BioCentury
ARTICLE | Financial News

Perceptive leads Lyra’s $29.5M series B

September 26, 2018 11:01 AM UTC

Ears, nose and throat disease company Lyra Therapeutics Inc. (Watertown, Mass.) raised $29.5 million in a series B round led by Perceptive Advisors. Fellow new investors RA Capital, ArrowMark Partners and Soleus Capital also participated, as did existing investors Polaris Venture Partners, North Bridge Venture Partners and Intersouth Partners.

CEO Maria Palasis told BioCentury Lyra plans to begin in 1H19 a Phase II trial of LYR-210 to treat chronic rhinosinusitis. She said first-line treatment for the indication is usually a steroid nasal spray, but it’s hard for the sprays to reach the therapeutic site deep in sinonasal tissue. LYR-210 is a long-acting formulation of mometasone furoate, an approved steroid targeting glucocorticoid receptor (GCCR), delivered to the sinonasal tissues as a transmucosal implant. ...

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Lyra Therapeutics Inc.