BMS inks $1.5bn deal for Orbital to push in vivo cell therapy

Bristol Myers Squibb has entered a definitive agreement to acquire Orbital Therapeutics in a transaction valued at approximately $1.5 billion. Orbital is a privately held biotechnology company focused on RNA medicines that reprogram the immune system in vivo.

Central to the acquisition is Orbital’s lead experimental candidate, OTX201, a next generation CAR T approach being developed for autoimmune diseases. Unlike traditional CAR T therapies that rely on modifying cells outside the body, OTX201 delivers RNA instructions inside the body to reprogram immune cells directly.

Bristol Myers Squibb believes this in vivo approach could simplify treatment and expand access to cell therapy. The acquisition also includes Orbital’s RNA engineering platform, which combines circular and linear RNA design, advanced delivery systems, and artificial intelligence based optimisation.

This move strengthens Bristol Myers Squibb’s position in cell therapy and signals a major step toward expanding CAR T technology beyond oncology into inflammatory and autoimmune disorders. The transaction is subject to customary closing conditions and regulatory review.