---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-273269"
form_type: "8-K"
ticker: "LYEL"
cik: "0001806952"
company_name: "Lyell Immunopharma, Inc."
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:32:28.983728+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-273269
- form_type: 8-K
- ticker: LYEL
- cik: 0001806952
- company_name: Lyell Immunopharma, Inc.
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1806952/000119312525273269/0001193125-25-273269-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1806952/000119312525273269/d57756d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-273269
- JSON: https://secwatch.observer/filing/0001193125-25-273269.json
- Plain text: https://secwatch.observer/filing/0001193125-25-273269.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.