Celyad
Celyad Oncology SA is a Belgian former clinical-stage CAR-T cell therapy company that has discontinued all R&D and now operates as an IP-monetization vehicle, divesting assets (Cellistic, CellProthera) and licensing its residual NKG2D and shRNA patent estate to generate cash.
- Company typePublic
- Founded2007
- HeadquartersMont-saint-guibert, Belgium
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Celyad does
Celyad Oncology SA (formerly Celyad SA) is a Belgian clinical-stage biotechnology company, founded in 2007 and headquartered in Mont-Saint-Guibert, Belgium, that historically developed autologous and allogeneic CAR-T cell therapies for hematologic malignancies and solid tumors. Its core technology platform combined an NKG2D-based chimeric antigen receptor with a proprietary short hairpin RNA (shRNA) multiplexing system designed to enhance CAR-T persistence, safety, and allogeneic compatibility. The company previously advanced candidates including CYAD-01 (autologous NKG2D CAR-T), CYAD-02 (TIM-3 knock-out variant), CYAD-101 (allogeneic NKG2D CAR-T in colorectal cancer), CYAD-211 (BCMA-targeting allogeneic CAR-T), and CYAD-203 (IL-18-armored candidate).
Following strategic reviews in 2022 and 2024, Celyad discontinued all clinical development and pivoted to a "Celyad 2.0" IP-monetization model. The business model now consists of (i) divestiture of operating assets (GMP manufacturing sold to Cellistic for €6M in 2022; research facility sold for €3M in 2025; C-CATHez catheter business sold to CellProthera for up to €5M plus royalties in 2026), and (ii) licensing and royalty arrangements derived from its residual patent estate (12+ US patents covering NKG2D, shRNA, and cell-therapy manufacturing). The company has no product revenue, a minimal core team, and a going-concern qualification issued by auditor BDO. Cash and equivalents stood at €1.7M at December 2025, with operations funded through small private placements primarily from Fortress Investment Group affiliates, which now control 60.52% of shares and 68.75% of voting rights. Shares trade on Euronext Brussels and Euronext Paris following a July 2023 delisting from Nasdaq.
Celyad firmographics
Firmographics- Name
- Celyad
- Legal name
- Celyad Oncology SA
- Website
- https://celyad.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Celyad Oncology SA is a Belgian former clinical-stage CAR-T cell therapy company that has discontinued all R&D and now operates as an IP-monetization vehicle, divesting assets (Cellistic, CellProthera) and licensing its residual NKG2D and shRNA patent estate to generate cash.
- Ownership category
- akta.pro rank
Where Celyad is headquartered
LocationHeadquarters
- HQ city
- Mont-saint-guibert
- HQ country
- Belgium
- HQ region
- Europe
Offices1 record
Markets served
Celyad business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations
Revenue model
- IP Licensing and Partnership Agreements: The company generates no current revenue but is actively pursuing out-licensing deals for its CAR T-cell technology platforms and intellectual property portfolio. Discussions with potential partners for selected out-licensing of technologies are ongoing.
- Asset Sales: Sale of non-core assets including the research facility (€3 million) and C-CATHez catheter technology (up to €5 million in milestone-based payments plus royalties). These are one-time transactions to extend cash runway.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Celyad product offering
Product offeringCore offering
No core offering details are evidenced in the provided input beyond the company name "Celyad".
Product overview
Celyad Oncology is a biotechnology company that has developed proprietary technology platforms for CAR T-cell therapies. The company's core offerings include its shRNA multiplexing technology platform enabling non-gene edited allogeneic CAR T development, and its NKG2D-based CAR T-cell platform for multi-specific targeting. Historically, the company developed several clinical candidates including CYAD-01, CYAD-101, CYAD-211, CYAD-02, and CYAD-203, all of which have been discontinued. Celyad has also sold its C-CATHez transendocardial catheter to CellProthera. As of 2025, the company has discontinued R&D activities and is focusing on IP management and out-licensing of its technology platforms.
Differentiator
Problem solved
Functional benefit
Brands
- C-CATHez: Transendocardial catheter technology for cardiac cell therapy delivery
- shRNA platform
- NKG2D-based CAR T-cell platform
Products and services
- No products or services are evidenced in the provided input. No product or service description is evidenced in the provided input.
Quantifiable outcome
- shRNA multiplexing enables simultaneous knockdown of up to four target genes
- +3 more outcomes
Companies that use Celyad
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles1 record
Celyad technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Celyad partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- CellProtheracoreCellProthera acquired full intellectual property rights to Celyad Oncology's C-CATHez transendocardial catheter for up to €5 million in milestone-based payments plus future royalties on net sales. The catheter will be used for targeted delivery of stem cells in CellProthera's Phase 3 clinical trials for cardiac tissue regeneration.
