Eli Lilly has agreed to acquire in vivo CAR-T developer Orna Therapeutics in a deal worth up to $2.4 billion, marking another rapid move to strengthen its research pipeline. The transaction positions Lilly buys Orna for $2.4bn as a strategic step into next-generation cell therapies delivered directly inside the body.
Watertown, Massachusetts-based Orna is developing CAR-T therapies built on circular RNA and lipid nanoparticle delivery, allowing patients’ bodies to produce cell therapies without complex ex vivo manufacturing. Unlike many in vivo programs focused on cancer, Orna is targeting B-cell-driven autoimmune diseases and plans to begin clinical testing of its lead candidate, ORN-252, later this year.
In a statement, Lilly said that Orna’s circular RNA platform “may deliver more durable expression of therapeutic proteins and therefore unlock treatments that are not feasible with current RNA or cell therapy platforms.” The approach has already drawn interest from major pharmaceutical players, including MSD Merck, Vertex Pharma, and Moderna.
The Orna agreement follows closely after Lilly announced a strategic alliance with Innovent Biologics, underscoring an aggressive deal-making phase. It also comes after Lilly agreed earlier this year to acquire Ventyx Bio and as market speculation continues around other potential takeovers. Within this context, Lilly buys Orna for $2.4bn reflects rising competition for in vivo cell therapy assets.
Industry interest in in vivo CAR-T technologies has accelerated, with recent acquisitions by AbbVie, Bristol Myers Squibb, AstraZeneca, and Gilead Sciences highlighting the momentum behind simplified, scalable cell therapies.
“Early autologous CAR-T studies have shown the promise of cell therapy for patients with autoimmune diseases, but the complexity, cost, and logistics of ex vivo approaches make it challenging to deliver these breakthroughs to the broader population of patients who need them,” said Francisco Ramírez-Valle, Lilly’s head of immunology research and early clinical development.
“We look forward to working with Orna colleagues to potentially unlock an entirely new class of genetic medicines and cell therapies for patients who today have limited or no treatment options,” he added.
The deal includes an upfront payment alongside milestone payments linked to clinical development progress.
