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Beleaguered biotech firm pays hefty fees to offload remaining real estate near Boston

Lyra Therapeutics cuts ties with office properties after laying off employees
Lyra Therapeutics terminated deals for two offices it leased across the Boston area, including 480 Arsenal St. in Watertown, pictured. (CoStar)
Lyra Therapeutics terminated deals for two offices it leased across the Boston area, including 480 Arsenal St. in Watertown, pictured. (CoStar)
CoStar News
April 15, 2026 | 7:15 P.M.

A Boston-area biotech company is cutting the cord on all of its physical office space in the aftermath of failed drug trials and the elimination of its remaining workforce.

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