Lyra Therapeutics (NASDAQ:LYRA) is a clinical-stage biopharmaceutical company dedicated to developing locally delivered drug-device therapies for ear, nose and throat (ENT) disorders. Founded in 2014 and headquartered in Massachusetts, Lyra leverages its proprietary NOV-embedded matrix platform to provide sustained release of therapeutic agents directly to targeted sinonasal and middle ear tissues. The company’s mission is to address chronic ENT conditions with innovative, minimally invasive treatments that improve patient outcomes and reduce systemic side effects associated with traditional therapies.
The company’s lead product candidate, LYR-210, is a biodegradable implant designed to deliver mometasone furoate over a six-month period directly to the sinonasal mucosa in patients with chronic rhinosinusitis (CRS). LYR-210 is currently in Phase 2 clinical development, with data expected to support advancement toward late-stage trials. Lyra’s pipeline also includes LYR-220, a higher-dose implant for CRS, and early-stage programs exploring therapies for otitis media with effusion and noise-induced hearing loss, all leveraging the same sustained-release technology.
Lyra Therapeutics completed its initial public offering in early 2021 and has grown its leadership team with industry veterans in clinical development, regulatory affairs and operations. Mark A. Sirgo serves as President and Chief Executive Officer, bringing more than two decades of biopharmaceutical experience, while a board of directors with deep expertise in drug development and medical devices guides the company’s strategic direction. The company maintains strong ties to academic research institutions and has attracted funding from leading life sciences investors.
Primarily focused on the United States market, Lyra is also exploring partnerships and regulatory pathways to expand into Europe and other regions. By concentrating on chronic and underserved ENT indications, the company aims to transform standard of care through localized, long-acting therapeutics that meet significant patient needs and reduce the burden of repeat interventions.
