The Life Sciences team represented Orbital Therapeutics ("Orbital") on a definitive agreement under which Bristol Myers Squibb (NYSE: BMY, "BMS") will acquire Orbital. The acquisition includes Orbital's lead RNA immunotherapy preclinical candidate currently in IND-enabling studies, OTX-201, which comprises an optimized circular RNA encoding a CD19-targeted CAR for in vivo expression delivered via targeted lipid nanoparticles (LNPs).
Under the terms of the agreement, BMS will pay $1.5 billion in cash at closing to acquire Orbital, which is subject to the satisfaction of customary closing conditions.
Orbital Therapeutics is advancing a new generation of RNA medicines designed to reprogram cells in vivo, treating diseases at their source. This approach offers patients a simpler, safer, and more accessible alternative to today's complex treatments. Built from day one with a fully integrated platform spanning circular and linear RNA, targeted delivery, and AI-guided design, Orbital is working to develop durable, programmable therapies tailored to the distinct biology of each disease. The company's lead program, OTX-201, targets autoimmune disease through B cell depletion to reset the immune system. Orbital's platform is built for expansion into broader autoimmune indications, oncology, next-generation vaccines, and protein therapeutics. Led by a team with deep expertise in RNA science, clinical development, and commercialization, Orbital is united by a shared commitment to reach more patients, in more places, with fewer barriers.
The Goodwin deal team was led by John Mutkoski, Rob Dzialo, Kathleen Kean, Larissa Pinho, Kristen McCarthy, Jess Gorski and Steven Dilsizian.
For more information on the deal, please read the press release.