# Avalyn Pharma

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/avalyn-pharma

- Industry: Biotechnology
- Headquarters: Cambridge, US
- Website: www.avalynpharma.com
- Total disclosed funding: $387M
- Latest round: Series D (Jul 22, 2025)
- Investors on record: 19

## About

Avalyn Pharma Inc. is focused on developing innovative inhaled therapies aimed at treating rare respiratory diseases, specifically targeting pulmonary fibrosis and interstitial lung diseases.Avalyn Pharma Inc. was founded in 2011 and is headquartered in Seattle, US. The company specializes in developing targeted therapies for rare respiratory conditions. In July 2025, Avalyn Pharma Inc. raised USD 100 million in series D funding from unspecified investors. Avalyn Pharma Inc. develops targeted inhaled therapies for rare respiratory diseases, concentrating on pulmonary fibrosis and interstitial lung diseases. Its core products include AP01, an inhaled formulation of pirfenidone, and AP02, an inhaled version of nintedanib. Additionally, the company is working on a preclinical program, AP03, which combines both inhaled pirfenidone and nintedanib in a fixed-dose formulation, aiming to deliver effective treatment directly to lung tissue.Avalyn Pharma Inc. generates revenue through partnerships with healthcare providers, focusing on the sale of its inhaled drug products. The company enters agreements with hospitals and specialized clinics for the administration of its inhaled therapies for pulmonary fibrosis, often including provisions for bulk purchases or exclusive supply contracts. Its flagship products, AP01 and AP02, form the foundation of its revenue model, with pricing aligned to therapeutic value and clinical outcomes. The company will use the July 2025 funding for further development of its inhaled treatment for pulmonary fibrosis.

## Funding rounds

- Series D, Jul 22, 2025, $100M — T Rowe Price, Norwest Venture Partners, RiverVest Ventures Partners, SR One, Novo Holdings, F-Prime Capital, Wellington Management, TPG Biotech, Piper Sandler, Rock Springs Capital, Perceptive Advisors, Eventide Asset Management, Pivotal Life Sciences, Vida Ventures, Surveyor Capital, Catalio Capital Management, Suvretta Capital Management
- Series C, Sep 22, 2023, $189M — Norwest Venture Partners, RiverVest Ventures Partners, SR One, Novo Holdings, F-Prime Capital, Wellington Management, Rock Springs Capital, Perceptive Advisors, Eventide Asset Management, Pivotal Life Sciences, Vida Ventures, Surveyor Capital, Catalio Capital Management, Piper Heartland Healthcare Capital
- Series B, Apr 24, 2020, $36M — Norwest Venture Partners, RiverVest Ventures Partners, Novo Holdings, F-Prime Capital, TPG Biotech, Pivotal Life Sciences
- Series A, May 15, 2017, $62M — Andera Partners, RiverVest Ventures Partners, Novo Holdings, F-Prime Capital, TPG Biotech

## Investors

- Andera Partners (https://capitalatlas.ai/funds/andera-partners) — Series A
- RiverVest Ventures Partners (https://capitalatlas.ai/funds/rivervest-ventures-partners) — Series A, Series B, Series C, Series D
- Novo Holdings — Series A, Series B, Series C, Series D
- F-Prime Capital (https://capitalatlas.ai/funds/f-prime-capital) — Series A, Series B, Series C, Series D
- TPG Biotech (https://capitalatlas.ai/funds/tpg-biotech) — Series A, Series B, Series D
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series B, Series C, Series D
- Pivotal Life Sciences (https://capitalatlas.ai/funds/pivotal-life-sciences) — Series B, Series C, Series D
- SR One (https://capitalatlas.ai/funds/sr-one) — Series C, Series D
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series C, Series D
- Rock Springs Capital — Series C, Series D
- Perceptive Advisors (https://capitalatlas.ai/funds/perceptive-advisors) — Series C, Series D
- Eventide Asset Management (https://capitalatlas.ai/funds/eventide-asset-management) — Series C, Series D
- Vida Ventures (https://capitalatlas.ai/funds/vida-ventures) — Series C, Series D
- Surveyor Capital — Series C, Series D
- Catalio Capital Management (https://capitalatlas.ai/funds/catalio-capital-management) — Series C, Series D
- Piper Heartland Healthcare Capital — Series C
- T Rowe Price (https://capitalatlas.ai/funds/t-rowe-price) — Series D
- Piper Sandler (https://capitalatlas.ai/funds/piper-sandler) — Series D
- Suvretta Capital Management — Series D