Firm Advises Lyra Therapeutics on its Initial Public Offering

Lyra Therapeutics, Inc. has announced the closing of its initial public offering of 4,025,000 shares of common stock at a public offering price of $16.00 per share, which includes the exercise in full by the underwriters of their option to purchase up to 525,000 additional shares. All of the common stock was sold by Lyra. The gross proceeds to the Company, before underwriting discounts and commissions and fees and expenses, are approximately $64 million.

Latham & Watkins LLP advised Lyra Therapeutics in the initial public offering with a capital markets team led by partners Peter Handrinos and Wesley Holmes with associates Samuel Niles, Thomas Gabay and Shawn Noh. Advice was also provided on FDA regulatory matters by partners John Manthei and Ben Haas with associate Eitan Bernstein; on healthcare regulatory matters by counsel Betty Pang with associate Margaret Rote; on intellectual property matters by partner Alan Tamarelli with associate Jiqiang Lin; on benefits and compensation matters by partner Matthew Conway with associate Lilly Fang; and on tax matters by partner Andrea Ramezan- Jackson with associate Pierce Pandolph.