Ava­lyn rais­es $175M to test in­haler ver­sions of IPF med­i­cines in PhII tri­als

Ava­lyn Phar­ma an­nounced Wednes­day that it closed a $175 mil­lion Se­ries C round, which it plans to put to­ward two Phase II stud­ies of in­haled ver­sions of id­io­path­ic pul­monary fi­bro­sis drugs.

Ava­lyn wants to test an in­haled ver­sion of pir­fenidone in a Phase IIb study. The pill is mar­ket­ed as Es­bri­et by Roche, though it lost patent ex­clu­siv­i­ty last year. Roche went to court in an at­tempt to keep gener­ics from en­ter­ing the mar­ket but did not suc­ceed, and in May of last year, San­doz launched a gener­ic ver­sion of the drug. Roche earned over $1 bil­lion from Es­bri­et in 2021, but sales have fall­en sub­stan­tial­ly from the new com­pe­ti­tion. In its sec­ond-quar­ter re­port in Ju­ly, Roche said Es­bri­et sales had fall­en 78% com­pared to last year.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.