Biopharmaceutical company Bristol Myers Squibb (NYSE:BMY) announced on Friday that it has entered into a definitive agreement to acquire Orbital Therapeutics, a privately held biotechnology company developing RNA-based medicines that reprogram the immune system in vivo.

The all-cash transaction is valued at USD1.5bn and is subject to customary closing conditions, including regulatory approvals under the Hart-Scott-Rodino Act.

Through this acquisition, Bristol Myers Squibb will gain Orbital's lead preclinical RNA immunotherapy candidate, OTX-201, an investigational in vivo CAR T-cell therapy targeting CD19 for the treatment of autoimmune diseases. The therapy uses optimised circular RNA delivered via targeted lipid nanoparticles, enabling CAR T-cell generation directly within the patient's body.

Bristol Myers Squibb will also acquire Orbital's proprietary RNA platform, which combines circular and linear RNA engineering, advanced lipid nanoparticle delivery, and AI-driven design. The company said that this acquisition strengthens its leadership in cell therapy and supports efforts to expand CAR T-cell access to a broader patient population.