“We are a clinical-stage therapeutics company focused on the development and commercialization of novel integrated drug and delivery solutions for the localized treatment of patients with ear, nose and throat, or ENT, diseases. Our proprietary technology platform, XTreo, is designed to precisely and consistently deliver medicines directly to the affected tissue for sustained periods with a single administration. Our initial product candidates, LYR-210 and LYR-220, are bioresorbable polymeric matrices designed to be administered in a brief, non-invasive, in-office procedure and intended to deliver up to six months of continuous drug therapy to the sinonasal passages for the treatment of chronic rhinosinusitis, or CRS. The therapeutic embedded within LYR-210 and LYR-220 is mometasone furoate, or MF, which is the active ingredient in various U.S. Food and Drug Administration, or FDA, approved drugs and has a well-established efficacy and safety profile. CRS is an inflammatory disease of the paranasal sinuses which leads to debilitating symptoms and significant morbidities and affects approximately 14 million people in the United States.
Why Private Equity is Destroying the IPO Market
The scale of private equity funds in the US has increased dramatically over the past decade. With that being said, many claim private equity backed Initial Public Offerings (IPOs) make for better investments with substantial returns post IPO. While this may have been true in the past years, PE backed IPOs are moving in a negative direction with various red flags that should not be underestimated. During the IPO Market’s 1Q, PE accounted for 8 of the 24 IPOs raising 4.6 bn, a 7% increase in proceeds from 1Q 2019. PE funds have picked up exponentially in the past decade with an estimated 2.4 trillion in current dry power. As PE grows in the financial world, so does its risks and influences on the IPO market.