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In a bold leap into the next era of medical innovation, Bristol Myers Squibb announced Friday it will acquire Orbital Therapeutics for $1.5 billion in cash, a move that fortifies its presence in RNA and cell-based therapies aimed at tackling autoimmune diseases.

The acquisition, one of Bristol Myers’ largest biotech deals this year, underscores the pharmaceutical giant’s growing commitment to reprogramming the immune system from within, using the cutting-edge science of RNA medicine.

Covington & Burling LLP served as legal counsel to Bristol Myers, while Goodwin Procter LLP advised Orbital on the transaction.

Inside the Science: Reprogramming Immunity Through RNA

Cambridge-based Orbital Therapeutics, a fast-rising biotech founded on pioneering RNA research, has been working to develop next-generation RNA medicines capable of retraining the body’s immune response to address the root causes of chronic and complex diseases.

At the center of the acquisition lies Orbital’s proprietary RNA platform and its flagship preclinical therapy, OTX-201, which could rewrite the playbook for how cell therapies are delivered.

Unlike traditional CAR T-cell treatments — which require extracting and modifying immune cells in a lab before reinfusing them into the patient — OTX-201 delivers RNA directly into the body, instructing immune cells to manufacture their own therapeutic CAR T cells in real time.

Bristol Myers described this internal cell engineering process as a breakthrough that could make such treatments “easier, faster, and more accessible” to patients worldwide.

A Strategic Leap for Bristol Myers’ Cell Therapy Empire

“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,” said Robert Plenge, Bristol Myers’ chief research officer.

The deal gives Bristol Myers a powerful new weapon in its growing immunology and RNA arsenal, complementing its existing CAR T-cell therapies and pipeline in autoimmune and inflammatory diseases.

Orbital’s work, meanwhile, represents a critical link in bridging cell therapy and RNA engineering, creating what both companies see as the next frontier in precision medicine.

A “Transformational Moment” for Orbital Therapeutics

For Orbital, the acquisition marks a milestone in its evolution from a promising biotech startup to a major player in the next wave of therapeutic innovation.

“Since inception, Orbital has made significant strides developing a differentiated RNA platform designed to enable a new generation of RNA medicines that reach more tissues, address more diseases, and benefit more patients,” said Ron Philip, Orbital’s CEO. “The promising early data from our lead program, OTX-201, underscore the strength of this approach and the potential of our integrated RNA technologies.”

Orbital’s leadership will reportedly continue to collaborate with Bristol Myers’ cell therapy division as the integration moves forward.

The Legal Teams Behind the Billion-Dollar Move

The Covington & Burling LLP team advising Bristol Myers includes Catherine Dargan, Drew Fischer, Megan Woodford, Winsome Cheung, and Ingrid Rechtin.

Deal team information for Goodwin Procter LLP, which represented Orbital, was not immediately available.

A New Era of In-Body Cell Engineering

With this deal, Bristol Myers’ $1.5B Orbital Buy signals a seismic shift in how medicine could be delivered in the coming decade. By merging RNA technology with cell therapy expertise, the company aims to usher in a new class of treatments capable of reprogramming human biology from within — turning the body itself into the laboratory for healing.