--- title: "Lyell Immunopharma licenses LYL273 CAR T candidate for $40 million and 1.9" url: "https://aibio.space/news/lyell-immunopharma-licenses-lyl273-car-t-candidate-40-million-1-9/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-11-10" section: "Financings" tickers: "NASDAQ:LYEL" source: "https://www.sec.gov/Archives/edgar/data/1806952/000119312525273269/d57756d8k.htm" summary: "Lyell Immunopharma agreed to pay $40 million in cash and issue 1.9 million shares for exclusive rights to LYL273, a CAR T candidate for colorectal cancer t" --- By the aibio.space news desk. Sources - [Lyell Immunopharma, Inc. Form 8-K filed November 10, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1806952/000119312525273269/d57756d8k.htm) - [Lyell Immunopharma, Inc. exhibit d57756dex991.htm to the November 10, 2025 Form 8-K (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1806952/000119312525273269/d57756dex991.htm) - [Lyell Immunopharma, Inc. Form 10-K filed March 11, 2025: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1806952/000162828025011978/lyel-20241231.htm) [LYEL](https://aibio.space/companies/lyell-immunopharma/) 2025-11-10 # Lyell Immunopharma licenses LYL273 CAR T candidate for $40 million and 1.9 million shares Tickers [LYEL](https://aibio.space/companies/lyell-immunopharma/) Lyell Immunopharma agreed to pay $40 million in cash and issue 1.9 million shares for exclusive rights to LYL273, a CAR T candidate for colorectal cancer that has been tested in 12 patients. The deal also carries more shares, large milestone payments and tiered royalties, and the company says its cash lasts into 2027 once it closes. ## Key facts - **Company**: Lyell Immunopharma, Inc. (NASDAQ: LYEL) - **News type**: Financings - **Primary source**: [Lyell Immunopharma, Inc. Form 8-K filed November 10, 2025 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1806952/000119312525273269/d57756d8k.htm) *Planning on a whiteboard. Photo: Startup Stock Photos, CC0, via StockSnap. The picture shows the field, not the companies named.* Lyell Immunopharma, Inc. (Nasdaq: [LYEL](https://aibio.space/companies/lyell-immunopharma/)) entered into an exclusive license agreement on November 6, 2025 for LYL273, a CAR T-cell product candidate for metastatic colorectal cancer. The licensors are Innovative Cellular Therapeutics Holdings Limited and Innovative Cellular Therapeutics, Inc., which the 8-K calls the ICT Group. Lyell disclosed the agreement in a [Form 8-K filed November 10, 2025](https://www.sec.gov/Archives/edgar/data/1806952/000119312525273269/d57756d8k.htm), which describes the upfront payment and the shares. ## Terms of the license The ICT Group granted Lyell an exclusive license to research, develop, manufacture and commercialize the candidates worldwide, except in mainland China, Taiwan, Macau and Hong Kong. Lyell will pay $40 million in cash and issue 1.9 million shares of common stock to ICT Holdings. The 8-K also lists a potential $30 million clinical milestone, up to $115 million for late-stage regulatory milestones, up to $675 million in commercial sales milestones, and up to an additional 1.85 million shares on clinical and regulatory milestones. Royalties are tiered, from mid-single digits up to 10% on net sales in the United States, and low to mid-single digits elsewhere in the licensed territory. The two sides also signed a registration rights agreement under which Lyell must file shelf registration statements so ICT Holdings can resell the shares. The 8-K reports the shares under Item 3.02 as an unregistered sale, made under Section 4(a)(2) of the Securities Act without a public offering or general solicitation. ## The trial data behind it The press release reports Phase 1 data from 12 patients treated in a U.S. trial, with an October 28, 2025 data cutoff. Six patients received the lower dose and six the higher dose. Across both doses, the overall response rate was 50%, or 6 of 12 patients, and the disease control rate was 83%. At the higher dose, the overall response rate was 67%, or 4 of 6, and median progression-free survival was 7.8 months. The same release says treatment-related adverse events were more frequent and more severe at the higher dose. Cytokine release syndrome occurred in 5 of 6 patients there, and neurotoxicity in 2 of 6. One patient had a dose-limiting toxicity of Grade 3 diarrhea and Grade 4 enterocolitis and died of fungal sepsis 48 days after infusion. The release calls the safety profile "manageable" at the highest dose studied. It also says no Grade 3 or higher diarrhea has occurred in the last three patients treated under an optimized protocol. The 67% response rate rests on four responses among six patients. The release does not give confidence intervals. An earlier investigator-sponsored study in China, with 15 patients, was published in JAMA Oncology in September 2024, and the FDA granted LYL273 Fast Track designation for colorectal cancer. The next data update is expected in the first half of 2026. ## What Lyell says about its cash Lyell says that after the transaction closes it expects cash to fund operations into 2027. That outlook depends on updates from its rondecabtagene autoleucel (ronde-cel) program in large B-cell lymphoma and more LYL273 data. The release also cuts the company's 2025 net cash use guidance to between $155 million and $160 million, excluding the $40 million upfront payment, from an earlier range of $175 million to $185 million. The 8-K does not say when the $40 million will be paid or when the shares will be issued. It also does not say whether the transaction has closed, only that the agreement took effect on November 6, 2025. ## Who is named Lynn Seely, M.D., president and chief executive officer, signed the 8-K and is quoted in the release. Benjamin L. Schlechter, M.D., of the Dana-Farber Cancer Institute, is lead investigator on the Phase 1 trial. The 8-K names no placement agent or underwriter; the shares go to the licensor. Skadden, Arps, Slate, Meagher & Flom LLP is Lyell's legal counsel on the transaction. ## What the filings leave out The data are from 12 patients in an ongoing trial, and the filings give no comparison with other therapies for colorectal cancer. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LYEL Lyell Immunopharma, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/lyell-immunopharma-licenses-lyl273-car-t-candidate-40-million-1-9/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Lyell Immunopharma licenses LYL273 CAR T candidate for $40 million and 1.9", 2025-11-10, https://aibio.space/news/lyell-immunopharma-licenses-lyl273-car-t-candidate-40-million-1-9/