Lyellbiotech
Public · 2 known investors
Lyell Immunopharma is a Nasdaq-listed cell therapy developer engineering T cell therapies for solid tumors and blood cancers.
Also known as LYEL · Lyell · Lyell Immunopharma · Lyell Immunopharma, Inc.
Investors · 2
Also in the syndicate · 1
Company profile
researched Aug 2026Lyell Immunopharma is a clinical-stage biopharmaceutical company developing engineered T cell therapies for cancer. Its scientific approach centers on two complementary genetic reprogramming technologies intended to improve T cell function and durability: one addressing T cell "exhaustion", which its founders identified as more prevalent in solid tumors, and another conferring "stemness", the ability of T cells to self-renew and proliferate. The company has applied these technologies across multiple cell therapy modalities, including CAR T therapies and tumor-infiltrating lymphocyte (TIL) approaches, targeting solid tumors such as non-small cell lung cancer and triple-negative breast cancer.
Following its 2024 acquisition of ImmPACT Bio, Lyell's pipeline includes IMPT-314, a dual-targeting CD19/20 CAR T cell candidate for hematologic malignancies including B-cell non-Hodgkin's lymphoma, evaluated in a Phase 1/2 trial in relapsed/refractory aggressive large B-cell lymphoma. As of March 2025 the company said it expected to initiate two pivotal clinical programs for IMPT-314, one in mid-2025 and another by early 2026. Lyell operates the LyFE manufacturing center in Bothell, Washington, which received FDA clearance of an Investigational New Drug Comparability Protocol and is intended to support ongoing and future pivotal trials and potential commercial launch.
Founding story
Lyell was formed with involvement from two Juno Therapeutics co-founders, Rick Klausner, a former director of the National Cancer Institute, and Stan Riddell, whose research contributed to the Juno-originated CAR T therapy Breyanzi.
Business model
Lyell is a clinical-stage drug developer that funds research and development through capital markets and partnerships rather than product revenue; it operates its own manufacturing capacity (the LyFE center in Bothell, Washington) for its cell therapy candidates.
Traction
Lyell had 300 employees as of December 31, 2024, reducing to roughly 225 after the 2025 layoffs. IMPT-314 is in a Phase 1/2 trial in relapsed/refractory aggressive large B-cell lymphoma, with data expected in mid-2025 and two pivotal programs planned starting mid-2025 and by early 2026. The Bothell manufacturing site received FDA clearance of an IND Comparability Protocol.
Latest developments
In April 2025 Lyell disclosed the closure of its West Hills, Los Angeles manufacturing facility and elimination of approximately 73 positions effective June 2, 2025, after transferring IMPT-314 manufacturing technology to its Bothell, Washington LyFE center; associated costs were estimated at $3.0-$4.0 million. It reiterated 2025 net cash use guidance of $175-$185 million and a cash runway into 2027. Chief Business Officer Matthew Lang departed effective April 13, 2025, remaining an advisor through September 30, 2025. The company also received a Nasdaq notice of non-compliance with the $1.00 minimum bid price requirement, with a July 22, 2025 deadline to regain compliance, and was considering a reverse stock split.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Lyell is one of a number of companies attempting to extend cell therapy beyond blood cancers into solid tumors, a field that also includes Sana Biotechnology and, in TIL therapy, Iovance Biotherapeutics; its CAR T candidates compete in a market with approved products such as Breyanzi (Bristol Myers Squibb) and Kymriah (Novartis), where analysts note new entrants must demonstrate significant superiority over existing options.
Technology
Two complementary genetic reprogramming technologies applied to T cells: one countering T cell exhaustion observed in solid tumors, and one conferring durable "stemness" enabling self-renewal and expansion. These are applied across CAR T and tumor-infiltrating lymphocyte modalities. IMPT-314, obtained from ImmPACT Bio, is a dual-targeting CD19/20 CAR T cell candidate.
Go-to-market
Patients with cancer, including solid tumors such as non-small cell lung cancer and triple-negative breast cancer, and hematologic malignancies including B-cell non-Hodgkin's lymphoma and relapsed/refractory aggressive large B-cell lymphoma.
Geography
Headquartered in San Francisco, California, with a manufacturing center in Bothell, Washington. A West Hills, Los Angeles, California manufacturing facility obtained via the ImmPACT Bio acquisition was slated for closure in 2025.
History
Lyell was co-founded by former National Cancer Institute director Rick Klausner and Stan Riddell, both of whom were also involved with Juno Therapeutics; Riddell's research contributed to the Juno cell therapy Breyanzi. The company raised nearly $1 billion privately before filing to go public in May 2021, with Arch Venture Partners as its largest shareholder at roughly 17% and GlaxoSmithKline among its top investors. In 2024 Lyell acquired ImmPACT Bio, closing the deal on October 31, and in April 2025 announced closure of the acquired West Hills, Los Angeles manufacturing site with 73 job cuts as manufacturing shifted to Bothell, Washington.
Risks & controversies
The company reported net losses of $343 million in 2024 and $234.6 million in 2023 and is described as burning cash rapidly. Its shares traded below $1.00, triggering a Nasdaq minimum bid price non-compliance notice. It undertook a facility closure and workforce reduction in 2025, and faces a competitive CAR T landscape in which analysts have maintained a neutral rating with a $1.00 price target.
Compiled by commissioned research from 4 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 6
launches, deals, and filingsLyell disclosed the departure of Chief Business Officer Matthew Lang, J.D., effective April 13, 2025; he was to continue as an advisor to the company until September 30, 2025.
Lyell's board approved on March 31, 2025 the closure of the West Hills, Los Angeles manufacturing facility acquired with ImmPACT Bio and a reduction of approximately 73 employees, effective June 2, 2025 per a WARN notice. Manufacturing of IMPT-314 was transferred to the LyFE manufacturing center in Bothell, Washington. Related costs were estimated at $3.0-$4.0 million, recognized primarily in Q2 and Q3 2025.
$3.5M source ↗
The Bothell, Washington LyFE manufacturing center received FDA clearance for an Investigational New Drug Comparability Protocol, enabling it to manufacture IMPT-314 for a Phase 1/2 trial in relapsed/refractory aggressive large B-cell lymphoma.
Lyell was notified by Nasdaq of non-compliance with the minimum bid price requirement after its stock closed below $1.00 for 33 consecutive business days, with until July 22, 2025 to regain compliance; the company was exploring options including a reverse stock split.
Lyell announced the closing of its acquisition of cell therapy company ImmPACT Bio, adding the clinical-stage dual-targeting CD19/20 CAR T candidate IMPT-314 and a West Hills, Los Angeles manufacturing facility. Lyell stated the deal would strengthen its clinical-stage CAR T pipeline and accelerate development of IMPT-314.
Lyell Immunopharma outlined plans to go public, disclosing in its prospectus that it had raised nearly $1 billion while private, with Arch Venture Partners holding roughly 17% of the company and GlaxoSmithKline among its top investors.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 4
primary sources listed
- Lyell Cuts 73 Employees as Part of LA Site Closure - BioSpacebiospace.com · web
4 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Lyellbiotech do?
- Lyell Immunopharma is a Nasdaq-listed cell therapy developer engineering T cell therapies for solid tumors and blood cancers.
- Who are Lyellbiotech's investors?
- Lyellbiotech's investors include ARCH Venture Partners.