Eli Lilly (LLY) has agreed to acquire biotechnology company Orna Therapeutics for up to $2.4B in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain clinical development milestones.
The deal provides a broad platform for long-term innovation in genetic medicine and in vivo cell engineering.
Orna is developing a new type of therapy that uses engineered circular RNA and lipid nanoparticles to enable a patient’s own body to produce cell-based treatments for underlying disease.
Its lead program, ORN-252, is a clinical-trial–ready in vivo CAR-T therapy targeting CD19, aimed at treating B-cell–driven autoimmune diseases. Early studies suggest Orna’s circular RNA approach may provide longer-lasting therapeutic effects than existing RNA or cell therapy platforms, potentially enabling treatments that are not currently possible.
LLY shares rose +1.7% premarket at $1,075.