By Sabela Ojea
Lyell Immunopharma is cutting about 73 jobs as a result of its decision to shutter a manufacturing facility it acquired as part of a deal to buy the clinical-stage company ImmPACT Bio last year.
The biotechnology company on Tuesday said that it expects to book expenses of $3 million to $4 million in the second and third quarters of this year.
The company said closure of the West Hills, Calif., facility comes as it expects its center in Bothell, Wash., to have the capacity to provide drugs for the continuing and planned pivotal trials of IMPT-314, and through a potential commercial launch of the treatment.
IMPT-314 is being evaluated in a phase 1/2 clinical trial for the treatment of relapsed/refractory large B-cell lymphoma.
The company also said that Chief Business Officer Matthew Lang has resigned and will leave his position April 13. Lang will remain an adviser to the company until Sept. 30.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 01, 2025 17:40 ET (21:40 GMT)
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