Avalon BioVentures led a $21m Series A funding round in AeroRx Therapeutics.

Avalon BioVentures, a venture capital firm investing in biotech companies, led a $21m Series A funding round in AeroRx Therapeutics, a clinical-stage biopharmaceutical company developing nebulized therapies for chronic respiratory diseases, with participation from Correlation Ventures and Alexandria Venture Investments. “With this Series A financing, we are well positioned to advance AERO-007 into a Phase 2b dose-optimization study and prepare for late-stage, NDA-enabling development. Our Phase 2a study data further support AERO-007’s potential as a once-daily nebulized LABA/LAMA combination, designed to address a major unmet need for underserved COPD patients,” Ahmet Tutuncu, AeroRx Therapeutics Co-Founder and CEO.