Lyell Immunopharma Sells $80 Million Of Stock At $10.77 A Share To Fund Ronde-Cel
The CAR T developer's private placement is expected to carry its cash into 2028, with ARCH Venture Partners and RTW Investments among the buyers.
Lyell Immunopharma, which develops CAR T-cell cancer therapies, agreed Tuesday to sell 7,428,040 shares at $10.77 each to institutional investors, for expected gross proceeds of about $80.0 million before expenses. The company disclosed the private placement in an 8-K filed Wednesday.
Who is buying, and the terms
The buyers are institutional accredited investors. Lyell's press release names ARCH Venture Partners, Adage Capital Management, Caligan Partners, RTW Investments and a mutual fund, alongside other new and existing institutional investors.
Closing is scheduled for on or about Wednesday. Because the shares are sold privately, they carry restrictive legends, and Lyell agreed to file a registration statement with the SEC within 30 days after closing so the buyers can resell them. Certain cash penalties apply to the company if registration fails.
Cash into 2028 for ronde-cel
Lyell said the money is expected to extend its cash runway into 2028 and pay for clinical and regulatory milestones for ronde-cel, its lead candidate for relapsed or refractory large B-cell lymphoma. The release ties the raise to a planned submission of an FDA approval application.
Ronde-cel is a CAR T-cell therapy, which engineers a patient's own immune cells to attack tumors, aimed at two targets on cancer cells, CD19 and CD20. It is in a pivotal single-arm trial and in a Phase 3 head-to-head trial in lymphoma, according to the company's annual report for 2025. Lyell also has LYL273, in an early-stage trial for metastatic colorectal cancer, and runs its own manufacturing facility for trial product. It has no approved products.
December data update
Lyell expects to present more data from its PiNACLE pivotal trial at the American Society of Hematology meeting in December 2026, with the full dataset anticipated in mid-2027.
Investors in the placement will pay $10.77 a share, the price at which the company said it set the deal.
Sources
- 8-K Filing — Lyell Immunopharma, Inc. (LYEL) — SEC EDGAR
- Lyell Immunopharma Announces $80 Million Private Placement — globenewswire.com
