About Lyra Therapeutics
Lyra Therapeutics is a publicly listed company based in Watertown (United States) founded in 2005 by George Whitesides and Robert Langer. Small molecule therapeutics for ENT diseases are developed. Lyra Therapeutics has raised $127.61 million across 12 funding rounds from investors including HHS, RA Capital and Perceptive Advisors. The company has 30 employees. Its chief executive, as recorded, is Maria Palasis. Its focus areas include Life Sciences, Drug Delivery, Intravenous and ENT Disorders. Its competitors include Insulet, Decibel Therapeutics and TriSalus Life Sciences; 3 of its 3 listed competitors have raised funding.
Company details
Lyra therapeutics is developing small molecule based therapeutics for ear, nose, and throat (ENT) diseases. The companys proprietary product platform is a transmucosal therapeutic system which comprises of drugs that target ear, nose, and throat diseases and administered through a polymeric matrix. The companys lead product candidate LYR-210 used against chronic rhinosinusitis is used to deliver a long-acting formulation of an approved steroid, mometasone furoate, deep into the sinonasal tissues. It has completed the Phase 1 clinical trials. It can be used in patients both with and without nasal polyps.
- Headquarters Watertown, United States
- Employees 30
- Founders George Whitesides, Robert Langer
- Stage Public
- SectorsHealthcare
- Website category Health · Biotechnology and Pharmaceuticals
- Email••••••••
- Phone•••• ••••
- Website lyratherapeutics.com
- Social LinkedIn
- Legal Name Lyra Therapeutics, Inc.
- Annual Revenue$1.53 M (USD)-1.54as on Dec 31, 2024
- Net Profit-$93.44 M (USD)-49.07as on Dec 31, 2024
- EBITDA-$60.26 M (USD)7.64as on Dec 31, 2024
- Total Equity Funding$127.61M (USD)
in 12 rounds
- Latest Funding Round$50M (USD), Post-IPO
Jun 2023
- InvestorsHHS
& 9 more
- Employee Count30
Funding Insights of Lyra Therapeutics
Lyra Therapeutics has successfully raised a total of $127.61M across 12 strategic funding rounds. The most recent funding activity was a Post-IPO round of $50 million completed in June 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $127.61M
- Total Rounds 12
- Last Round Post-IPO — $50M
- First Round $15M
(Oct 2011)
- Investors Count 10
Latest 10 of 12 funding rounds of Lyra Therapeutics with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2023 | $50M | Post-IPO | – | – | – |
| Jan 2020 | $29.5M | Series B | – | Perceptive Advisors | |
| Sep 2018 | $29.5M | Series B | – | – | |
| Nov 2016 | $6M | Series A | – | – | – |
| Aug 2016 | $1.54M | Grant | – | – | |
| Jun 2015 | $1.2M | Series C | – | – | |
| Jun 2015 | $10.5M | Series C | – | – | |
| Apr 2013 | $17.96M | Series A | – | – | – |
| Mar 2013 | $17.96M | Series B | – | – | – |
| Oct 2012 | $5.08M | Debt – Conventional | – | – | – |
10 investors in total: 10 institutional.
Investors in Lyra Therapeutics
Lyra Therapeutics has secured backing from 10 investors, including venture fund and institutional investors. Prominent investors backing the company include HHS, RA Capital and Perceptive Advisors.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Health-tech companies are targeted for venture capital investments. | 1999 | perceptivelife.com | New York, United States | |
US focused venture capital firm | polarispartners.com | Boston, United States | ||
US focused seed to growth stage VC firm | northbridge.com | Needham, United States | ||
Early-stage life sciences and tech focused VC firm funding companies in the US | intersouth.com | Durham, United States | ||
Clifton Capital is recognized as a private investment firm. | 2012 | cliftoncapital.com.au | Sydney, Australia | |
| soleuscapital.com | ||||
Seed-stage life sciences investments are made in the US. | broadviewventures.org | Boston, United States | ||
Diversified asset management services are provided to investors. | 2007 | arrowmarkpartners.com | Denver, United States | |
RA Capital is engaged in evidence-based investing in healthcare and life sciences. | 2004 | racap.com | Boston, United States | |
Public health and human services are overseen by HHS. | 1953 | hhs.gov |
Investor details for Lyra Therapeutics
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People of Lyra Therapeutics
3 people are tracked at Lyra Therapeutics (3 in leadership); the tracked headcount is 30.
| Name | Role | Group |
|---|---|---|
George Whitesides | Co-Founder | Leadership |
Robert Langer | Co-Founder | Leadership |
Maria Palasis | CEO & President | Leadership |
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IPO & Listings of Lyra Therapeutics
Lyra Therapeutics is a publicly listed company on the NASDAQ with ticker symbol LYRA in USA, operating in the Health technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date01 May 2020
- Listed onNASDAQ: LYRA
- Listed entityLyra Therapeutics, Inc.
