Lyell Immunopharma Announces up to $100 Million Equity Private Placement
Lyell Immunopharma (Nasdaq: LYEL), a clinical-stage CAR T-cell therapy company, has secured a private placement agreement worth up to $100 million with institutional and accredited investors. The deal includes an initial $50 million closing at $13.32 per share, expected on July 25, 2025, with potential for an additional $50 million tied to clinical milestones.
The financing includes flexible terms with milestone-based pricing ranging from $10.41 to $25.61 per share and investor call options at $30.73 per share. The proceeds will fund two pivotal-stage trials of LYL314, including the PiNACLE trial for large B-cell lymphoma, and extend the company's cash runway into mid-2027.
Lyell Immunopharma (Nasdaq: LYEL), un'azienda in fase clinica specializzata in terapie CAR T-cell, ha ottenuto un accordo di collocamento privato del valore fino a 100 milioni di dollari con investitori istituzionali e accreditati. L'accordo prevede una prima chiusura di 50 milioni di dollari a 13,32 dollari per azione, prevista per il 25 luglio 2025, con la possibilità di ulteriori 50 milioni legati al raggiungimento di obiettivi clinici.
Il finanziamento prevede condizioni flessibili con prezzi basati su traguardi che variano da 10,41 a 25,61 dollari per azione e opzioni call per gli investitori a 30,73 dollari per azione. I proventi serviranno a finanziare due studi clinici in fase pivotale su LYL314, incluso lo studio PiNACLE per il linfoma a grandi cellule B, e a estendere la liquidità dell'azienda fino a metà 2027.
Lyell Immunopharma (Nasdaq: LYEL), una compañía en etapa clínica especializada en terapias CAR T, ha asegurado un acuerdo de colocación privada por un valor de hasta 100 millones de dólares con inversores institucionales y acreditados. El acuerdo incluye un cierre inicial de 50 millones de dólares a 13,32 dólares por acción, previsto para el 25 de julio de 2025, con la posibilidad de otros 50 millones adicionales vinculados a hitos clínicos.
La financiación ofrece términos flexibles con precios basados en hitos que varían entre 10,41 y 25,61 dólares por acción y opciones de compra para inversores a 30,73 dólares por acción. Los fondos se destinarán a financiar dos ensayos en etapa pivotal de LYL314, incluido el ensayo PiNACLE para linfoma de células B grandes, y a extender la liquidez de la empresa hasta mediados de 2027.
Lyell Immunopharma (나스닥: LYEL)는 임상 단계의 CAR T 세포 치료제 회사로, 기관 및 공인 투자자들과 최대 1억 달러 규모의 사모 배정 계약을 체결했습니다. 이번 계약에는 2025년 7월 25일 예정된 주당 13.32달러에 5,000만 달러의 초기 마감이 포함되며, 임상 성과에 따라 추가로 5,000만 달러가 조달될 수 있습니다.
이번 자금 조달은 주당 10.41달러에서 25.61달러 사이의 성과 기반 가격 조건과 투자자 콜 옵션(주당 30.73달러)을 포함한 유연한 조건으로 구성되어 있습니다. 조달된 자금은 LYL314의 두 건의 중추 임상 시험, 특히 대형 B세포 림프종을 대상으로 하는 PiNACLE 시험에 사용되며, 회사의 현금 유동성을 2027년 중반까지 연장할 예정입니다.
Lyell Immunopharma (Nasdaq : LYEL), une société en phase clinique spécialisée dans les thérapies CAR T-cell, a conclu un accord de placement privé d'une valeur pouvant atteindre 100 millions de dollars avec des investisseurs institutionnels et accrédités. L'accord prévoit une première clôture de 50 millions de dollars à 13,32 dollars par action, attendue le 25 juillet 2025, avec une possibilité d'ajouter 50 millions supplémentaires liés à des jalons cliniques.
Le financement comprend des conditions flexibles avec un prix basé sur des jalons allant de 10,41 à 25,61 dollars par action ainsi que des options d'achat pour les investisseurs à 30,73 dollars par action. Les fonds serviront à financer deux essais en phase pivot de LYL314, y compris l'essai PiNACLE pour le lymphome à grandes cellules B, et à prolonger la trésorerie de la société jusqu'à mi-2027.
Lyell Immunopharma (Nasdaq: LYEL), ein klinisch fortgeschrittenes CAR-T-Zelltherapie-Unternehmen, hat eine Privatplatzierungsvereinbarung im Wert von bis zu 100 Millionen US-Dollar mit institutionellen und akkreditierten Investoren abgeschlossen. Der Deal umfasst einen ersten Abschluss von 50 Millionen US-Dollar zu 13,32 US-Dollar pro Aktie, der für den 25. Juli 2025 erwartet wird, mit der Möglichkeit weiterer 50 Millionen US-Dollar, die an klinische Meilensteine gebunden sind.
Die Finanzierung beinhaltet flexible Konditionen mit meilensteinabhängigen Preisen zwischen 10,41 und 25,61 US-Dollar pro Aktie sowie Kaufoptionen für Investoren zu 30,73 US-Dollar pro Aktie. Die Erlöse werden zur Finanzierung von zwei entscheidenden Studien mit LYL314 verwendet, darunter die PiNACLE-Studie für großzellige B-Zell-Lymphome, und verlängern die Liquiditätsdauer des Unternehmens bis Mitte 2027.
- Secured up to $100 million in private placement financing
- Cash runway extended into mid-2027
- Funds will support two pivotal-stage clinical trials
- Flexible financing structure with milestone-based terms
- Planned BLA submission for LYL314 in 2027
- Potential dilution for existing shareholders
- Milestone-based second tranche dependent on clinical trial success
- Securities are restricted and not immediately tradeable
Insights
Lyell's $100M private placement secures runway through mid-2027, funding pivotal CAR T trials and potential BLA submission.
