Eli Lilly has agreed to acquire Orna Therapeutics in a deal worth up to $2.4 billion, gaining access to Orna’s innovative circular RNA (oRNA) and in vivo CAR-T platform. The acquisition accelerates Lilly’s push into next-generation cell therapies that eliminate the need for ex vivo manufacturing, potentially delivering more scalable, faster, and less toxic CAR-T treatments for cancer and autoimmune diseases.
Glimpse:
Orna’s oRNA technology enables in vivo generation of CAR-T cells directly inside the patient’s body using engineered lipid nanoparticles. Lilly will pay $1.0 billion upfront plus up to $1.4 billion in milestones. The deal strengthens Lilly’s oncology and immunology pipeline with a promising modality that could overcome traditional CAR-T limitations such as high cost, long production times, and manufacturing complexity.
Eli Lilly and Company has entered into a definitive agreement to acquire Orna Therapeutics, a Massachusetts-based biotech pioneering circular RNA and in vivo cell therapy platforms. The transaction, announced in early 2026, carries a total value of up to $2.4 billion, including an upfront payment of $1.0 billion and potential milestone payments of up to $1.4 billion.
Orna’s core innovation is its oRNA (circular RNA) technology, which offers greater stability, higher protein expression, and reduced immunogenicity compared to linear mRNA. The company’s lead in vivo CAR-T program uses lipid nanoparticles to deliver oRNA encoding CAR constructs directly into T cells inside the body bypassing the costly, time-consuming ex vivo engineering required by current approved CAR-T therapies.
This approach could dramatically lower treatment costs, shorten time from decision to infusion, reduce logistical barriers, and potentially expand CAR-T into solid tumors and autoimmune indications where traditional methods have struggled. Orna’s platform also includes programs in oncology and rare diseases, which Lilly will integrate into its growing cell and gene therapy portfolio.
The acquisition aligns with Lilly’s broader strategy to build leadership in next-generation modalities. Following recent investments in RNA-based and cell therapies, the Orna deal adds a differentiated in vivo capability that could reshape how CAR-T therapies are developed and delivered.
The transaction is subject to customary closing conditions and regulatory approvals, with completion expected in the coming months.
“In vivo CAR-T could redefine how we treat cancer and autoimmune diseases making powerful therapies faster, simpler, and more accessible.”
By
HB Team
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