Lilly Acquires Orna Therapeutics for Up to $2.4B to Expand In Vivo CAR-T Portfolio

Feb. 9, 2026- Eli Lilly has entered the fast-growing in vivo CAR-T space with the acquisition of Orna Therapeutics for up to $2.4 billion, strengthening its push into next-generation genetic medicines for autoimmune diseases.

Massachusetts-based Orna is developing in vivo CAR-T cell therapies using an engineered circular RNA (circRNA) platform combined with lipid nanoparticle (LNP) delivery to program immune cells directly inside the body. The company’s lead asset, ORN-252, is a CD19-targeting in vivo CAR-T therapy described by Lilly as clinical trial-ready and intended for B cell-driven autoimmune diseases.

Lilly did not disclose how much of the $2.4 billion deal value will be paid upfront versus milestone-based payments tied to clinical progress.

According to Lilly, Orna’s circRNA technology has shown the potential to enable more durable expression of therapeutic proteins compared with conventional mRNA approaches, potentially expanding the scope of diseases addressable by in vivo cell engineering.

The acquisition gives Lilly ownership of a broad in vivo CAR-T platform, positioning the company for long-term innovation in genetic medicine and immune cell reprogramming.

The deal follows a wave of major pharma investments in the in vivo CAR-T field. Recent transactions include Gilead’s acquisition of Interius BioTherapeutics, AbbVie’s purchase of Capstan Therapeutics, Bristol Myers Squibb’s acquisition of Orbital Therapeutics, and AstraZeneca’s buyout of EsoBiotec.

Founded in 2021 with $100 million in seed funding, Orna has raised more than $300 million in total financing, partnered with Merck and Vertex, and acquired Renegade Therapeutics in 2024. Its platform originated from research at MIT focused on delivering CAR constructs directly to immune cells without ex vivo manipulation.