Johnson & Johnson entered a new in vivo CAR T collaboration with Sail Biomedicines, paying $785 million upfront under a broader multi-target platform arrangement. The deal includes J&J’s exclusive option to acquire Sail for about $2.85 billion. J&J will use the collaboration to advance Sail’s lead immune-mediated disease program and expand the application of Sail’s platform across additional targets later, reflecting continued strategic investment in immune reset and next-generation cell therapy architectures. For the ecosystem, the transaction signals that large pharma remains willing to fund early-stage platform bets in in vivo CAR T—particularly as companies compete to deliver durable efficacy with manufacturability advantages versus conventional ex vivo approaches.