Novo-Backed Drugmaker Avalyn Raises $300 Million in Upsized IPO

Avalyn Pharma Inc., a biopharma company developing inhaled treatments for rare lung diseases, raised $300 million in a US initial public offering that priced at the top of its marketed range.

The Boston-based company sold 16.7 million shares at $18 each, according to a statementBloomberg Terminal Wednesday. The firm had offered shares for $16 to $18 each, its filings showed.