The next mental health startup to reach a billion dollar valuation was Calm in 2019. Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. With this additional capital, Lyra will have the opportunity to further distinguish itself as the leader in mental health domestically and expand internationally to address a global need.. Innovative, Clinically Proven Mental Health Care for Members WorldwideLyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the clinical development, potential commercialization and potential benefits of LYR-210 and LYR-220, and the success of the companys strategic partnership and license agreement with LianBio. Theres also concern that the hyper focus on technology and virtual care is like putting lipstick on a pig. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. Pricing. Lyra Therapeutics: View Lyra Health (www.lyrahealth.com) location in California, United States , revenue, industry and description. Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. As part of the agreement, LianBio will also have the first right to obtain development and commercial rights in the licensed territories to Lyras LYR-220, an anti-inflammatory, intra-nasal, drug matrix in development for the treatment of CRS patients who have undergone a prior sinus surgery but continue to have persistent disease. Calm started out as a direct-to-consumer mindfulness app with guided meditations and soothing soundtracks. Contact:Dyani Vanderhorst[emailprotected]m (650) 240-3240, Cision Distribution 888-776-0942 Lyra Health makes $25,479 in a day. Top investors are Durable Capital Partners, Fidelity Management & Research, and Baillie Gifford. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. There are now seven mental health unicorns in the U.S., up from two a year ago, buoyed by the flurry of digital health IPOs, SPAC deals and M&A activity. Lyra's second annual Breakthrough conference was an enormous success, with over 2,000 registrants coming together to reimagine mental health. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Calm offers a free app but also has a paid subscription offering which provides customers with access to a full library of meditation, music and sleep content. The highwater mark was set pre-pandemic when the telepsychiatry and specialty pharmacy company Genoa Health sold to UnitedHealth Group for $2.5 billion in 2018. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced . But it was the Covid-19 pandemic and collective psychological fallout that finally mainstreamed mental health. The companys current pipeline of therapeutics target tissues deep in the ear, nose and throat passages and are designed to deliver continuous drug therapy for months following a single non-invasive, in-office administration. Lyra Health has 22 investors. Lyra General Information. LYR-210 is an investigational product candidate that utilizes Lyras proprietary XTreo platform to enable six months of local anti-inflammatory therapy from a single treatment for chronic rhinosinusitis (CRS). Lyra Health takes a personalized approach to mental healthcare, ensuring that every member has access to self-help resources, coaches, and therapists, whenever they need them. Chrome Extension. When typing in this field, a list of search results will appear and be automatically updated as you type. You can read more about your. There were 124 deals last year, compared to 69 deals in 2016. Existing partners also participated in the funding round. The mental health platform companies help connect users directly with therapists and other providers. Using matching technology and an innovative digital platform, Lyra quickly connects companies and their employees plus spouses and children to world-class therapists, mental health coaches, and personalized medication prescribing. Lyra Health is funded by 35 investors. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families," said Ebersman. Lyra Health, a leading provider of innovative mental health benefits for more than 2.2 million global employees and dependents, is transforming mental health care by creating a frictionless experience for members, providers, and employers. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. In a single month, Lyra Health normally makes close to $775,000 in revenue. according to the National Alliance on Mental Illness. Lyra also today announced the addition of Robynne Sisco to its Board of Directors. Lyra helps companies improve access to effective, high-quality mental health care for their employees. Several VC-backed companies also employ mental health coaches. These people cant diagnose or treat clinical conditions but are supposed to help users who are dealing with stressors in their jobs or relationships before they spiral. Lyra Health, a leading provider of innovative mental health benefits for more than 1 million U.S. employees and dependents, is transforming mental health care by creating a frictionless experience . Upon commercialization on a region-by-region basis, Lyra also will be entitled to receive low double-digit royalties based on net sales of LYR-210 in the licensed territories. January 21, 2022. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. The round was led by Addition and had . It also noted that Lyra Health's most recent price per share is $27.47, an up round from the Series D, which priced shares at $14.21. For more information about Lyra Health's innovative mental health benefits for employers, visitlyrahealth.com. (Neither company can help people who are in a life-threatening mental health crisis and instead link to resources like the National Suicide Prevention Line.) Constrained optimization for provider groups, Personalized adaptive risk assessment service, Co-Founder, Chief Executive Officer & Board Member, To view Lyras complete valuation and funding history, request access, To view Lyras complete cap table history, request access, Youre viewing 2 of 29 competitors. Nearly 1 billion people worldwide suffer from a mental health disorder, yet more than 70% of people dont have access to the care they need. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. Mental health issues are much more pervasive than is commonly known, and Lyra is thoughtfully redefining access to care by providing broad-based solutions through employers. Transforming Access to Mental Health Care Around the WorldNearly 1 billion people worldwide suffer from a mental health disorder, yet more than 70% of people don't have access to the care they need. Seed: Venrock: Seed: Providence Health & Services: Series A: Origin Capital Management . Lyra Health Investors. Company Type For Profit. Headspace develops an online membership platform offering guided meditation and mindfulness. Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. The company's platform connects members to a curated network of therapists and coaches through live video therapy, coaching and digital self-care tools, resulting in faster access to care and better outcomes than traditional plans . Lyra Health's deal structure is available for 7 funding rounds, including their Series G from January 19, 2022. Worldwide, 970 million people are living with mental health issues. Lyra Health has 36 investors including Castlight Health, Providence, Castlight Health and Venrock Associates. & SHANGHAI & PRINCETON, N.J.--(BUSINESS WIRE)--Lyra Therapeutics, Inc. (Nasdaq: LYRA), a clinical-stage therapeutics company leveraging its proprietary XTreo platform to enable precise, sustained, and local delivery of medications to ear, nose and throat (ENT) passages and other diseased tissues, and LianBio, a biotechnology company dedicated to bringing paradigm-shifting medicines to patients in China and other major Asian markets, today announced a strategic partnership and exclusive license agreement for the development and commercialization of LYR-210 in Greater China (mainland China, Hong Kong, Taiwan, and Macau), South Korea, Singapore and Thailand. 22 Shares. Start Free Trial . The Covid-19 pandemic and collective psychological fallout finally mainstreamed mental health. Coatue Management invested in Lyra Health's Series G funding round. Investors Dragoneer . For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. 508 904 9446 These investors may include private investors, venture capital firms, or other investment vehicles. Elizabeth Anderson, VP Communications and Investor Relations After extensive research and analysis, Zippia's data science team found the following key financial metrics. Many of these startups partner with research institutions to publish studies, but no one has performed a head-to-head comparison of the market. Lyra Health peak revenue was $9.3M in 2022. Lyra delivers mental health for employees and family members at leading multinational companies, including eBay; Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. and our Code of Business Conduct and Ethics in the "Governance" section of the "Investors & News" page of our website located at www . The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. You can access direct insights and strategies from . Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. Edit Investors Section. Lyra's innovative Blended Care Therapy pairs video counseling sessions, one-to-one messaging, and digital activities prescribed by the provider to support individuals in their everyday lives. Jessi Gold, a psychiatrist and assistant professor at Washington University in St. Louis, has been conducting virtual appointments but prefers to see patients in person. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. Some of these valuations are beyond appropriate given the underlying fundamentals, Suennen says. Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . The startups take different approaches to connecting users with mental health services. Lyra customers include Genentech, a member of the Roche Group; Morgan Stanley; Zoom Video Communications; and dozens of the world's largest, most respected brands. Lyra Health doubles customers, expands to serve more than 2 million members. LianBio collaborates with world-class partners across a diverse array of therapeutic and geographic areas to build out a pipeline based on disease relevance and the ability to impact patients with transformative mechanisms and precision-based therapeutics. Lyras curated network includes more than 5,000 coaches, therapists, and doctors in the U.S., with an additional 85,000 providers available worldwide through global partnerships. Lyra plans to continue expanding Blended Care to serve a wide range of members and mental health challenges. Find related and similar companies as well as employees by title and much more. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Last August, the company cemented its . Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Get the full list, To view Lyras complete patent history, request access, Youre viewing 5 of 16 executive team members. 914-204-6412 In her distinguished career, Sisco has held senior finance roles at VMware, VeriSign, and Oracle and she brings to Lyra more than 30 years of experience in corporate finance, accounting operations, investor relations, legal, and procurement. In January, Talkspace announced plans to go public in a SPAC deal valuing the company at $1.4 billion; the deal is expected to close later this year. Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale, said Sisco. Low-income or rural communities without sufficient broadband access are still at a loss, and there will continue to be a nationwide shortage of providers and issues with reimbursement. If you or someone you know is thinking about suicide, please call the National Suicide Prevention Lifeline at 800-273-TALK (8255) or text the Crisis Text Line at 741-741. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. . Lyra Health has 750 employees, and the revenue per employee ratio is $12,400. The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. As the demand for mental health care accelerates worldwide, I am honored to join them in the quest to deliver a powerful support system for companies and their employees., We are excited to welcome Robynne to our Board of Directors, said David Ebersman, Lyra Health CEO and co-founder. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. Lyra Health is a leading provider of innovative mental health benefits for more than 2.5 million global employees and dependents and is transforming mental health care by . You can't just put a tool in an inequitable system and expect it to solve all of those inequities. It covers mental well-being needs through both evidence-based technology and professional support from a coach or therapist. Lyra Health. This latest financing round will allow Lyra to continue to develop new and innovative care solutions while reaching new customers and members.". Funding, Valuation & Revenue. The firm's track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. CBI websites generally use certain cookies to enable better interactions with our sites and services. Given the spotty coverage, Kocher and Ebersman hypothesized that employers would be willing to pay for a separate mental health benefit, especially since depression is one of the leading causes of disability worldwide. Lyra hit unicorn status in 2020 in a pandemic-fueled funding round, and Modern Health, BetterUp and Ginger joined the club in 2021. Lyra is transforming mental health care using intelligent matching technology, concierge support, and an innovative digital platform to deliver a frictionless experience for members, providers, and employers. Dr. . By continuing to use this site you are consenting to these choices. cabarrus county noise ordinance, 2008 hawaii quarter error value, what does the bible say about forcing religion on someone,

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