An­oth­er pan­dem­ic biotech IPO has sold at the high range.

Lyra Ther­a­peu­tics said to­day their pub­lic of­fer­ing, first filed in ear­ly March, raised $56 mil­lion, with 3.5 mil­lion shares sell­ing at $16. Al­though that was a price-per-share at the top of their $14 to $16 range, the of­fer­ing re­mains just a hair short of the ini­tial goal of a $57.5 mil­lion.

Found­ed around an im­plant de­vel­oped by MIT’s Bob Langer and Har­vard’s George White­sides, Lyra is test­ing their lead can­di­date, LY-210, in a Phase II tri­al for chron­ic rhi­nos­i­nusi­tis — a con­di­tion in which spaces in­side the nose and si­nus­es are con­tin­u­al­ly in­flamed, caus­ing breath­ing dif­fi­cul­ty and a per­pet­u­al­ly stuffy nose amid a long list of oth­er symp­toms. Orig­i­nal­ly de­vel­oped for pe­riph­er­al artery dis­ease, the com­pa­ny’s im­plant is used to de­liv­er the gener­ic an­ti-in­flam­ma­to­ry mometa­sone furoate di­rect­ly to the af­fect­ed mus­cles.

Lyra’s raise comes on the heels of a string of sev­er­al large biotech IPOs, as com­pa­nies such as Zen­tal­is Phar­ma­ceu­ti­cals and ORIC Ther­a­peu­tics were able to raise large amounts of cap­i­tal in a mar­ket ea­ger to find as­sets large­ly in­su­lat­ed from the pan­dem­ic. Ear­li­er this week, ADC Ther­a­peu­tics, af­ter with­draw­ing a $200 mil­lion fil­ing in Oc­to­ber, re­turned with a $100 mil­lion of­fer­ing.

The com­pa­ny has a sec­ond as­set — es­sen­tial­ly the same im­plant but larg­er to ac­com­mo­date pa­tients whose si­nus­es have been en­larged from surgery — now en­ter­ing a proof-of-con­cept tri­al, but the vast ma­jor­i­ty of the pro­ceeds will go to a Phase III tri­al and com­mer­cial­iza­tion costs for LY-210. A da­ta read­out on the Phase II is ex­pect­ed in the first quar­ter of 2021.

The IPO comes just 3 months af­ter a $30 mil­lion Se­ries C led by Per­cep­tive Ad­vi­sors. En­ter­ing the pub­lic of­fer­ing, Per­cep­tive owned about a third of the com­pa­ny (32.4%). Oth­er large share­hold­ers in­clud­ed North Bridge Ven­ture Part­ners (17.3%), en­ti­ties af­fil­i­at­ed with Po­laris Ven­ture Part­ners (16%), RA Cap­i­tal Health­care Fund (9.6%) and In­ter­south Part­ners VII (7.9%).

The world of radiopharmaceuticals has been heating up over the last few years, and Thursday saw another company focused on the field pull in a new nine-figure raise.

Germany’s ITM, or Isotopen Technologien München, scored a $109 million round of loan financing to push forward its precision oncology pipeline and fund late-stage development for its lead program. As part of the agreement, the loan will convert to shares in the event of future financial or corporate transactions, ITM said.

Francesco De Rubertis made no secret of IPO plans for Centessa, his 10-in-1 legacy play. Barely two months later, the S-1 is in.

The hot-off-the-press filing depicts the same grand vision that the longtime VC touted when he did the rounds in February: Take the asset-centric mindset that he’s been preaching at Medicxi over the years, and roll up a bunch of biotech upstarts, with unrelated risk profiles, into 1 pharma company that can carry on the development at scale.

As concerns rise around the J&J and AstraZeneca vaccines, global attention is increasingly turning to the little, 33-year-old, productless, bankruptcy-flirting biotech that could: Novavax.

In the now 16-month race to develop and deploy Covid-19 vaccines, Novavax has at times seemed like the pandemic’s most unsuspecting frontrunner and at times like an overhyped also-ran. Although they started the pandemic with only enough cash to last 6 months, they leveraged old connections and believers into $2 billion and emerged last summer with data experts said surpassed Pfizer and Moderna. They unveiled plans to quickly scale to 2 billion doses. Then they couldn’t even make enough material to run their US trial and watched four other companies beat them to the finish line.

The FDA wrapped up its inspection of Emergent’s troubled vaccine manufacturing plant in Baltimore on Tuesday, after halting production there on Monday. By Wednesday morning, the agency already released a series of scathing observations on the cross contamination, sanitary issues and lack of staff training that caused the contract manufacturer to dispose of millions of AstraZeneca and J&J vaccine doses.

Bayer first set roots in Berkeley back in 1974, when it was still operating as Miles Labs. The site has pumped out three hemophilia A treatments for distribution worldwide; but now, as the pharma continues its cell and gene therapy push, it has something bigger in mind.

Bayer is planning a 30-year revamp at the campus, which includes 918,000 square feet in new buildings and double the jobs, according to a report by the Bay Area Council Economic Institute.