Avalyn Pharma announced that it has closed a $100 million Series D financing, with proceeds intended to support continued development of its inhaled drugs for the treatment of pulmonary fibrosis, including AP01 pirfenidone, AP02 nintedanib, and AP03 pirfenidone / nintedanib. In 2023, the company announced the closing of a Series C financing that raised $175 million for development of the formulations, which are delivered via PARI‘s eFlow nebulizer.
AP01 is currently in a Phase 2b trial and, earlier this year, Avalyn said that it would advance AP02 into a Phase 2 trial in patients with idiopathic pulmonary fibrosis (IPF). The company says that it is conducting IND-enabling studies for AP03 and expects to advance the pirfenidone / nintedanib combination into Phase 1.
Avalyn CEO Lyn Baranowski commented, “Completing a significant round of financing despite the challenging market conditions is a testament to our innovative approach to developing potentially life-saving medicines for patients with pulmonary fibrosis. We’ve made tremendous progress across our entire portfolio, completing Phase 1 clinical trials of AP02 and initiating a global Phase 2b clinical trial of AP01. With the support from an esteemed group of investors, we will continue the expeditious advancement of our clinical programs, while also bringing our third program into the clinic, all of which positions Avalyn for an exciting future of growth.”
Read the Avalyn Pharma press release
