Orbital Therapeutics acquired by BMS for $1.5B RNA tech.

Orbital Therapeutics, a privately held biotech company, was purchased by Bristol Myers Squibb (BMS) for $1.5 billion in cash. The agreement, which was made public on October 10, 2025, gives BMS access to Orbital's exclusive RNA-based platform and expands its portfolio of cell therapies.

The acquisition expands BMS's current cell therapy offerings, which already include the licensed CAR T-cell treatments Breyanzi and Abecma. BMS hopes to develop its next-generation RNA immunotherapies and investigate various platform approaches for immune-related illnesses by acquiring Orbital.

“In vivo CAR T represents a novel treatment approach that could redefine how we treat autoimmune diseases,” said Robert Plenge, MD, PhD, executive vice president, Chief Research Officer, BMS. “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. We are excited by the promise this holds for patients with autoimmune diseases who are waiting for better options.”

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OTX-201 is a preclinical in vivo CAR T-cell treatment and Orbital's top candidate. In contrast to conventional CAR T treatments, which involve altering a patient's cells in a laboratory, this method genetically modifies immune cells inside the body. Patients may find the treatment easier to access and less taxing as a result.

By reducing autoreactive B cells and "resetting" the immune system, OTX-201 is intended to treat autoimmune disorders caused by B cells. Beyond its currently licensed CAR T-cell therapies for blood malignancies, this broadens BMS's therapeutic focus.

“This agreement with Bristol Myers Squibb, a recognized leader in global medicine, marks a transformational moment for Orbital and the advancement of RNA medicine,” said Ron Philip, Chief Executive Officer, Orbital Therapeutics.