- Exchange sectorHealth technology
- ISINUS55234L2043
- Share price$0.49 (-62.5% on the day) · 2026-03-17
- Market capitalisation$878,567.00
- EPS (diluted, trailing year)$-23.78
- Volume (last session)1,396,144
- Analyst consensusNo rating
Financials of Lyra Therapeutics
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2024 | $1.5M | -$93.4M | -$60.3M |
| 2023 | $1.6M | -$62.7M | -$65.2M |
| 2022 | $1.4M | -$55.3M | -$53.9M |
| 2021 | $285,000 | -$43.5M | -$42.6M |
| 2020 | -$22.1M | -$22.1M |
Detailed financial statements for Lyra Therapeutics
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Timeline of Lyra Therapeutics
4 dated milestones of Lyra Therapeutics across 18 years, from founding to its latest funding, stage changes and deals.
- Founded Lyra Therapeutics is founded.
- Funding First funding round of $15.0M.
- IPO Lists on the stock exchange (IPO).
- Funding Latest funding round, Post-IPO, of $50.0M.
Competitors of Lyra Therapeutics
Lyra Therapeutics has 3 listed competitors in our database, 3 of them funded. They include Insulet, Decibel Therapeutics and TriSalus Life Sciences.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| insulet.com | 2000 | Boston, United States | $120.4M | 2,600 | Wearable insulin infusion systems are developed for diabetes patients. | |
| decibeltx.com | 2015 | Cambridge, United States | $169.53M | 62 | Medicines are developed to protect, repair, and restore hearing capacity. | |
| trisaluslifesci.com | 2009 | Westminster, United States | $83.37M | 100 | Developer of drug delivery devices to treat cancers |
Detailed competitors of Lyra Therapeutics
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Web traffic of Lyra Therapeutics
The website of Lyra Therapeutics (lyratherapeutics.com) receives about 5.6K visits a month and ranks #4,040,523 among all websites worldwide, #5,072 in Biotechnology and Pharmaceuticals.
- Monthly visits5.6K
▲ 29.9% vs previous month
- Unique visitors1.8K
per month
- Global rank#4,040,523
among all websites
- Category rank#5,072
Health · Biotechnology and Pharmaceuticals
- Bounce rate36%
- Pages per visit1.9
- Average visit27 sec
- DevicesDesktop 37% · Mobile 63%
Top companies in Biopharma Outsourcing & Drug Delivery
3 companies that operate in the same segment as Lyra Therapeutics (Biopharma Outsourcing & Drug Delivery) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Suite solutions are provided for payers and healthcare providers. | 1998 | Princeton, New Jersey, United States | USD 220 M | USD 374.1 M | 5,666 | |
Wearable insulin infusion systems are developed for diabetes patients. | 2000 | Boston, Massachusetts, United States | USD 120.4 M | USD 2.71 B | 3,900 | |
Developer of small-molecule drugs | 1991 | Los Angeles, California, United States | USD 50 M | USD 348.97 M | 407 |
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Related news about Lyra Therapeutics
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Frequently Asked Questions about Lyra Therapeutics
Lyra Therapeutics was founded in 2005 and raised its 1st funding round 6 years after it was founded.
Lyra Therapeutics is headquartered in Watertown, United States.
Maria Palasis is the CEO of Lyra Therapeutics, as recorded in our data.
Lyra Therapeutics is a funded company, having raised a total of $127.61M across 12 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $5.08M, raised on Oct 2011.
Lyra Therapeutics has 30 employees.
Annual revenue of Lyra Therapeutics is $1.53M as on Dec 31, 2024.
Lyra therapeutics is developing small molecule based therapeutics for ear, nose, and throat (ENT) diseases. The companys proprietary product platform is a transmucosal therapeutic system which comprises of drugs that target ear, nose, and throat diseases and administered through a polymeric matrix. The companys lead product candidate LYR-210 used against chronic rhinosinusitis is used to deliver a long-acting formulation of an approved steroid, mometasone furoate, deep into the sinonasal tissues. It has completed the Phase 1 clinical trials. It can be used in patients both with and without nasal polyps.
Lyra Therapeutics's top competitors include Insulet, Decibel Therapeutics and TriSalus Life Sciences.
Yes, Lyra Therapeutics is publicly traded on NASDAQ under the ticker symbol LYRA.
Lyra Therapeutics has 10 investors. Key investors include HHS, RA Capital, Perceptive Advisors, ArrowMark Partners, and Polaris Partners.