<SEC-DOCUMENT>0002149521-26-000002.txt : 20260811
<SEC-HEADER>0002149521-26-000002.hdr.sgml : 20260811
<ACCEPTANCE-DATETIME>20260811170328
ACCESSION NUMBER:		0002149521-26-000002
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20260811
DATE AS OF CHANGE:		20260811

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Avalyn Pharma Inc.
		CENTRAL INDEX KEY:			0001540171
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				452463191
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-95651
		FILM NUMBER:		261264259

	BUSINESS ADDRESS:	
		STREET 1:		105 W FIRST ST.
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02127
		BUSINESS PHONE:		(206) 707-0340

	MAIL ADDRESS:	
		STREET 1:		105 W FIRST ST.
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Genoa Pharmaceuticals, Inc.
		DATE OF NAME CHANGE:	20120120

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Norwest Venture Partners XV, LP
		CENTRAL INDEX KEY:			0002149521
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		C/O NORWEST VENTURE PARTNERS
		STREET 2:		1300 EL CAMINO REAL, SUITE 200
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		6503218000

	MAIL ADDRESS:	
		STREET 1:		C/O NORWEST VENTURE PARTNERS
		STREET 2:		1300 EL CAMINO REAL, SUITE 200
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G</submissionType>
	    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0002149521</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>





    </filerInfo>
  </headerData>

  <formData>
    <coverPageHeader>
	      <securitiesClassTitle>Voting Common Stock, $0.001 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001540171</issuerCik>        <issuerName>Avalyn Pharma Inc. </issuerName>

    <issuerCusips>
					<issuerCusipNumber>05348Y105</issuerCusipNumber>
				</issuerCusips>

        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>105 W First Street</com:street1>
                    <com:city>Boston</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02127</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>

	        <designateRulesPursuantThisScheduleFiled>
	           <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
						      </designateRulesPursuantThisScheduleFiled>

    </coverPageHeader>

	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Norwest Venture Partners XV, LP</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>2268404.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>2268404.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2268404.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>5.1</classPercent>





	        <typeOfReportingPerson>PN</typeOfReportingPerson>









    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Genesis VC Partners XV, LLC</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>2268404.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>2268404.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2268404.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>5.1</classPercent>











	        <typeOfReportingPerson>OO</typeOfReportingPerson>



    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>NVP Associates, LLC </reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>2268404.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>2268404.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2268404.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>5.1</classPercent>











	        <typeOfReportingPerson>OO</typeOfReportingPerson>



    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Jeffrey Crowe</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>X1</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>2268404.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>2268404.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2268404.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>5.1</classPercent>










	        <typeOfReportingPerson>IN</typeOfReportingPerson>




    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Jon Erik Kossow</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>X1</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>2268404.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>2268404.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2268404.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>5.1</classPercent>










	        <typeOfReportingPerson>IN</typeOfReportingPerson>




    </coverPageHeaderReportingPersonDetails>

    <items>
      <item1>
        <issuerName>Avalyn Pharma Inc. </issuerName>
        <issuerPrincipalExecutiveOfficeAddress>105 W First Street, Boston, MA, 02127.</issuerPrincipalExecutiveOfficeAddress>
      </item1>

      <item2>
        <filingPersonName>The names of the persons filing this report (collectively, the "Reporting Persons") are:

Norwest Venture Partners XV, LP ("NVP XV")
Genesis VC Partners XV, LLC ("Genesis XV")
NVP Associates, LLC ("NVP Associates")
Jeffrey Crowe ("Crowe")
Jon E. Kossow ("Kossow")

The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G.</filingPersonName>        <principalBusinessOfficeOrResidenceAddress>1300 El Camino Real, Suite 200
Menlo Park, CA 94024</principalBusinessOfficeOrResidenceAddress>        <citizenship>NVP XV			Delaware
Genesis XV		Delaware
NVP Associates	Delaware
Crowe			United States
Kossow			United States</citizenship>      </item2>

        <item3>
		        <notApplicableFlag>Y</notApplicableFlag>

      </item3>



    <item4>
    <amountBeneficiallyOwned>Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of shares of voting common stock of the Issuer beneficially owned by such Reporting Person as of June 30, 2026 and is incorporated by reference.

The Reporting Persons' beneficial ownership of the Issuer's securities consists of 2,268,404 shares of voting common stock directly held by NVP XV.

Genesis XV is the general partner of NVP XV, NVP Associates is the managing member of Genesis XV and Crowe and Kossow are Co-Chief Executive Officers of NVP Associates. Each of Genesis XV, NVP Associates, Crowe and Kossow, may be deemed to share voting and investment authority over these shares.</amountBeneficiallyOwned>    <classPercent>Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of the securities of the Issuer beneficially owned by such Reporting Person as of June 30, 2026 and is incorporated by reference. The percentage set forth in each row 11 is based upon 44,333,095 shares of voting common stock outstanding as of June 2, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on June 3, 2026.</classPercent>
      <numberOfSharesPersonHas>
        <solePowerOrDirectToVote>Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of June 30, 2026 and is incorporated by reference.</solePowerOrDirectToVote>
        <sharedPowerOrDirectToVote>Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of June 30, 2026 and is incorporated by reference.</sharedPowerOrDirectToVote>
        <solePowerOrDirectToDispose>Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of June 30, 2026 and is incorporated by reference.</solePowerOrDirectToDispose>
        <sharedPowerOrDirectToDispose>Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of June 30, 2026 and is incorporated by reference.</sharedPowerOrDirectToDispose>
      </numberOfSharesPersonHas>
    </item4>


