Lyra Therapeutics, Inc.
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in mil. unless spec.Company Description
- CEO
- Carmichael S. Roberts Jr.
- Full Time Employees
- 27
- Sector
- Healthcare
- Industry
- Biotechnology
- Address
- 480 Arsenal Way Watertown MA United States of America 02472
- IPO Date
- May 1, 2020
- CIK
- 0001327273
- Website
- lyratherapeutics.com
- Similar Companies
- Business
- Lyra Therapeutics, Inc. is a clinical-stage biotechnology company specializing in the development and commercialization of drug and delivery solutions for the localized treatment of chronic rhinosinusitis (CRS), an inflammatory disease of the paranasal sinuses. The company’s core products include LYR-210 and LYR-220, which are bioabsorbable nasal implants designed to be administered via a brief, in-office procedure to deliver continuous anti-inflammatory mometasone furoate therapy locally to sinonasal tissues for up to six months. These products leverage Lyra’s proprietary XTreo™ platform, which enables precision delivery of medication directly to affected ear, nose, and throat (ENT) tissues, addressing the significant unmet medical need of persistent CRS symptoms in patients. Lyra primarily operates in the biotechnology and pharmaceutical sector, targeting patients with CRS in the United States and aiming for international expansion through partnerships. Recent major developments include positive Phase 3 ENLIGHTEN 2 clinical trial results for LYR-210 presented in 2025, showing statistically significant symptom improvements compared to control, with ongoing preparations for a confirmatory Phase 3 trial following FDA feedback to support a new drug application (NDA) submission. In 2025, Lyra resumed manufacturing activities, engaged with the FDA for regulatory alignment, and implemented a 1-for-50 reverse stock split to maintain Nasdaq listing compliance. Additionally, Lyra maintains a strategic partnership and exclusive license agreement with LianBio for the development and commercialization of LYR-210 in Greater China, South Korea, Singapore, and Thailand, providing Lyra with upfront payments and milestone-based revenues. The company continues to advance its pipeline with clinical studies on LYR-220, broadening its treatment addressable market within CRS. Founded in 2014 and headquartered in Boston, Massachusetts, Lyra Therapeutics operates primarily within the United States, with growing international collaborations. The company focuses on innovative treatments for ENT diseases, primarily CRS, and aims to provide long-acting, localized treatments that break the cycle of conventional medical management. Lyra Therapeutics remains a single operating segment entity driven by proprietary drug delivery technology and an expanding clinical portfolio targeting CRS patients both with and without nasal polyps.
Company News
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