Lyell Immunopharma has secured a strategic private placement of up to
This financing significantly extends Lyell's cash runway into mid-2027, providing critical funding through several value-inflection points including the completion of the LYL314 PiNACLE trial and subsequent Biologics License Application (BLA) submission. The structure benefits both parties: Lyell receives immediate capital while investors gain potential upside through milestone-based additional investment rights at
The financing will support multiple high-value programs including: (1) two pivotal-stage trials for LYL314, (2) a Phase 3 randomized controlled trial in second-line large B-cell lymphoma, and (3) a new solid tumor CAR T program. Particularly noteworthy is Lyell's transition into pivotal trials for blood cancers while simultaneously expanding into solid tumors, addressing a significantly larger market opportunity.
The use of a private placement rather than a public offering indicates strong institutional investor confidence while minimizing market dilution impact. The milestone-linked second tranche creates a catalyst-rich investment opportunity while effectively managing dilution. The financial runway extension through the BLA submission timeline derisks Lyell's capital position during the most critical clinical development phase of their lead candidate.
SOUTH SAN FRANCISCO, Calif., July 25, 2025 (GLOBE NEWSWIRE) -- Lyell Immunopharma, Inc. (Nasdaq: LYEL), a clinical-stage company advancing next-generation CAR T-cell therapies for patients with cancer, today announced that it has entered into a securities purchase agreement for a private placement with certain institutional and other accredited investors, for gross proceeds of up to approximately
The initial closing of approximately
The Company has the right, but not the obligation, to require the investors to purchase approximately
Each investor will also have the right, but not the obligation, at any time before the Milestone Closing, to purchase at a closing (each, an “Investor Call Closing”) the same dollar amount of common stock (or pre-funded warrants in lieu thereof) it has committed to purchase in the Milestone Closing, at a purchase price per share of
If the number of additional shares to be purchased by an investor in the Milestone Closing or an Investor Call Closing would result in the investor owning more than
After deducting offering expenses, Lyell expects to use net proceeds from the private placement, together with the Company’s existing cash, cash equivalents, and marketable securities, to fund two pivotal-stage clinical trials of LYL314 as well as working capital for other general corporate purposes. With this private placement, Lyell expects its cash, cash equivalents and marketable securities balances will be sufficient to meet working capital and capital expenditure needs into mid-2027, including through expected data from the LYL314 PiNACLE pivotal trial from which Lyell intends to submit a Biologics License Application later in 2027 for patients with large B-cell lymphoma (LBCL) relapsed and/or refractory to two or more lines of prior therapy. The funds are also expected to provide capital through the following additional milestones: a clinical trial data update from LYL314 at the end of this year, initiation and conduct of a Phase 3 randomized controlled trial evaluating LYL314 in patients with relapsed or refractory LBCL in the second-line setting and initiation of a clinical trial evaluating an internally-developed new fully-armed CAR T-cell therapy candidate targeting an undisclosed solid tumor indication.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The investors have been granted customary resale Form S-3 registration rights for the shares of common stock issued to them in the financing.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Lyell
Lyell is a clinical-stage company advancing a pipeline of next-generation CAR T-cell therapies for patients with hematologic malignancies and solid tumors. To realize the potential of cell therapy for cancer, Lyell utilizes a suite of technologies to endow CAR T cells with attributes needed to drive durable tumor cytotoxicity and achieve consistent and long-lasting clinical responses, including the ability to resist exhaustion, maintain qualities of durable stemness and function in the hostile tumor microenvironment. Lyell's lead product candidate, LYL314, is a next-generation dual-targeting CD19/CD20 CAR T-cell product candidate designed to increase complete response rates and prolong the duration of the responses as compared to the approved CD19-targeted CAR T-cell therapies for the treatment of large B-cell lymphoma. The PiNACLE trial is an ongoing single-arm pivotal trial evaluating LYL314 in patients with large B-cell lymphoma that has relapsed and/or been refractory to two or more lines of prior therapy. The Lyell LyFE Manufacturing Center™ has commercial launch capability and can manufacture more than 1,200 CAR T-cell doses at full capacity. To learn more, please visit www.lyell.com.
Forward-looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, statements regarding: the timing, size, pricing and completion of the proposed private placement, including statements regarding the Milestone Closing and the Investor Call Closings; the expected use of proceeds from the private placement; Lyell’s expectation that its financial position and cash runway will meet working capital and capital expenditure needs into mid-2027, including capital needs to progress or initiate clinical trials for LYL314; and other statements that are not historical fact. These statements are based on Lyell’s current plans, objectives, estimates, expectations and intentions, are not guarantees of future performance and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, but are not limited to, risks and uncertainties related to market conditions, volatility in the trading price of the common stock, risks inherent in achieving clinical and corporate milestones, the potential for results from clinical trials to differ from nonclinical, early clinical, preliminary or expected results; significant adverse events, toxicities or other undesirable side effects associated with Lyell’s product candidates; Lyell’s ability to initiate or progress clinical trials on the anticipated timelines, if at all; implementation of Lyell’s strategic plans for its business and product candidates; the sufficiency of Lyell’s capital resources and need for additional capital to achieve its goals; and other risks described under the heading “Risk Factors” in Lyell’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the Securities and Exchange Commission on May 13, 2025. Forward-looking statements contained in this press release are made as of this date, and Lyell undertakes no duty to update such information except as required under applicable law.
Contact:
Ellen Rose
Senior Vice President, Communications and Investor Relations
erose@lyell.com
FAQ
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