Pliant Therapeutics Appoints Steve Krognes to Board

Pliant Therapeutics, Inc., a prominent biotechnology firm specializing in treatments for fibrotic diseases, has announced a significant addition to its Board of Directors. Steve Krognes, a seasoned executive with over three decades of experience in financial and corporate strategy within the life sciences sector, has been appointed to the board. Steve Krognes' extensive background includes roles such as Chief Financial Officer at Denali Therapeutics, where he played a pivotal role in enhancing the company's financial stability and growth until his retirement in 2022. His prior positions include serving as Chief Financial Officer at Genentech, where he oversaw key integrations with Roche Holding AG and InterMune, and as Global Head of Mergers and Acquisitions at Roche. Early in his career, Krognes worked in investment banking at Goldman Sachs, management consulting at McKinsey & Company, and as a venture capitalist in Scandinavia.

Bernard Coulie, M.D., Ph.D., President and CEO of Pliant, expressed his enthusiasm for Krognes' appointment, stating that his financial acumen and strategic leadership would greatly benefit Pliant’s ongoing development as a late-stage clinical company. Krognes also holds board positions at Denali Therapeutics, Guardant Health, argenx, and ClavystBio. He earned an M.B.A. from Harvard Business School and a B.S. in Economics from the Wharton School of the University of Pennsylvania.

Pliant Therapeutics is dedicated to the discovery and development of innovative treatments for fibrotic diseases. The company’s leading product candidate, bexotegrast (PLN-74809), is an oral, small molecule dual-selective inhibitor targeting αvß6 and αvß1 integrins. It is currently being developed for the treatment of idiopathic pulmonary fibrosis (IPF) and primary sclerosing cholangitis (PSC). Bexotegrast has received Fast Track Designation and Orphan Drug Designation from the U.S. Food and Drug Administration (FDA) for both IPF and PSC, and Orphan Drug Designation from the European Medicines Agency for these conditions. Pliant has initiated BEACON-IPF, a Phase 2b/3 trial of bexotegrast in IPF.

Additionally, Pliant is conducting a Phase 1 study for PLN-101095, another small molecule dual-selective inhibitor targeting αvß8 and αvß1 integrins, which is being developed for the treatment of solid tumors. The company has also received regulatory approval for a Phase 1 study of PLN-101325, a monoclonal antibody agonist targeting integrin α7β1 for the treatment of muscular dystrophies.

Pliant Therapeutics remains focused on advancing its pipeline of potential therapies aimed at addressing unmet medical needs in fibrotic diseases. The company recognizes the inherent risks and uncertainties in drug development, including potential delays in clinical trials, reliance on third parties, and the need for additional financing. Despite these challenges, Pliant is committed to progressing its clinical programs and exploring new treatment possibilities.

As the company moves forward, it continues to monitor and adapt to macroeconomic and market conditions, including the potential impacts of health crises such as COVID-19. Pliant remains dedicated to maintaining intellectual property protection for its product candidates and ensuring accurate estimation of expenses and development timelines.

Steve Krognes' addition to the Board of Directors is a strategic move aimed at leveraging his financial expertise to support Pliant’s ambitious goals in the biopharmaceutical sector. With a robust pipeline and a strong leadership team, Pliant Therapeutics is poised to make significant advancements in the treatment of fibrotic diseases.