Lyell raises $80M to push lymphoma CAR-T toward FDA filing
What's the deal? Lyell Immunopharma, a late-stage clinical company developing CAR T-cell cancer therapies, has raised approximately $80 million through a private placement of common stock. Investors include ARCH Venture Partners, Adage CapitalDealroom has a profile for this one. Try Dealroom → Management, Caligan PartnersDealroom has a profile for this one. Try Dealroom →, RTW InvestmentsDealroom has a profile for this one. Try Dealroom →, a leading mutual fund, and other new and existing institutional backers.
The terms: The South San Francisco company agreed to sell 7,428,040 shares at $10.77 each, matching its November 3 closing price. Shares jumped 32% to about $14.30 on the Nasdaq after the news.
Why now? The financing extends Lyell's cash runway into 2028, past its anticipated Biologics License Application for ronde-cel in the second half of 2027.
What's the endgame? Ronde-cel is a dual-targeting CD19/CD20 CAR T-cell candidate for relapsed or refractory large B-cell lymphoma. Lyell will present pivotal trial data at the American Society of Hematology meeting in December 2026, with a full dataset expected mid-2027. The therapy has received Regenerative Medicine Advanced Therapy and Fast Track designations from the US Food and Drug Administration.
What else? The company is also advancing LYL273, a CAR T-cell candidate for metastatic colorectal cancer, with additional data and a planned end-of-Phase 1 FDA meeting due in 2027.
"This financing strengthens our financial position and supports the execution of our strategy as we approach several important clinical and regulatory milestones," said Smital Shah, chief financial and business officer.
The signal: At roughly $80 million, the round lands near the top third of comparable raises, signalling steady institutional appetite for late-stage cell therapies targeting blood cancers as Lyell closes in on its first regulatory filing.
Read more: markets.financialcontent.com
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