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Avalyn Pharma aims to improve treatment of Idiopathic pulmonary fibrosis with inhalable versions of two older oral drugs and it’s now headed for mid-stage testing backed by a Series C financing. Other recent biotech industry financings raised money for research in cancer, immunology, and rare genetic diseases.
Cancer continues to be a hot area of investment, and it’s the therapeutic focus of several biotech companies that have closed recent rounds of financing. Meanwhile, the investment arm of a big pharmaceutical company has an infusion of new cash to deploy in therapeutic and digital investments.
In less than one year, ReCode Therapeutics has reeled in $200 million in financing. Big pharmaceutical companies are taking notice of the biotech startup’s technology, which enables lipid nanoparticles to go a wide range of organs and tissues, potentially broadening the reach of genetic medicines.