NEW YORK CITY (dpa-AFX) - Pharmaceutical giant Bristol Myers Squibb (BMY) on Friday said it has agreed to acquire Orbital Therapeutics for $1.5 billion in cash.
The acquisition strengthens BMS' cell therapy portfolio,adding Orbital's RNA immunotherapy candidate OTX-201, currently in the investigational new drug (IND)-enabling stage.
BMS will also acquire Orbital's RNA platform, which uses advanced RNA engineering, delivery technology, and AI design to create long-lasting, customizable RNA therapies for a wide range of diseases.
'With the acquisition of Orbital Therapeutics and its next-generation RNA platform, we have an incredible opportunity to make CAR T-cell therapy more efficient and accessible to more patients,' said Lynelle B. Hoch, president, Cell Therapy Organization, BMS.
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