Kyorin Pharmaceutical is paying an undisclosed fee for the option to license Japanese development and marketing rights to Cyrano Therapeutics’ CYR intranasal theophylline for the treatment of loss of smell, the companies said.
A Phase 2 trial of the nasal spray in patients with post-viral hyposmia that was initiated in 2023 is still underway. According to the announcement, results from the Phase 2 trial are expected later this year. Cyrano also recently announced the initiation of a Phase 1 trial of CYR-064 in Parkinson’s disease patients.
The company describes itself as “a private, venture-backed clinical stage regenerative medicine company.” Investors include US / Japanese venture capital firm Remiges Ventures, which co-led a $9 million Series B financing in 2024 with Lumira and DeepWork Capital.
Read the Cyrano Therapeutics press release
