The American pharmaceutical company Bristol Myers Squibb has entered into a definitive agreement to acquire the biotech company Orbital Therapeutics. This is reported in a press release from Squibb.
Under the terms of the agreement, BMS will pay $1.5 billion in cash upon closing of the transaction, subject to the usual closing conditions, including regulatory approval.
The deal provides for the expansion of Squibb's research platform in the field of cell therapy and provides an opportunity to develop new therapies aimed at depletion of autoreactive B cells and restoration of the immune system.
In particular, Squibb is acquiring the preclinical candidate Orbital OTX-201 in the field of RNA immunotherapy at the research stage, in which the patient himself serves as a producer of CAR-T cells to increase accessibility compared to ex vivo CAR-T cell therapy.
Additionally, the deal includes Orbital's RNA platform, which combines ring and linear RNA engineering, advanced LNP delivery, and AI-driven design to provide reliable, programmable RNA therapies tailored to the specific biology of a wide range of diseases by eliminating complex biological mechanisms and specific challenges.
Covington&Burling LLP is acting as legal advisor to Squibb, and Centerview Partners LLC is acting as advisor to Orbital Therapeutics.
Orbital Therapeutics is an American biotech company developing ribonucleic acid (RNA)-based medicines. The company's main activities include the development of an RNA technology platform for the creation of a wide range of medicines with an initial focus on vaccines, immunomodulation and protein replacement. It is headquartered in Cambridge, Massachusetts.
Bristol Myers Squibb (BMS) is an American multinational pharmaceutical company that develops and promotes innovative medicines for the treatment of serious diseases. The headquarters is located in Princeton, New Jersey. In 2024, BMS's revenue was $48.3 billion.
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