Lyell Immunopharma Agrees To Acquire Privately-owned Clinical-stage Biotechnology Company ImmPACT Bio;
Portfolio Pulse from Benzinga Newsdesk
Lyell Immunopharma plans to acquire ImmPACT Bio, a clinical-stage biotechnology company. The deal involves $30 million in cash and 37.5 million shares of Lyell stock. The acquisition is expected to close in Q4 2024, with Lyell's cash balance funding operations into 2027.
October 24, 2024 | 8:02 pm
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Lyell Immunopharma is acquiring ImmPACT Bio for $30 million in cash and 37.5 million shares. The acquisition is expected to close in Q4 2024, potentially impacting Lyell's stock price and operations funding through 2027.
The acquisition of ImmPACT Bio by Lyell Immunopharma involves a significant cash and stock transaction, which is likely to affect Lyell's stock price positively in the short term due to the strategic expansion and extended funding for operations. The unanimous board approval and expected closing in Q4 2024 add certainty to the deal.
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