LianBio bags Chinese rights to Lyra's nasal implantable matrix

Woman blowing nose
LianBio is paying $12 million upfront and committing up to $135 million in milestones for the rights. (Public Domain Pictures)

LianBio has licensed exclusive rights to Lyra Therapeutics’ nasally administered treatment for chronic rhinosinusitis (CRS) in China and other Asian markets. Lyra is receiving $12 million upfront in return for the regional rights to the clinical-phase, mometasone furoate-eluting implantable matrix.

The prospect, LYR-210, uses Lyra’s XTreo platform to deliver the anti-inflammatory drug mometasone furoate directly to the nasal passages for up to six months. Lyra’s XTreo platform consists of a mesh scaffold that releases the drug and an elastomeric matrix that adapts to the patient’s anatomy. The drug is formulated with a polymer to enable long-term dosing.

Lyra shared full data from a phase 2 clinical trial of LYR-210 in April. The study enrolled 67 patients—falling short of its original target because of the pandemic—and randomized them to receive one of two doses of LYR-210 or an inactive control. 

The study missed its primary endpoint, which assessed patients on a symptom score at Week 4, but a dose-dependent divergence between treatment and control later in the study led Lyra to hail the data as positive. 

Shanghai-based LianBio has seen enough promise in the data to buy the rights to LYR-210 in China, Hong Kong, Taiwan and Macau as well as South Korea, Singapore and Thailand. LianBio is paying $12 million upfront and committing up to $135 million in milestones for the rights. The deal, which also features low double-digit royalties, makes LianBio solely responsible for development and commercialization in the licensed territories.

With the support of Perceptive Advisors, LianBio has previously picked up Chinese rights to therapies from MyoKardia and BridgeBio Pharma companies Navire Pharma and QED Therapeutics. LianBio’s desire to add LYR-210 to its pipeline is underpinned by an analysis of the number of CRS patients in the licensed territories and the perceived shortcomings of the current treatment options. 

“With an estimated 88 million adult CRS patients in China alone, we believe LYR-210 has the potential to address a significant unmet medical need and meaningfully improve the standard of care for patients in Asia,” LianBio CEO Yizhe Wang, Ph.D., said in a statement.