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$320 Million

Instil Bio, Inc.

Initial Public Offering

Bookrunner, March 2021

Instil Bio, Inc.

Instil Bio, Inc. (“Instil Bio” or the “Company”) is clinical-stage cell therapy company developing a pipeline of autologous tumor infiltrating lymphocyte (TIL) therapies for cancer. The Company aims to address the limitations of existing TIL manufacturing approaches through its optimized, fully-controlled internal manufacturing process, which is comprised of three steps: 1) tumor processing, which includes tissue harvesting and cryopreservation, 2) TIL generation, which includes the outgrowth and rapid expansion phases, and 3) final product testing, which includes formulation and cryopreservation. The Company’s lead product candidate, ITIL-168, is being evaluated for the treatment of advanced melanoma.