Lyra Therapeutics sells rights for LYR-210 to LianBio

2 June 2021

US drug developer Lyra Therapeutics’ (Nasdaq: LYRA) shares were up 4.7% at $7.99 in morning trading, after it announced a strategic partnership and exclusive license agreement with Sino-American biotech LianBio for the development and commercialization of LYR-210 in Greater China (mainland China, Hong Kong, Taiwan, and Macau), South Korea, Singapore and Thailand.

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.

Terms of the transaction

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