        <item5>
	          <notApplicableFlag>Y</notApplicableFlag>


    </item5>


        <item6>
	  	  <notApplicableFlag>Y</notApplicableFlag>
		        </item6>


        <item7>
	  	  <notApplicableFlag>Y</notApplicableFlag>


    </item7>


          <item8>
                <notApplicableFlag>Y</notApplicableFlag>

              </item8>


            <item9>
                <notApplicableFlag>Y</notApplicableFlag>
                      </item9>


      <item10>
                    <notApplicableFlag>Y</notApplicableFlag>

      </item10>
    </items>

		<exhibitInfo>Exhibit 99.1	Joint Filing Agreement</exhibitInfo>

	    <signatureInformation>
      <reportingPersonName>Norwest Venture Partners XV, LP</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Matthew De Dominicis</signature>
        <title>By Genesis VC Partners XV, LLC, its General Partner, By NVP Associates, LLC, its Managing Member, By Matthew De Dominicis, Chief Financial Officer </title>
        <date>08/11/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>Genesis VC Partners XV, LLC</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Matthew De Dominicis</signature>
        <title>By NVP Associates, LLC, its Managing Member, By Matthew De Dominicis, Chief Financial Officer</title>
        <date>08/11/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>NVP Associates, LLC </reportingPersonName>

      <signatureDetails>
        <signature>/s/ Matthew De Dominicis</signature>
        <title>By Matthew De Dominicis, Chief Financial Officer</title>
        <date>08/11/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>Jeffrey Crowe</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Matthew De Dominicis</signature>
        <title>By Matthew De Dominicis, Attorney-in-fact</title>
        <date>08/11/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>Jon Erik Kossow</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Matthew De Dominicis</signature>
        <title>By Matthew De Dominicis, Attorney-in-fact</title>
        <date>08/11/2026</date>
      </signatureDetails>

    </signatureInformation>



  </formData>


    </edgarSubmission>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex-99-08112026_090830.htm
<DESCRIPTION>JOINT FILING AGREEMENT
<TEXT>
<!DOCTYPE html PUBLIC "-//IETF//DTD HTML//EN">
<html><head><title>ex-99-08112026_090830.htm</title></head><body style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<p style="margin:0px" align="center">EXHIBIT 99.1</p>
<p style="margin:0px" align="center"><br></p>
<p style="margin:0px" align="center">JOINT FILING AGREEMENT</p>
<p style="margin:0px" align="center"><br></p>
<p style="margin:0px">We, the undersigned, hereby express our agreement that the attached Schedule 13G (or any amendments thereto) relating to the voting common stock of Avalyn Pharma Inc. is filed on behalf of each of us.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Dated: August 11, 2026</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Norwest Venture Partners XV, LP </b></p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By </p>
<p style="margin:0px; text-indent:-2px">Genesis VC Partners XV, LLC </p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; clear:left; float:left">Its</p>
<p style="margin:0px; text-indent:-2px">General Partner </p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By </p>
<p style="margin:0px; text-indent:-2px">NVP Associates, LLC </p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; clear:left; float:left">Its: </p>
<p style="margin:0px; text-indent:-2px">Managing Member </p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By: </p>
<p style="margin:0px; text-indent:-2px"><u>/s/ Matthew De Dominicis</u> </p>
<p style="margin:0px; text-indent:30px; clear:left">Name: Matthew De Dominicis </p>
<p style="margin:0px; text-indent:30px">Title: Chief Financial Officer</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Genesis VC Partners XV, LLC </b></p>
<p style="margin:0px">&nbsp;</p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By </p>
<p style="margin:0px; text-indent:-2px">NVP Associates, LLC </p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; clear:left; float:left">Its: </p>
<p style="margin:0px; text-indent:-2px">Managing Member</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By: </p>
<p style="margin:0px; text-indent:-2px"><u>/s/ Matthew De Dominicis</u></p>
<p style="margin:0px; text-indent:30px; clear:left">Name: Matthew De Dominicis </p>
<p style="margin:0px; text-indent:30px">Title: Chief Financial Officer </p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>NVP Associates, LLC </b></p>
<p style="margin:0px; text-indent:30px">&nbsp;</p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By: </p>
<p style="margin:0px; text-indent:-2px"><u>/s/ Matthew De Dominicis</u> </p>
<p style="margin:0px; text-indent:30px; clear:left">Name: Matthew De Dominicis </p>
<p style="margin:0px; text-indent:30px">Title: Chief Financial Officer </p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Jeffrey Crowe </b></p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By:</p>
<p style="margin:0px; text-indent:-2px"><u>/s/ Matthew De Dominicis </u></p>
<p style="margin:0px; text-indent:30px; clear:left">Name: &nbsp;Matthew De Dominicis </p>
<p style="margin:0px; text-indent:30px">Title: Attorney-in-fact</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><b>Jon E. Kossow</b></p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; width:30px; float:left">By:</p>
<p style="margin:0px; text-indent:-2px"><u>/s/ Matthew De Dominicis </u></p>
<p style="margin:0px; text-indent:30px; clear:left">Name: &nbsp;Matthew De Dominicis </p>
<p style="margin:0px; text-indent:30px">Title: Attorney-in-fact</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
</body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
