Lyell Immunopharma is discontinuing several programs and acquiring CAR-T biotech ImmPACT Bio and its suite of clinical-stage candidates for $30 million in upfront cash and 37.5 million shares of Lyell’s stock.
As part of the deal, which is expected to close this year, Lyell said Thursday that it will add ImmPACT’s lead program — IMPT-314 — to its portfolio. Its stock $LYEL was down about 17% on Friday morning.
Charlie NewtonIMPT-314 is a CD19/20 CAR-T candidate that’s being tested in hematologic malignancies, including large B cell lymphoma. According to Lyell CFO Charlie Newton, the company acquired ImmPACT “primarily” for IMPT-314’s opportunity in hematologic malignancies. The company plans to start a pivotal trial next year for IMPT-314 in third-line patients who have not yet been treated with a CAR-T cell therapy and also investigate its potential in autoimmune indications.
During an investor call on Thursday, Lyell president and CEO Lynn Seely touted IMPT-314’s complete response rates and duration of response data from an ongoing Phase 1/2 trial, noting that IMPT-314 “has the potential to take significant market share in the second and third line.”
With a fresh focus on CAR-T, Lyell is also cutting several in-house programs, including LYL797, its ROR1-targeted CAR-T candidate; and LYL845, its tumor-infiltrating lymphocyte (TIL) program. The company’s preclinical “TIL and rejuvenation programs” will also be abandoned.
Instead, it will continue a Phase 1 trial of its ROR1-targeted CAR-T candidate, dubbed LYL119. That study is expected to start enrolling patients with platinum-resistant ovarian cancer or relapsed/refractory endometrial cancer this year or in early 2025.
Seely said the company has funds to get into 2027 and through data milestones for each program.