Lyra Therapeutics, Inc., a Watertown, Mass.-based clinical-stage therapeutics company, completed a $30m Series C financing.
The round was led by Perceptive Advisors with participation from Clifton Capital as well as participation by existing investors RA Capital Management, Soleus Capital, ArrowMark Partners, Polaris Venture Partners, North Bridge Venture Partners and Intersouth Partners. Concurrent with the financing, Konstantin Poukalov of Perceptive Advisors has joined Lyra’s Board of Directors.
Led by Maria Palasis, Ph.D., President and Chief Executive Officer, Lyra Therapeutics is a clinical-stage therapeutics company focused on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose and throat diseases. Its proprietary technology platform, XTreo, is designed to precisely and consistently deliver medicines directly to the affected tissue for sustained periods with a single administration.
The company intends to use the funds for the advancement of its lead product candidates, LYR-210 and LYR‑220, and for general corporate purposes. LYR-210 and LYR-220 are therapeutic product candidates for the treatment of chronic rhinosinusitis (CRS) designed to deliver up to six months of continuous drug therapy to the sinonasal passages, with LYR-210 for surgically-naïve patients and LYR-220 for operated patients.
FinSMEs
03/02/2020