Bristol Myers Squibb Enters $1.5 Billion Definitive Agreement Acquiring Orbital Therapeutics

Bristol Myers Squibb (BMS) announced a definitive agreement in which BMS will acquire Orbital Therapeutics along with its investigational next-generation CAR T-cell therapy OTX-201. The acquisition is expected to help diversify and reinforce BMS’s cell therapy portfolio.¹

“With the acquisition of Orbital Therapeutics and its next-generation RNA platform, we have an incredible opportunity to make CAR T-cell therapy more efficient and accessible to more patients,” said Lynelle B. Hoch, president, Cell Therapy Organization, BMS. “As a leader in cell therapy, we are uniquely positioned to evaluate multiple different platform approaches to induce immune reset in autoimmune diseases and continue to optimize in vivo technology in clinical development.”

Per the terms of the agreement, Orbital is set to receive $1.5 billion in cash from BMS at closing and is subject to the satisfaction of customary closing conditions, which includes the expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.¹ BMS and Orbital will continue to operate as separate and independent companies until the agreement is complete.

Additionally, the agreement includes OTX-201, Orbital’s lead RNA immunotherapy preclinical candidate currently in IND-enabling studies.¹ OTX-201 comprises an optimized circular RNA encoding a CD19-targeted CAR for in vivo expression delivered via targeted lipid nanoparticles. ¹ The in vivo approach employs the patient’s body to serve as the manufacturer of CAR T-cells, and holds the potential to offer reduced treatment burden, along with improved accessibility compared to ex vivo CAR T-cell therapies.¹ BMS is also set to acquire Orbital’s proprietary RNA platform, that integrates linear and circular RNA engineering, advanced LNP delivery, and AI-driven design generating programmable RNA therapies curated to the specific biology of a wide variety of diseases.

“In vivo CAR T represents a novel treatment approach that could redefine how we treat autoimmune diseases,” said Robert Plenge, MD, PhD, executive vice president and chief research officer at BMS. “This acquisition enhances our robust cell therapy research platform and provides an opportunity to advance a potential best-in-class therapy designed to deplete autoreactive B cells and reset the immune system. We are excited by the promise this holds for patients with autoimmune diseases who are waiting for better options.”

“This agreement with Bristol Myers Squibb, a recognized leader in global medicine, marks a transformational moment for Orbital and the advancement of RNA medicine,” said Ron Philip, chief executive officer at Orbital Therapeutics. “Since inception, Orbital has made significant strides developing a differentiated RNA platform designed to enable a new generation of RNA medicines that reach more tissues, address more diseases, and benefit more patients. The promising early data from our lead program, OTX-201, underscore the strength of this approach and the potential of our integrated RNA technologies. Together, we aim to deliver RNA medicines that provide patients with treatments that are simpler, safer, and more accessible compared to today’s complex therapies.”