Goodwin Procter LLP advised Lyra Therapeutics, Inc. on the deal.
Lyra Therapeutics, Inc. (Nasdaq: LYRA) announced its strategic partnership and exclusive license agreement with LianBio for the development and commercialization of LYR-210 in Greater China (mainland China, Hong Kong, Taiwan, and Macau), South Korea, Singapore, and Thailand.
Lyra Therapeutics is a clinical-stage therapeutics company leveraging its proprietary XTreo™ platform to enable precise, sustained, and local delivery of medications to ear, nose and throat (ENT) passages and other diseased tissues. Lyra’s lead product candidate LYR-210 is an anti-inflammatory, intra-nasal drug matrix in late-stage development that is designed to treat chronic rhinosinusitis (CRS), a debilitating inflammatory disease of the nasal passages.
LianBio is a biotechnology company dedicated to bringing paradigm-shifting medicines to patients in China and other major Asian markets.
Under the terms of the agreement, Lyra will receive an upfront payment of $12 million and is eligible to receive up to $135 million in future payments based upon the achievement of specified development, regulatory and commercialization milestones. Upon commercialization on a region-by-region basis, Lyra also will be entitled to receive low double-digit royalties based on net sales of LYR-210 in the licensed territories.
The Goodwin team was led by Noelle Dubiansky (Picture), Richard Hoffman, and Melissa Paddock.
Law Firms: Goodwin Procter;
Clients: Lyra Therapeutics Inc.;