Lyell Immunopharma closes $50 million funding, names new CFO

Lyell Immunopharma Inc. (NASDAQ: LYEL) completed the sale of an additional $50 million in common stock and appointed Smital Shah as Chief Financial and Business Officer, effective March 9, 2026.

The funding represents the second tranche of a $100 million equity private placement initially announced in July 2025. The company accessed this additional capital after achieving a clinical milestone in its PiNACLE pivotal trial evaluating rondecabtagene autoleucel in patients with relapsed/refractory large B-cell lymphoma. Investors purchased shares at $25.61 per share, bringing total proceeds from the private placement to approximately $100 million.

The company stated its cash, cash equivalents and marketable securities are expected to fund operations into the second quarter of 2027.

Shah brings over two decades of biopharmaceutical industry experience to her new role. She most recently worked as an independent consultant providing strategic guidance to life sciences organizations. From 2014 to 2022, she served as Chief Business and Financial Officer at ProQR Therapeutics (NASDAQ: PRQR), overseeing business functions including finance, communications, commercial strategy, business development and legal operations.

Shah previously managed multi-billion-dollar debt, cash and investment portfolios at Gilead Sciences Inc. and worked as an investment banker at Leerink Partners and J.P. Morgan, focusing on capital raising and strategic transactions in biotechnology. She began her career in research and development roles at Johnson & Johnson.

Shah served on the Board of Directors of Pliant Therapeutics until June 2025 and as a Board Member and Chair of the Audit Committee at Graphite Bio until its merger with LENZ Therapeutics in 2024. She holds degrees in Chemical Engineering from the University of Mumbai and Virginia Tech, and an MBA in Finance from UC Berkeley's Haas School of Business.

Lyell develops CAR T-cell therapies for patients with hematologic malignancies and solid tumors.

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