08:55 AM EDT, 10/10/2025 (MT Newswires) -- Bristol-Myers Squibb ( BMY ) on Friday agreed to acquire privately-held ribonucleic acid medication manufacturer Orbital Therapeutics in an all-cash deal worth about $1.5 billion, as it aims to boost its cell therapy portfolio.

The transaction is expected to give Bristol Myers access to Orbital's lead pre-clinical candidate for chimeric antigen receptor T-cell therapy, OTX-201. The product is designed to reprogram cells in vivo with potential best-in-class profile for autoimmune diseases, the companies said in a joint statement.

"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," Bristol Myers Chief Research Officer Robert Plenge said. The biopharmaceutical company's shares edged up 0.5% in the most recent premarket activity.

Bristol Myers will also acquire Orbital's proprietary RNA platform as part of the deal.

Bristol Myers and Orbital will continue to operate as separate and independent companies until the deal completes, following customary closing conditions. The accounting treatment as a business combination or asset acquisition will be decided when the deal completes, the firms said.

"This agreement with Bristol Myers Squibb ( BMY ), a recognized leader in global medicine, marks a transformational moment for Orbital and the advancement of RNA medicine," Orbital Chief Executive Ron Philip said. "The promising early data from our lead program, OTX-201, underscore the strength of this approach and the potential of our integrated RNA technologies."