Lyra Therapeutics is a clinical-stage company developing integrated drug and delivery solutions for localized treatment of ear, nose and throat diseases using its proprietary XTreo platform. Its lead product candidates, LYR-210 and LYR-220, are bioresorbable polymeric matrices designed for brief, in‑office administration to deliver up to six months of continuous mometasone furoate therapy to the sinonasal passages. LYR-210 is being developed for surgically‑naïve chronic rhinosinusitis (CRS) patients and is in an ongoing Phase 2 trial; LYR-210 met its primary safety endpoint in Phase 1 and showed clinically meaningful improvement in SNOT-22 scores through week 25. LYR-220 is intended for post‑surgical CRS patients with enlarged nasal cavities who continue to require treatment. The company plans to use recent financing proceeds to advance LYR-210 and LYR-220 and for general corporate purposes. Lyra is also exploring additional applications of its XTreo platform beyond CRS. Lyra Therapeutics is a clinical-stage biotech developing medicines that target ear, nose and throat (ENT) diseases using a proprietary transmucosal therapeutic system. Its lead product, LYR-210, is a biodegradable, physician-administered implant that delivers an approved steroid (mometasone furoate) directly into sinonasal tissues for up to six months. In Phase 1 testing LYR-210 was reported as safe, well-tolerated and showed significant improvements in clinical outcomes in chronic rhinosinusitis (CRS) patients, including those with and without nasal polyps. The company plans to advance LYR-210 into a Phase 2 study for CRS and to apply its polymeric matrix platform to other ENT indications. Lyra recently completed a $29.5 million Series B equity financing to fund the planned Phase 2 and further development activities. The company changed its name from 480 Biomedical to Lyra Therapeutics and is located in the Boston/Watertown, Massachusetts biotech region.

Total raised

$60M

Funding rounds

2

Latest round

Series C

Latest activity

Jan 2020