Avalyn Receives $100 Million in Series D Financing to Advance Pulmonary Fibrosis Treatments

Avalyn Pharma Inc. has successfully raised $100 million in an oversubscribed Series D financing round. This financial milestone was achieved with advisory support from Goodwin Procter LLP and co-led by investment firms Suvretta Capital Management and SR One. Additional participation came from a diverse array of investors, including Novo Holdings A/S, F-Prime, and others. The newly acquired funds will be directed towards advancing Avalyn's pipeline of therapies for pulmonary fibrosis. These therapies aim to reduce systemic exposure and deliver medication directly to the affected lung tissues through innovative inhaled formulations of existing medications, specifically, pirfenidone and nintedanib. Avalyn’s pioneering approach is designed to improve efficacy and safety, addressing a significant need in the treatment of pulmonary fibrosis, which is marked by the progressive scarring of lung tissue. The Series D financing marks a significant step in bringing these inhaled formulations to patients, with key clinical trials underway or planned. Goodwin Procter's team, led by Stephanie Richards and others, played a crucial role in facilitating this financing round.