Avalyn picks up $175 million in Series C financing

28 September 2023

Seattle, USA-based clinical-stage biopharma Avalyn Pharmaceuticals has announced the closing of an oversubscribed $175 million Series C financing.

Avalyn says it plans to use the funds to continue development of its portfolio of inhalation therapies for interstitial lung disease that improve upon currently approved medications, and advance lead clinical assets, AP01 (inhaled pirfenidone) and AP02 (inhaled nintedanib), into mid-stage clinical trials.

The Series C financing was co-led by Perceptive Xontogeny Venture Funds, SR One, and Eventide Asset Management, which were joined by several new investors.

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