Oct. 10 at 5:37 PM
Bristol Myers Squibb agreed to acquire Orbital Therapeutics, a private biotech developing RNA-based medicines, for
$1.5 billion, extending a wave of major biotech deals this year.
Founded in 2022, Orbital raised
$270 million in a 2023 Series A round. Its lead candidate, OTX-201, an RNA therapy for autoimmune diseases, is expected to enter human trials in 2026. The deal marks Bristol’s largest since its
$4.1 billion purchase of RayzeBio in February 2024.
The acquisition spree spans the sector: Novo Nordisk recently announced a
$4.7 billion deal for Akero Therapeutics; Pfizer agreed to buy Metsera for
$4.9 billion; and Genmab unveiled an $ 8 billion purchase of Merus. Meanwhile, Johnson & Johnson is reportedly in talks to acquire Protagonist Therapeutics, whose psoriasis drug is being developed with J&J.
Analysts say the surge reflects Big Pharma’s race to rebuild pipelines as patents expire.
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