Lyell to acquire ImmPACT Bio for $30M cash + 37.5M shares; discontinues LYL797, LYL845

Lyell Immunopharma, Inc.

Upfront consideration: $30M cash (adjusted for ImmPACT's ~$16M cash) and 37.5M Lyell shares.
Contingent consideration: up to 12.5M additional shares on clinical/regulatory milestone + low single-digit US royalty on IMPT-314.
Pipeline prioritization: discontinuation of LYL797 (ROR1 CAR T), LYL845 (TIL), and preclinical TIL programs.
Focus on IMPT-314 (dual CD19/20 CAR T) and LYL119 (next-gen ROR1 CAR T); pivotal trial for IMPT-314 expected 2025.
Cash runway post-close into 2027; transaction expected to close Q4 2024 subject to HSR clearance.

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