October 10, 2025 — Leads & Copy — Bristol Myers Squibb (BMS) will acquire Orbital Therapeutics for $1.5 billion in cash, pending customary closing conditions, including regulatory approval. The acquisition aims to enhance BMS’s cell therapy research platform with Orbital’s RNA medicines that reprogram the immune system in vivo. Orbital’s lead preclinical candidate, OTX-201, an RNA immunotherapy targeting CD19 for in vivo CAR expression, is included in the acquisition. BMS will also acquire Orbital’s proprietary RNA platform integrating circular and linear RNA engineering, advanced LNP delivery, and AI-driven design.
Robert Plenge, MD, PhD, of BMS, noted the potential of in vivo CAR T-cell therapy for autoimmune diseases. Lynelle B. Hoch of BMS highlighted the opportunity to make CAR T-cell therapy more efficient and accessible.
Ron Philip, CEO of Orbital Therapeutics, emphasized the agreement as a transformational moment for Orbital. Covington & Burling LLP is legal counsel to Bristol Myers Squibb. Centerview Partners LLC is the exclusive financial advisor to Orbital Therapeutics, and Goodwin Proctor LLP is its legal counsel.
BMS is focused on cell therapy to fight cancer and autoimmune diseases.
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Source: Bristol Myers Squibb
