Lyell Immunopharma Enters Agreement to Acquire ImmPACT Bio USA Inc.

On October 24, 2024, Lyell Immunopharma, Inc. announced its entry into an Agreement and Plan of Merger with ImmPACT Bio USA Inc., Inspire Merger Sub Inc., and WT Representative LLC. This merger agreement entails Lyell Immunopharma acquiring ImmPACT in a transaction involving an upfront payment of $30,000,000 in cash and 37,500,000 shares of Lyell’s common stock. Additional contingent consideration includes equity consideration of 12,500,000 shares of Company Common Stock and a low single-digit royalty on future net sales of the dual-targeting CD19/20 CAR T-cell product, all subject to certain conditions.

The Merger Agreement between Lyell Immunopharma and ImmPACT includes various obligations and conditions, including customary representations, warranties, and covenants. These include conducting business as usual until the Merger is completed and refraining from certain actions outlined in the agreement. The merger is contingent upon several factors, such as obtaining ImmPACT stockholder approval and satisfying regulatory approvals.

As part of the prioritization post-acquisition, Lyell will focus on its most differentiated CAR T-cell clinical programs, notably IMPT-314 and LYL119. Consequently, the company will discontinue the development of LYL797, LYL845, and other TIL programs. This refocusing aims to direct resources towards advancing next-generation CAR T-cell therapies for enhanced clinical outcomes.

The Company is expected to expand its pipeline with the acquisition of ImmPACT’s assets, leading to a strengthened portfolio of CAR T-cell therapies. Lyell plans to advance IMPT-314, a dual-targeting CD19/CD20 CAR T-cell product candidate designed to exhibit improved efficacy over existing therapies. Following the acquisition, the company anticipates a more robust financial position that will sustain operations until 2027, incorporating pivotal trials for IMPT-314 and other programs.

Lyell’s management hosted an investor conference call on the merger and pipeline priorities, emphasizing the potential benefits of combining their expertise and technologies. The company’s vision is to offer durable clinical benefits to cancer patients through innovative cell therapies. The acquisition is set for completion by the fourth quarter of 2024, subject to customary closing conditions.

This report on the agreement and prioritization by Lyell Immunopharma comes amid a strategic move to bolster its CAR T-cell therapies and strengthen its position in the biotechnology sector. The company remains committed to advancing groundbreaking treatments for both solid tumors and hematologic malignancies, aiming to achieve enduring clinical success in the oncology space.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lyell Immunopharma’s 8K filing here.

Lyell Immunopharma Company Profile

Lyell Immunopharma, Inc, a clinical-stage cell therapy company, develops T cell reprogramming technologies for patients with solid tumors. The company develops therapies using an ex vivo genetic reprogramming technologies, such as c Jun overexpression and NR4A3 gene knockout, to endow resistance to T cell exhaustion; and an ex vivo epigenetic reprogramming technologies, including Epi R to generate population of T cells with durable stemness, and Stim R, a proprietary synthetic cell mimetic.