Avalyn Pharma, a Seattle-based biopharma company, raised $175 million in a recent Series C funding round. Avalyn will use the funds to support the development of its main drug, AP01, which is used to treat pulmonary fibrosis. The company, operating with 17 employees, was founded shortly before it received its first round of funding in 2017. It specializes in developing lung disease treatments and is currently developing a second pulmonary fibrosis drug that recently completed an initial study. “Only a handful of interstitial lung diseases have anything approved for them,” said Lyn Baranowski, CEO of Avalyn. “This idea that we have here in the company about taking drugs that we know work and actually now targeting them for lung disease with inhalation, to me that’s what I would love to also spend more time on going forward, to build a pipeline beyond just these products.”