Lyndra Therapeutics Winds Down Operations, Ending Promising Weekly Oral Therapy Development

Lyndra Therapeutics, a spin-out from Moderna co-founder Robert Langer's lab at MIT, has begun winding down operations this week. The company, which aimed to revolutionize drug delivery with its weekly oral therapy platform, was unable to secure the necessary financing to complete a crucial phase 3 safety study.

Financial Struggles and Layoffs

Despite raising $101 million in a Series E funding round in 2023, Lyndra has fallen victim to the challenging current operating environment. The company officially started its wind-down process on March 26, with approximately 60 employees set to be laid off. Craig Jalbert, an expert in company wind-downs, has been brought in to oversee Lyndra's closure.

LYNX Platform and Clinical Progress

Lyndra's LYNX drug delivery platform demonstrated significant potential, with the company being the first to show that weekly oral therapy is possible. Their lead candidate, LYN-005, a long-acting version of the schizophrenia drug risperidone, had shown promising results in clinical trials.

In a phase 3 trial with 90 patients, Lyndra's weekly version of risperidone successfully delivered the same medicine levels as the daily version. The company had planned to initiate a phase 3 safety study in the first half of 2025 but was unable to secure the necessary funding to proceed.

Industry Impact and Future Prospects

A Lyndra spokesperson expressed gratitude to the employees, partners, and vendors who developed the LYNX platform, emphasizing its readiness for a phase 3 safety study. Despite the current setback, the company remains hopeful that the safety study can be executed in the future, potentially allowing oral weekly therapies to reach physicians and patients who could benefit from their "remarkable potential."