By Colin Kellaher
Eli Lilly has struck a deal to buy genetic-medicine biotechnology company Orna Therapeutics for up to $2.4 billion in cash.
Eli Lilly on Monday said Orna, which is dedicated to engineering immune cells in vivo, is advancing a new class of therapeutics using engineered circular RNA paired with novel lipid nanoparticles to allow the patient's own body to generate cell therapies that can treat underlying disease.
The Indianapolis drugmaker said the acquisition, which includes inclusive of an undisclosed upfront payment and subsequent payments based on the achievement of certain clinical development milestones, gives it a platform for long-term innovation in genetic medicine and in-vivo cell engineering.
Eli Lilly said Orna's lead program, ORN-252, is a clinical trial-ready in-vivo chimeric antigen receptor T-cell, or CAR T, therapy designed to treat B cell-driven autoimmune diseases.
CAR T is a complex treatment that works by manipulating a patient's own disease-fighting white blood cells--known as T cells--and then infusing them back into the body to fight cancer.
Orna was created in 2021 by biotech investor MPM Capital and its BioImpact Capital affiliate.
The following year, Orna formed a collaboration with Merck & Co. aimed at developing multiple programs, including vaccines and therapeutics in the areas of infectious disease and oncology, that is potentially worth more than $3.5 billion to the biotech.
As part of the deal, Merck made a $150 million upfront payment to Orna and invested $100 million in a Series B financing round.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
02-09-26 1225ET
