The Life Sciences team guided Avalyn Pharma Inc. (“Avalyn”) on the closing of its upsized initial public offering at an approximate value of $345 million. Avalyn sold 19,166,667 shares of its common stock at an initial public offering price of $18.00 per share, which includes 2,500,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock in the offering. Avalyn’s common stock is listed on the Nasdaq Global Select Market under the ticker symbol “AVLN.”
Avalyn aims to transform the treatment paradigm for pulmonary fibrosis and other serious, rare respiratory diseases. The company is advancing optimized inhaled formulations of established antifibrotic medicines designed to deliver drug directly to the lungs, enhance local efficacy, and reduce systemic side effects. By leveraging its proprietary drug-device approach and deep expertise in rare respiratory disease development, Avalyn aims to establish a new standard of care in pulmonary fibrosis through inhaled, lung-targeted therapies.
The Goodwin team was led by Stephanie Richards, Mitchell Bloom, Kristen McCarthy, Haylee Brown, Grace Kim, Angela Kim and Hayden Hunt; and included Julie Tibbets, Krupa Zachariah, Matthew Wetzel, Sarah Bock, Rahat Tariq, Catherine McCarty, Olivia Uitto, Jennifer Fay, Shannyn Henke, Robert Kester, Devan Greevy, Jacqueline Klosek, Tim Worden, Oliver Samuel Walker, Lucy Sharples, Caroline Bullerjahn, Jennifer Luz Burns, Adam Slutsky, Brian Mukherjee, Amy Koss, Laura Noerdlinger, Maggie Wong, with invaluable assistance from Nathan Needle, Annie Kubanoff, Christina Keeney, and Michael Witten.
For more information on the deal, please read the press release.