Lyell acquires exclusive global rights to CAR T candidate LYL273 for mCRC; Phase 1 shows 67% ORR at highest dose

Lyell Immunopharma, Inc.

Upfront $40M cash + 1.9M Lyell shares; up to $820M in milestones plus tiered royalties up to 10% on US net sales.
Phase 1 at Dose Level 2 (2x10^6 cells/kg): 67% overall response rate (4/6), 83% disease control rate, median PFS 7.8 months.
Safety includes CRS (83% Grade 1-2), diarrhea (83% managed with prophylaxis), one Grade 5 event; Fast Track designated by FDA.
Lyell expects cash to fund into 2027; 2025 net cash use guided to $155-160M (excl. $40M), below prior $175-185M.
Investor webcast at 8:30 AM ET; next data update expected H1 2026.

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