsequentfilingswiththeSECwhichareavailableontheSEC’swebsiteatwwwsecgovUnlessotherwisenotedPliantisprovidingthisinformationasofthedateofthisnewsreleaseanddoesnotundertakeanyobligationtoupdateanyforward-lookingstatementscontainedinthisdocumentasaresultofnewinformationfutureeventsorotherwise[telquemisàjourparnosdépôtsultérieursauprèsdelaSECquisontdisponiblessurlesiteWebdelaSECàl’adressewwwsecgovSaufindicationcontrairePliantfournitcesinformationsàladatedececommuniquédepresseetn’assumeaucuneobligationdemettreàjourlesdéclarationsprospectivescontenuesdanscedocumentàlasuitedenouvellesinformationsd’événementsfutursouautres[asupdatedbyoursubsequentfilingswiththe SECwhichareavailableonthe SEC’s websiteat wwwsecgovUnlessotherwisenotedPliantisprovidingthisinformationasofthedateofthisnewsreleaseanddoesnotundertakeanyobligationtoupdateanyforward-lookingstatementscontainedinthisdocumentasaresultofnewinformationfutureeventsorotherwise

Investor and media contact:
Christopher Keenan
Vice President, Investor Relations and Corporate Communications
Folding Therapeutics, Inc.
[email protected]