Exhibit 10.2 SEPARATION AGREEMENT AND MUTUAL RELEASE This Separation Agreement and Mutual Release (“Agreement”) is made by and between Ron Oyston (“Employee”) and ACELYRIN, INC. (the “Company”) (collectively referred to as the “Parties” or individually referred to as a “Party”). RECITALS WHEREAS, Employee was employed by the Company as Chief People Officer; WHEREAS, Employee signed a Proprietary Information and Inventions Assignment Agreement with the Company (the “Confidentiality Agreement”); WHEREAS, the ...