Avalyn Pharma announced that an oversubscribed Series C financing brought in $175 million that the company will use for continued development of AP01 inhaled pirfenidone and AP02 inhaled nintedanib for the treatment of pulmonary fibrosis. Earlier this year, the company reported data from a Phase 1b trial of nebulized AP01 in patients with idiopathic pulmonary fibrosis (IPF). Avalyn now says that it plans to advance AP01 into a Phase 2b trial and AP02 into a Phase 2b trial.
Avalyn CEO Lyn Baranowski commented, “Pulmonary fibrosis is a fatal disease with a median survival of only 3-5 years. Fewer than 30% of patients in the US are treated with either of the two approved oral medicines today due to their significant tolerability challenges. There is an urgent need for effective treatments that patients can tolerate, which we believe can be addressed with inhaled delivery. In fact, our existing clinical data shows potential for both improved tolerability and efficacy. We are thrilled to have the support of such an esteemed group of investors to help realize our mission and impact patients’ lives.”
Read the Avalyn Pharma press release.
