Biotech Firm, Gambling Software Co. Prep IPOs Totaling $83M

Law360 (April 27, 2020, 7:05 PM EDT) -- A biotechnology firm developing therapies for ear, nose and throat disorders and a U.K. maker of gambling software on Monday set pricing terms for U.S. initial public offerings that could raise roughly $83 million combined, bolstering an IPO pipeline that is showing life after a long period of dormancy.

Lyra Therapeutics Inc., advised by Latham & Watkins LLP, told regulators that it plans to offer 3.5 million shares priced between $14 and $16, raising $52.5 million at midpoint. Watertown, Massachusetts-based Lyra plans to spend most proceeds on two product candidates that are being developed to treat rhinosinusitis, which is an inflammation...

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