BMS Acquires Orbital Therapeutics for $1.5 Billion

Bristol Myers Squibb is acquiring Cambridge-based Orbital Therapeutics. Under the terms of the agreement, BMS will pay $1.5 billion in cash at closing. Orbital is a privately held biotech pioneering a new generation of RNA medicines that reprogram the immune system in vivo, enabling treatments that address the underlying biology and unique complexities of each disease.

Built from day one with a fully integrated platform spanning circular and linear RNA, targeted delivery, and AI-guided design, Orbital is working to develop durable, programmable therapies tailored to the distinct biology of each disease. Orbital’s platform is built for expansion into broader autoimmune indications, oncology, next-generation vaccines, and protein therapeutics.

Orbital’s in vivo approach, in which the patient’s own body serves as the manufacturer of CAR T-cells, offers significant benefits compared to ex vivo CAR T-cell therapies and gives patients a simpler, safer, and more accessible alternative. The acquisition includes Orbital’s lead in vivo RNA immunotherapy preclinical candidate, OTX-201, which is delivered via targeted lipid nanoparticles (LNPs). OTX-201 targets autoimmune disease through B cell depletion to reset the immune system.

Additionally, BMS will acquire Orbital’s proprietary RNA platform, which integrates circular and linear RNA engineering, advanced LNP (lipid nanoparticle) delivery, and AI-driven design to enable programmable RNA therapies tailored to the distinct biology of a broad spectrum of diseases. (Source: Orbital Therapeutics Website, 10 October, 2025)