- CellisticcoreCellistic, the cell therapy development and manufacturing business of Ncardia BV, acquired Celyad Oncology's GMP grade cell therapy manufacturing business unit including the facility and personnel for €6 million. The 11,000 square foot facility was transferred and more than 30 manufacturing personnel joined Cellistic.
- MSD (Merck & Co.)minorMSD collaborated with Celyad Oncology on the CYAD-101-002 (KEYNOTE-B79) Phase 1b trial evaluating TIM-based allogeneic NKG2D CAR T-cell therapy with KEYTRUDA (pembrolizumab) in patients with metastatic colorectal cancer. The trial was placed on clinical hold following two fatalities.
Scale indicators8 records
Recent moves9 records
Expansion highlights2 records
Celyad competitors and assessment
Company assessmentDirect peers
- Allogene Therapeutics: Allogene is a leading clinical-stage allogeneic CAR T-cell therapy company developing off-the-shelf cell therapies for hematological malignancies and solid tumors. It is the most direct allogeneic CAR T platform peer to Celyad's NKG2D and shRNA-based allogeneic programs.
- Cellectis: Cellectis develops gene-edited allogeneic CAR T-cell therapies (UCART platform) using TALEN-based gene editing. It is a direct peer to Celyad's allogeneic platform efforts, with comparable engineering approaches to address GvHD and host-versus-graft rejection.
- Precision BioSciences: Precision BioSciences develops allogeneic CAR T-cell therapies using its proprietary ARCUS gene editing platform. Highly comparable to Celyad's gene-modification approach to allogeneic CAR T, and notably was co-founded by Celyad's current CEO Matt Kane.
- Caribou Biosciences: Caribou Biosciences develops allogeneic CAR T-cell therapies using CRISPR-based gene editing (Cas12a chRDNA platform). Direct peer in the allogeneic CAR T space with comparable IP-licensing and platform-partnership business model dynamics.
- Adaptimmune Therapeutics: Adaptimmune develops engineered T-cell receptor (TCR) therapies for solid tumors. Comparable to Celyad's autologous and allogeneic cell therapy approach for oncology, with overlapping scientific leadership in receptor-engineered cell therapies.
- Iovance Biotherapeutics: Iovance is a leading cell therapy company commercializing tumor-infiltrating lymphocyte (TIL) therapies. Peer in the broader cell therapy oncology space, illustrating what successful commercialization of a cell therapy platform looks like — a benchmark Celyad is no longer pursuing.
- Atara Biotherapeutics: Atara develops allogeneic T-cell and CAR T immunotherapies for solid tumors and hematologic malignancies. Direct peer in the allogeneic T-cell platform space, and a useful comparable for the strategic challenges of monetizing an allogeneic cell therapy platform.
Broad incumbents
- CRISPR Therapeutics: CRISPR Therapeutics is a leading gene editing company developing CRISPR/Cas9-based therapies including allogeneic CAR T candidates (e.g., CTX112). As a much larger and broader platform player, it represents a well-funded incumbent competing for the same allogeneic CAR T market.
Emerging players
- Tmunity Therapeutics: Tmunity is a clinical-stage cell therapy company developing next-generation engineered T-cell therapies including CAR T programs. It is an emerging player with overlapping technology and indication focus relative to Celyad's NKG2D platform.
Others
- Celdara Medical: Celdara Medical is a biotech studio and the originating licensor of certain allogeneic cell therapy IP that Celyad in-licensed from Dartmouth. It is a relevant ecosystem participant given its contingent consideration arrangement and the in-licensed IP estate underpinning Celyad's platforms.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat2 records
Key risks7 records
Key highlights6 records
Customer concentration
Celyad social profiles
Digital presenceCelyad financial estimates
Financial estimateRevenue estimate
Valuation estimate
Celyad leadership team
Management profileNumber of profiles
Profiles1 record
Celyad funding detail
Funding detailFunding overview
Funding rounds10 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Celyad M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Celyad
What does Celyad do?
No core offering details are evidenced in the provided input beyond the company name "Celyad".
Is Celyad a public or private company?
Celyad is a public company. It is classified as unknown and is currently operating.
When was Celyad founded?
Celyad was founded in 2007. It employs 11 to 50 people.
Where is Celyad based?
Celyad is headquartered in Mont-saint-guibert, Belgium, in the Europe region.
How does Celyad make money?
Two revenue lines are on record. IP Licensing and Partnership Agreements are the primary driver. The others are asset Sales.
Who are Celyad's main competitors?
Direct peers on record are Allogene Therapeutics, Cellectis, Precision BioSciences, Caribou Biosciences, Adaptimmune Therapeutics, Iovance Biotherapeutics and Atara Biotherapeutics. CRISPR Therapeutics is listed as a broad incumbent. Tmunity Therapeutics is listed as an emerging player. Celdara Medical is listed as an others.
Does Celyad have an API?
No public API is recorded for Celyad.