Lyra Therapeutics and LianBio Announce Strategic Collaboration and Exclusive Licensing Agreement for LYR-210 in Asia

Lyra Therapeutics, Inc. (NASDAQ: LYRA) is a clinical-stage pharmaceutical company focused on leveraging its proprietary XTreo™ platform to deliver drugs via precise, sustained, and local administration to the ear, nose, and throat (ENT) passages and other diseased tissue areas. LianBio is a biopharmaceutical company dedicated to bringing transformative medicines to patients in China and key Asian markets. The two companies announced today that they have entered into a strategic collaboration and exclusive license agreement to jointly develop and commercialize LYR-210 in Greater China (mainland China, as well as Hong Kong, Macau, and Taiwan), South Korea, Singapore, and Thailand. LYR-210 is a late-stage clinical intranasal anti-inflammatory drug matrix designed to treat chronic rhinosinusitis (CRS), an inflammatory condition that impairs nasal function.

Under the terms of the agreement, Lyra will receive a $12 million upfront payment and is eligible for up to $135 million in development, regulatory, and commercialization milestone payments. Following the launch of commercialization, Lyra will also be entitled to low-double-digit tiered royalties on net sales of LYR-210 in each licensed territory. LianTuo Biopharma will bear all development and commercialization costs for LYR-210 within the collaboration territory, while Lyra will retain all rights to LYR-210 outside the collaboration territory. As part of the agreement, LianTuo Biopharma will also obtain priority rights to develop and commercialize Lyra’s LYR-220 within the licensed territory. LYR-220 is an intranasal anti-inflammatory drug matrix designed to treat patients with persistent sinusitis who have previously undergone sinus surgery.

“We are delighted to form a strategic alliance with Liantuo Bio to expand the global reach of LYR-210, replacing surgery with innovative pharmacological therapies to benefit millions of patients with chronic rhinosinusitis.”Dr. Maria Palasis, CEO of Lyrastated, “The LianTuo Bio team possesses deep expertise and competitive advantages in drug development, enabling the successful commercialization of LYR-210 in these Asian markets. This collaboration will allow us to bring our novel integrated ENT pharmaceuticals and drug delivery solutions to patients across the broader Asian market, while also supporting the company’s global commercial strategic layout.”

“Currently, patients with chronic sinusitis who are refractory to medical therapy can only manage the disease through a very limited range of invasive treatment options.”Dr. Yizhe Wang, CEO of LianTuo Bio“Clinical studies conducted to date have demonstrated that a single LYR-210 treatment can provide sustained improvement in clinical symptoms for up to six months in patients with chronic rhinosinusitis, both with and without nasal polyps. Facing more than 88 million adult patients with chronic rhinosinusitis in China, we believe that LYR-210 has the potential to address their significant unmet therapeutic needs and substantially raise the standard of care for patients in the Asia region.”

LYR-210 is a candidate product developed on Lyra’s proprietary XTreo™ platform, capable of delivering continuous local anti-inflammatory therapy for up to six months with a single treatment. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of patients with chronic rhinosinusitis who have failed medical therapy. In a Phase 2 clinical study (LANTERN), LYR-210 (7,500 micrograms) demonstrated rapid, clinically meaningful, and durable symptom improvement in symptom scores over six months.

Lyra Therapeutics, Inc. is a clinical-stage pharmaceutical company focused on leveraging its proprietary XTreo™ platform to deliver precise, sustained, and localized drug delivery to ear, nose, and throat (ENT) passages and other diseased tissue areas that are inaccessible to conventional therapies. Lyra’s XTreo™ platform consists of biocompatible mesh scaffolds, engineered elastic matrices, and multifunctional polymer-drug complexes. The company’s current product pipeline targets deep tissues within the ENT passages, aiming to provide patients with months of sustained medication through a single, non-invasive outpatient treatment. Lyra’s lead candidate, LYR-210, is currently in late-stage clinical development for the treatment of chronic rhinosinusitis, offering up to six months of sustained anti-inflammatory drug delivery to the sinus passages.

LianBio’s mission is to deliver optimal science-driven breakthrough therapies to patients in Greater China and other key Asian markets through efficient product development, enabled by strategic partnerships with leading global biopharmaceutical companies. By collaborating with world-class partners across diverse therapeutic areas and geographies, LianBio has built a disease-focused product pipeline that leverages translational mechanisms and precision therapies to improve patient outcomes.