Lyell Immunopharma Completes Acquisition of ImmPACT Bio
31 Ottobre 2024 - 9:00PM
Lyell Immunopharma, Inc. (Nasdaq: LYEL), a clinical-stage
T-cell reprogramming company advancing a pipeline of
next-generation CAR T-cell therapies for patients with solid tumors
or hematologic malignancies, announced today that it has completed
its acquisition of ImmPACT Bio USA Inc. (“ImmPACT”), a
privately-owned clinical-stage cell therapy company. The
acquisition strengthens Lyell’s clinical-stage pipeline of CAR
T-cell therapies and complements its suite of innovative
technologies designed to generate longer-lasting, functional T
cells to achieve more durable outcomes for patients. Lyell will
accelerate the development of IMPT-314, a dual-targeting CD19/20
chimeric antigen receptor (CAR) T-cell product candidate for
hematologic malignancies, including B-cell non-Hodgkin lymphoma. In
connection with the acquisition, Sumant Ramachandra, M.D., Ph.D.,
MBA, the former Chief Executive Officer of ImmPACT Bio, has been
appointed to the Lyell Board of Directors.
“We’re excited to welcome ImmPACT to Lyell and look forward to
working together to transform the treatment of cancer with
next-generation cell therapies that offer patients improved
outcomes,” stated Lynn Seely, M.D., Lyell’s President and Chief
Executive Officer. “We are focused on accelerating the
development of IMPT-314 for patients with aggressive B-cell
non-Hodgkin lymphoma and look forward to presenting initial data
from the Phase 1-2 trial of IMPT-314 in patients treated in the 3rd
line CAR-naïve setting at a major medical conference later this
year.”
“On behalf of my fellow directors, I am delighted to welcome Dr.
Ramachandra to the Lyell Board,” stated Rick Klausner, M.D., chair
of Lyell’s Board of Directors. “Dr. Ramachandra’s experience
and passion for developing innovative therapies for patients will
help guide us as we integrate our two organizations and advance a
pipeline of next-generation CAR T-cell therapies.”
Dr. Ramachandra has served as the Chief
Executive Officer of ImmPACT Bio USA, Inc. since November 2021. He
also served as a member of the board of directors of ImmPACT from
December 2021 to October 2024. Prior to joining ImmPACT,
Dr. Ramachandra was most recently Chief Science, Technology
and Medical Officer of Baxter International. In addition to these
responsibilities, he was appointed President of Baxter
Pharmaceuticals. Prior to Baxter, he worked at Pfizer, most
recently as Senior Vice President, Head of Research &
Development, Pfizer Essential Health. He served as Chief Scientific
Officer at Hospira from 2008 to 2015 prior to Pfizer’s acquisition
of Hospira in 2015. Before entering the industry in 2000, he was an
intern and resident physician, medical services, at Massachusetts
General Hospital, Harvard Medical School. Dr. Ramachandra
completed his undergraduate degree in biochemistry, graduate degree
(Ph.D.) in experimental pathology in the study of chronic
lymphocytic leukemia and his medical degree (M.D.) at Rutgers
University. In addition, he earned his M.B.A. at The Wharton School
at the University of Pennsylvania.
As previously disclosed, following the closing of this
acquisition, Lyell expects its cash balance will fund operations
into 2027, through important clinical milestones for each pipeline
program, including initiation of a pivotal trial for IMPT-314,
which is expected to start in 2025.
About Lyell
Lyell is a clinical-stage company advancing a
pipeline of next-generation CAR T-cell therapies for patients with
solid tumors or hematologic malignancies. Lyell’s product
candidates are enhanced with novel technology designed to generate
T cells that resist exhaustion and have qualities of durable
stemness in order to drive durable tumor cytotoxicity and achieve
consistent and long-lasting clinical response. Lyell is based in
South San Francisco, California with facilities in Seattle and
Bothell, Washington. To learn more, please visit www.lyell.com.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements expressed or implied
in this press release include, but are not limited to, statements
regarding: the anticipated benefits of the transaction; the
continued clinical progress of the IMPT-314 trials; Lyell’s
anticipated progress, business plans, business strategy and
clinical trials; Lyell’s advancement of its pipeline and its
research, development and clinical capabilities; the potential
clinical benefits and therapeutic potential of Lyell’s product
candidates; the advancement of Lyell’s technology platform; Lyell’s
expectation that its financial position and cash runway will
support advancement of its pipeline through multiple clinical
milestones into 2027; and other statements that are not historical
fact. These statements are based on Lyell’s current plans,
objectives, estimates, expectations and intentions, are not
guarantees of future performance and inherently involve significant
risks and uncertainties. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of these risks and
uncertainties, which include, but are not limited to, risks and
uncertainties related to: the inability to recognize the
anticipated benefits of the transaction; business disruption during
the pendency of or following the transaction; the effects of
macroeconomic conditions, including any geopolitical instability
and actual or perceived changes in interest rates and economic
inflation; Lyell or ImmPACT’s ability to submit planned INDs or
initiate or progress clinical trials on the anticipated timelines,
if at all; Lyell’s limited experience as a company in enrolling and
conducting clinical trials, and lack of experience in completing
clinical trials; Lyell’s ability to manufacture and supply its
product candidates for its clinical trials; the nonclinical
profiles of Lyell’s product candidates or technology not
translating in clinical trials; the potential for results from
clinical trials to differ from nonclinical, early clinical,
preliminary or expected results; significant adverse events,
toxicities or other undesirable side effects associated with
Lyell’s product candidates; the significant uncertainty associated
with Lyell’s product candidates ever receiving any regulatory
approvals; Lyell’s ability to obtain, maintain or protect
intellectual property rights related to its product candidates;
implementation of Lyell’s strategic plans for its business and
product candidates; the sufficiency of Lyell’s capital resources
and need for additional capital to achieve its goals; and other
risks, including those described under the heading “Risk Factors”
in Lyell’s Annual Report on Form 10-K for the year ended December
31, 2023, filed with the Securities and Exchange Commission (SEC)
on February 28, 2024, and the Quarterly Report on Form 10-Q for the
quarter ended June 30, 2024, filed with the SEC on August 7, 2024.
Forward-looking statements contained in this press release are made
as of this date, and Lyell undertakes no duty to update such
information except as required under applicable law.
This press release is not an offer to sell any
securities of Lyell and is not a solicitation of an offer to buy
any securities of Lyell.
Contact:Ellen RoseSenior Vice
President, Communications and Investor Relationserose@lyell.com
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