--- title: "Lyell Immunopharma signs private placement of up to $100 million at $13.32" url: "https://aibio.space/news/lyell-immunopharma-signs-private-placement-up-100-million-13-32-share/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-07-25" section: "Financings" tickers: "NASDAQ:LYEL" source: "https://www.sec.gov/Archives/edgar/data/1806952/000119312525164853/d24368dex991.htm" summary: "Lyell's private placement starts with about $50 million at $13.32 per share. A second $50 million at $25.61 per share depends on a milestone within 12 mont" --- By the aibio.space news desk. Sources - [Lyell Immunopharma, Inc. 8-K (2025-07-25)](https://www.sec.gov/Archives/edgar/data/1806952/000119312525164853/d24368dex991.htm) - [Lyell Immunopharma, Inc. 424B5 (2025-07-31)](https://www.sec.gov/Archives/edgar/data/1806952/000119312525170528/d93614d424b5.htm) [LYEL](https://aibio.space/companies/lyell-immunopharma/) 2025-07-25 # Lyell Immunopharma signs private placement of up to $100 million at $13.32 per share Tickers [LYEL](https://aibio.space/companies/lyell-immunopharma/) Lyell's private placement starts with about $50 million at $13.32 per share. A second $50 million at $25.61 per share depends on a milestone within 12 months. ## Key facts - **Company**: Lyell Immunopharma, Inc. (NASDAQ: LYEL) - **News type**: Financings - **Primary source**: [Lyell Immunopharma, Inc. 8-K (2025-07-25)](https://www.sec.gov/Archives/edgar/data/1806952/000119312525164853/d24368dex991.htm) *An empty boardroom with a long table. CC0, via rawpixel. The picture shows the field, not the companies named.* Lyell Immunopharma, Inc. (Nasdaq: [LYEL](https://aibio.space/companies/lyell-immunopharma/)) said on July 25, 2025 that it signed a securities purchase agreement for a private placement with institutional and other accredited investors, with gross proceeds of up to approximately $100 million. The initial closing covers approximately $50 million of common stock at $13.32 per share, and was anticipated on or about July 25, 2025, subject to customary closing conditions. The release does not name a placement agent or counsel for the deal. ### The second tranche depends on a milestone Lyell has the right, but not the obligation, to require investors to buy approximately $50 million more of common stock or pre-funded warrants at a later Milestone Closing. That right depends on achieving, within 12 months after the initial closing, a clinical milestone relating to the LYL314 PiNACLE pivotal trial or certain other corporate milestones. The price at the Milestone Closing is $25.61 per share, unless the closing price the day before is below $10.41. In that case the price is $10.41 per share, and Lyell can choose not to proceed. Each investor also has the right, but not the obligation, to buy the same dollar amount early, at any time before the Milestone Closing, at $30.73 per share. That early price is above the $25.61 milestone price. The early-call right lasts until the later of 12 months after the initial closing and 40 days after the investors receive notice of a milestone event. The shares were not registered under the Securities Act. The investors received customary resale Form S-3 registration rights for the shares issued to them. ### What the money is for Lyell plans to use the net proceeds, with its existing cash, cash equivalents and marketable securities, to fund two pivotal-stage clinical trials of LYL314 and for working capital and other general corporate purposes. It expects those balances to meet its needs into mid-2027. That runway includes expected data from the LYL314 PiNACLE pivotal trial, on which Lyell intends to submit a Biologics License Application later in 2027 for patients with large B-cell lymphoma relapsed or refractory to two or more prior lines of therapy. The release gives no cash balance, so the runway cannot be checked against a reported figure in the release. It also does not say how much of the planned spending the milestone tranche is expected to cover. The release says the funds should also carry Lyell through a clinical data update from LYL314 at the end of 2025, the start of a Phase 3 randomized trial of LYL314 in second-line large B-cell lymphoma, and a clinical trial of an internally developed, fully armed CAR T-cell candidate for an undisclosed solid tumor. ### The pipeline and the 2025 share issue Lyell's 2024 annual report, filed March 11, 2025, describes it as a clinical-stage cell therapy company expecting to enter pivotal trials in 2025. The report calls IMPT-314, a dual-targeting CD19/CD20 CAR T-cell candidate, its lead program, under evaluation for aggressive large B-cell lymphoma. The report says the candidate is designed to increase complete response rates and prolong the duration of response compared with approved CD19-targeted CAR T-cell therapies. That is a design goal stated by the company, not a trial result. The release calls the lead program LYL314. Lyell's later prospectus supplement says LYL314 was formerly IMPT-314. The release describes the PiNACLE pivotal trial as an ongoing single-arm trial, so it has no randomized comparison group. Lyell's pipeline includes next-generation solid tumor candidates that the annual report says are enhanced with anti-exhaustion and additional arming technologies. Separately, Lyell issued 625,000 shares of common stock on July 2, 2025 to the selling stockholders of ImmPACT Bio when a merger milestone was reached. The shares were issued as additional consideration under the merger agreement dated October 24, 2024. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LYEL Lyell Immunopharma, Inc. 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Cite as: aibio.space, "Lyell Immunopharma signs private placement of up to $100 million at $13.32", 2025-07-25, https://aibio.space/news/lyell-immunopharma-signs-private-placement-up-100-million-13-32-share/