Lyra Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has cleared the company’s Investigational New Drug (IND) application for LYR-210 for the treatment of chronic rhinosinusitis (CRS), a debilitating chronic disease affecting millions of patients. LYR-210 is the company’s lead product candidate that is designed to deliver continuous drug therapy to the sinonasal passages for up to six months with a single administration for the treatment of CRS. Lyra plans to incorporate U.S. clinical sites into LANTERN, its ongoing global Phase 2 clinical trial of LYR-210, which was initiated in May 2019 at sites in New Zealand, Australia and Europe. The Phase 2 LANTERN study is an ongoing randomized, sham procedure-controlled, patient-blinded clinical trial to evaluate the safety and efficacy of LYR-210 in adult patients with CRS with and without nasal polyps. In the Phase 2 LANTERN study, CRS patients who have not had sinus surgery will receive in-office bilateral administration of either one of two dose levels of LYR-210 or a sham procedure. LYR-210 is designed to be administered into the sinonasal passages through a single-use applicator and to deliver drug locally at the site of inflammation as a potential preferred alternative to surgery for patients who have failed medical management.