Bristol Myers Squibb To Acquire Orbital Therapeutics In $1.5B Deal
Synopsis
The acquisition includes Orbital’s lead experimental therapy, known as OTX-201, which uses circular RNA to enable in-body production of CD19-targeting CAR T-cells through lipid nanoparticle delivery.
Bristol Myers Squibb (BMY) on Friday announced a definitive agreement to acquire privately held RNA-focused biotech firm Orbital Therapeutics, in an all-cash deal, valued at $1.5 billion.
The acquisition includes Orbital’s lead experimental therapy, known as OTX-201, which uses circular RNA to enable in-body production of CD19-targeting CAR T-cells through lipid nanoparticle delivery.
Following the announcement, Bristol Myers stock inched 0.3% higher in Friday’s premarket.
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