Avalyn Pharma Raises $100M to Advance Inhaled Lung Disease Drugs

Avalyn Pharma secured a $100 million Series D funding round led by Suvretta Capital Management, SR One, and Novo Holdings, among others.12

The funding will support development of inhaled versions of approved drugs for treating pulmonary fibrosis, specifically pirfenidone (AP01) and nintedanib (AP02).12

AP01 is currently in a global Phase IIb trial for idiopathic pulmonary fibrosis, with results expected in April next year; AP02 showed promising Phase I safety/tolerability data presented in May 2025.12

Avalyn's inhaled approach aims to reduce the significant side effects associated with existing oral versions of these drugs.2

CEO Lyn Baranowski noted that only about 30% of the estimated 300,000 U.S. pulmonary fibrosis patients use current oral treatments due to side-effect severity, despite the high mortality associated with the disease.2

The oversubscribed round included investments from major healthcare funds and brings new board representation from Suvretta.12

Sources:

1. https://www.fiercebiotech.com/biotech/fierce-biotech-fundraising-tracker-25

2. https://www.biospace.com/business/avalyn-pharma-adds-100m-series-d-for-inhaled-pulmonary-fibrosis-drugs