Lilly Acquires Orna Therapeutics to Enhance Cell Therapy Innovations
Eli Lilly and Company has announced a definitive agreement to acquire Orna Therapeutics, aiming to enhance innovations in cell therapy. Orna Therapeutics is recognized for its work in engineering immune cells in vivo, particularly through a novel therapeutic class utilizing circular RNA technology.
Lilly’s Strategic Acquisition
This acquisition marks a significant step for Lilly, allowing the company to broaden its platform in genetic medicine and in vivo cell engineering. The acquisition aligns with Lilly’s goal of advancing therapies for B cell-driven autoimmune diseases.
Orna Therapeutics’ Innovative Approach
Orna Therapeutics is leading the development of ORN-252, an innovative Chimeric Antigen Receptor T-cell (CAR-T) therapy targeting CD19 proteins. This therapy is designed specifically for B cell-driven autoimmune conditions.
- Key Innovation: Orna uses engineered circular RNA technologies paired with lipid nanoparticles.
- Durability: Early experiments indicate that this platform may facilitate more durable expression of therapeutic proteins.
Financial Details of the Acquisition
As part of the deal, Orna shareholders may receive up to $2.4 billion. This amount includes an upfront payment and subsequent milestone payments based on clinical developments.
Quotes from Company Leaders
Francisco Ramírez-Valle, M.D., Ph.D., Senior Vice President at Lilly, expressed optimism about collaborating with Orna to unlock new genetic medicines and cell therapies for patients currently lacking treatment options. Joe Bolen, Ph.D., CEO of Orna, highlighted the potential of their circular RNA technology and the strength of Lilly in patient-centric drug development.
Expert Legal and Financial Guidance
The transaction will be managed under Generally Accepted Accounting Principles (GAAP) after the closing. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel for Lilly, while Lazard advises Orna.
As Lilly moves forward, it aims to leverage this acquisition to make significant strides in treating some of the most challenging health conditions. The collaboration with Orna is expected to advance enhancements in cell therapy innovations and genetic medicine, particularly in addressing B cell-related illnesses.
