The Life Sciences team advised Lyra Therapeutics, Inc. (Nasdaq: LYRA) on 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 and Richard Hoffman.
For more details, read the press release and articles in Fierce Biotech and The Pharma Letter.