Bristol Myers Squibb To Acquire Orbital Therapeutics For $1.5 Bln

(RTTNews) - Pharmaceutical giant Bristol Myers Squibb (BMY) on Friday said it has agreed to acquire Orbital Therapeutics for $1.5 billion in cash.

The acquisition strengthens BMS' cell therapy portfolio,adding Orbital's RNA immunotherapy candidate OTX-201, currently in the investigational new drug (IND)-enabling stage.

BMS will also acquire Orbital's RNA platform, which uses advanced RNA engineering, delivery technology, and AI design to create long-lasting, customizable RNA therapies for a wide range of diseases.

"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.