Biotechnology companies and investors are showing increased interest in lung diseases, with idiopathic pulmonary fibrosis (IPF) drawing particular attention, according to a May 5 statement. IPF is a chronic and progressive lung disease that causes irreversible scarring of lung tissue, making breathing difficult.
Several biotechnology firms focused on IPF or lung fibrosis have recently raised significant capital. Avalyn Pharma secured $100 million in Series D funding, while major pharmaceutical companies such as Bristol Myers Squibb have also entered the field. The growing interest follows earlier reports from BioSpace about investors highlighting IPF as a key area due to new treatment approaches and patent expirations driving innovation.
The global market for IPF treatments generated nearly $3 billion in 2025 and is projected to reach almost $7 billion by 2035. Currently approved therapies in the United States and Europe include Boehringer Ingelheim’s Ofev (nintedanib) and Legacy Pharma’s Esbriet (pirfenidone). Boehringer’s Jascayd (nerandomilast), approved in the U.S. in October 2025, has not yet received approval in Europe.
Jonas Hallén, co-founder and chief medical officer of Calluna Pharma, said: “All approved therapies slow disease progression by about 50% annually but don’t arrest disease progress.” He added that patients continue to worsen over time as their lungs stiffen, which makes everyday activities increasingly difficult. Hallén emphasized the importance of halting disease progression rather than simply slowing it.
Georg Vo Beiske, CEO of Tribune Therapeutics, agreed with Hallén that current treatments do not address the underlying drivers of IPF. Both Calluna Pharma and Tribune Therapeutics are developing new therapies targeting novel mechanisms involved in scar tissue formation or profibrotic pathways associated with IPF. Calluna recently completed enrollment for its Phase II AURORA study evaluating CAL101; Tribune is advancing preclinical programs focused on interrupting signaling by CCN protein family members.
Tolerability remains an issue for existing standard-of-care treatments; many patients discontinue therapy due to gastrointestinal side effects. Beiske said: “Whoever is able to bring forward the first therapy that will be able to stop fibrosis and have a tolerable profile will be a huge winner for patients.” Both executives agreed that targeted combination therapies with improved efficacy and fewer side effects represent the future direction for treating IPF.
Hallén and Beiske also described IPF as an excellent gateway indication for developing antifibrotic drugs applicable across multiple organ systems affected by fibrotic diseases—including kidney or liver conditions—due to common biological mechanisms underlying tissue scarring.
