Bristol Myers Acquires Orbital Therapeutics for $1.5 Billion
Drugmaker Bristol Myers Squibb (BMY) has announced its acquisition of Orbital Therapeutics for $1.5 billion in cash. This strategic move aims to enhance Bristol’s portfolio in the field of CAR T-cell therapies.
Bristol Myers Acquires Orbital Therapeutics
The acquisition was confirmed on October 10 and represents a significant investment in innovative treatments for autoimmune diseases. Orbital Therapeutics is recognized for its lead candidate, OTX-201, which is in the experimental stage.
Understanding CAR T-Cell Therapy
CAR T-cell therapy is a groundbreaking approach that modifies a patient’s immune cells. This modification helps the immune system to identify and combat disease-causing cells more effectively.
Executive Insights
Lynelle B. Hoch, president of the Cell Therapy Organization at Bristol Myers, emphasized the potential impact of this acquisition. She stated, “This gives us an incredible opportunity to make CAR T-cell therapy more efficient and accessible to more patients.”
Overview of the Acquisition
- Acquirer: Bristol Myers Squibb
- Acquired Entity: Orbital Therapeutics
- Deal Value: $1.5 billion in cash
- Date of Announcement: October 10
- Lead Candidate: OTX-201
- Focus Area: Autoimmune diseases
This acquisition positions Bristol Myers to leverage new technologies in cell therapy, thereby expanding treatment options for a broader patient base.
