BMS strengthens cell therapy portfolio with $1.5B Orbital buy

Bristol Myers Squibb will acquire privately held biotech Orbital Therapeutics, picking up a portfolio of next-gen RNA medicines that reprogram the immune system in vivo.

The acquisition includes Orbital’s lead RNA immunotherapy preclinical candidate currently in IND-enabling studies, OTX-201, which comprises an optimized circular RNA encoding a CD19-targeted CAR for in vivo expression delivered via targeted lipid nanoparticles. Back in July, the Massachusetts-based startup shared that OTX-201 achieved full B cell depletion in blood, spleen, and lymph nodes — required for an effective immune system reset in autoimmune disease — in a non-human primate study.

“In vivo CAR-T represents a novel treatment approach that could redefine how we treat autoimmune diseases,” said Robert Plenge, MD, Ph.D., executive VP, Chief Research Officer, 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.”

Additionally, BMS will acquire Orbital’s proprietary RNA platform, which integrates circular and linear RNA engineering, advanced LNP delivery, and AI-driven design to enable durable, programmable RNA therapies tailored to the distinct biology of a broad spectrum of diseases.

Under the terms of the agreement, BMS will pay $1.5 billion in cash at closing to acquire Orbital and until then, BMS and Orbital will continue to operate as separate and independent companies. Orbital, launched in 2023 as a spinout of Beam Therapeutics, is currently helmed by former Spark Therapeutics CEO Ron Philip.