Lyell Immunopharma Announces up to $100 Million Equity Private Placement

Core Viewpoint - Lyell Immunopharma, Inc. has announced a private placement agreement for gross proceeds of up to approximately $100 million to advance its CAR T-cell therapies for cancer patients [1] Group 1: Private Placement Details - The initial closing of approximately $50 million of common stock is expected to occur at a price of $13.32 per share [2] - The company has the option to require investors to purchase an additional $50 million of common stock or pre-funded warrants upon achieving specific clinical or corporate milestones within 12 months [3] - Investors can also purchase the same dollar amount of common stock at a price of $30.73 before the Milestone Closing [4] Group 2: Ownership and Securities - If an investor's purchase would result in owning more than 19.99% of Lyell's shares, they will instead buy pre-funded warrants at a price equivalent to the common stock [5] - The securities are being offered in a private transaction and have not been registered under the Securities Act, limiting their resale in the U.S. [7] Group 3: Use of Proceeds - Net proceeds from the private placement will be used to fund pivotal-stage clinical trials of LYL314 and for general corporate purposes [6] - The funding is expected to support operations into mid-2027, including a Biologics License Application for LYL314 targeting large B-cell lymphoma [6] Group 4: Company Overview - Lyell Immunopharma is focused on next-generation CAR T-cell therapies for hematologic malignancies and solid tumors [9] - The lead product candidate, LYL314, is designed to improve response rates compared to existing therapies for large B-cell lymphoma [10]