Eli Lilly has acquired Orna Therapeutics for up to $2.4 billion in an all-cash transaction to enhance its oncology portfolio and enter the in vivo CAR-T therapy market, leveraging Orna's innovative engineered circular RNA platform and advancing its lead asset, ORN-252, for B-cell-driven autoimmune diseases.

Information on the target

Eli Lilly (NYSE: LLY) has announced its acquisition of Orna Therapeutics for a total consideration of up to $2.4 billion, marking a strategic entry into the in vivo CAR-T therapy market. This all-cash transaction provides Lilly with access to Orna’s innovative engineered circular RNA platform, which utilizes lipid nanoparticles to generate cell therapies directly within patients’ bodies. Orna’s lead asset, ORN-252, is designed to target CD19 for B-cell-driven autoimmune diseases and is currently positioned as clinical trial-ready.

Founded in 2021, Orna Therapeutics emerged from research conducted by MIT scientists Alex Wesselhoeft, Ph.D., and Professor Dan Anderson, Ph.D. The company has successfully raised $321 million through seed and Series B funding rounds and has established collaborations with major pharmaceutical players such as Merck & Co. and Vertex. Orna’s platform aims to overcome the complexity and cost challenges associated with traditional ex vivo CAR-T therapies, offering a more durable therapeutic protein expression.

Industry overview in the target’s specific country

The biotechnology and pharmaceutical industry in the United States is characterized by rapid innovation and significant investment in research and development. With a robust ecosystem of universities, research institutions, and venture capital,