<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0002111120</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Stock, $0.0001 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>03/31/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001806952</issuerCik>
        <issuerName>LYELL IMMUNOPHARMA, INC.</issuerName>
        <issuerCusips>
          <issuerCusipNumber>55083R203</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">201 HASKINS WAY</street1>
          <city xmlns="http://www.sec.gov/edgar/common">SOUTH SAN FRANCISCO</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">CA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">94080</zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>MWG Caph Ltd</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>U7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1008116</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>1008116</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1008116</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.3</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>The percentage is calculated based on 23,328,390 shares of common stock, $0.0001 par value per share, of the Issuer ("Common Stock"), reported to be outstanding in the Issuer's Form DEF 14A filed with the Securities and Exchange Commission on April 24, 2026.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Milky Way Investments Group Ltd.</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>D8</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1008116</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>1008116</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1008116</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.3</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>The percentage is calculated based on 23,328,390 shares of Common Stock reported to be outstanding in the Issuer's Form DEF 14A filed with the Securities and Exchange Commission on April 24, 2026.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>LYELL IMMUNOPHARMA, INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>201 Haskins Way, South San Francisco, California</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of:
i.      MWG Caph Ltd
ii.     Milky Way Investments Group Ltd

Milky Way Investments Group Ltd is controlled by MWG Caph Ltd, its corporate director, which replaced MWG Management Limited as corporate director.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address of the principal business office of MWG Caph Ltd is Morton House, Government Road, PO Box 583, Charlestown, Saint Kitts and Nevis, NEV 0001.

The address of the principal business office of Milky Way Investments Group Ltd is C/O Trident Trust Company (B.V.I.), Ltd., Trident Chambers, P.O. BOX 146, Road Town, Tortola, Virgin Islands, British, VG1110.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>See Item 4 of the cover page for each Reporting Person.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See Items 5-11 of the cover page for each Reporting Person.</amountBeneficiallyOwned>
        <classPercent>See Items 5-11 of the cover page for each Reporting Person.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Items 5-11 of the cover page for each Reporting Person.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Items 5-11 of the cover page for each Reporting Person.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Items 5-11 of the cover page for each Reporting Person.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Items 5-11 of the cover page for each Reporting Person.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>Y</notApplicableFlag>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>MWG Caph Ltd</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Nicholas Lane</signature>
        <title>Nicholas Lane/Director</title>
        <date>05/11/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Milky Way Investments Group Ltd.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Despoina Zinonos</signature>
        <title>Despoina Zinonos/President</title>
        <date>05/11/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
