Avalyn Pharma
Summary ipo Updated Apr 30, 2026This profile is AI-generated. If you spot an error, please help us fix it by sharing a URL to the correct information.
About
Avalyn Pharma is a clinical-stage biopharmaceutical company developing inhaled formulations of approved antifibrotic therapies for hard-to-treat lung diseases 12. The company’s lead candidates are AP01, an inhaled formulation of pirfenidone in the global Phase 2b MIST trial for progressive pulmonary fibrosis, and AP02, an inhaled formulation of nintedanib in the global Phase 2 AURA trial for idiopathic pulmonary fibrosis 1. The inhaled approach is designed to deliver approved antifibrotic drugs directly to the lungs to improve local drug exposure while reducing systemic side effects 1. Prior to the IPO, Avalyn had raised approximately $370 million across four venture rounds; the company was previously known as Genoa Therapeutics 3.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-04-29 | IPO | $300M | — | Morgan Stanley, Jefferies, Evercore ISI, Guggenheim Securities (underwriters) 2 |
The IPO priced 16,666,667 shares at $18.00 per share, the high end of the $16-$18 range, with shares trading on the Nasdaq Global Select Market under the ticker “AVLN”; the offering was expected to close on May 1, 2026 2. Pre-IPO investors disclosed in coverage included Novo Holdings (largest backer at ~13% pre-offering, ~8% post-offering), SR One, F-Prime Capital, Perceptive Xontogeny Venture Funds, Norwest Venture Partners, Eventide Asset Management, Wellington Management, Vida Ventures, and Suvretta Capital Management 13. The prior $100M round in July (year not specified in coverage reviewed) was co-led by Suvretta Capital Management and SR One 1.
What Investors Say
No independently sourced investor quotes found at this time.
What Founders Say
No independently sourced founder quotes found at this time.
Sources
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BioPharma Dive, “Avalyn, in pursuit of better lung drugs, banks $300M in an IPO,” April 30, 2026. https://www.biopharmadive.com/news/avalyn-biotech-ipo-price-pulmonary-fibrosis-esbriet-ofev/818851/↩↩↩↩↩
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GlobeNewswire, “Avalyn Announces Pricing of Upsized Initial Public Offering,” April 30, 2026. https://www.globenewswire.com/news-release/2026/04/30/3284397/0/en/Avalyn-Announces-Pricing-of-Upsized-Initial-Public-Offering.html↩↩↩
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BioPharma Dive, “Chasing a tough-to-treat lung disease, Avalyn plans an IPO,” accessed April 2026. https://www.biopharmadive.com/news/avalyn-pharma-ipo-idiopathic-pulmonary-fibrosis/817072/↩↩