Bristol Myers Squibb agreed to acquire Orbital Therapeutics for $1.5 billion in cash to add in vivo CAR‑T capabilities to its pipeline. The deal brings Orbital’s lead program, OTX‑201, and its platform for reprogramming immune cells inside the body to BMS, aiming to simplify cell therapy delivery and manufacturing. BioCentury and related reporting note Orbital was three years old and nearing the clinic, making the purchase a near‑term strategic bet. The acquisition accelerates BMS’s effort to move beyond ex vivo CAR‑T logistics by integrating technologies that could be dosed intravenously without patient leukapheresis and intensive chemo conditioning. In vivo CAR‑T aims to lower cost and broaden access but remains early—clinical data and translational hurdles will determine success. Industry observers cited by BioCentury flagged the deal as part of a wider 2025 buying spree in in vivo cell therapy. Orbital’s programs target autoimmune indications as well as potential oncology applications; BMS said the technology complements its existing cell therapy work. Analysts noted the $1.5 billion price tag reflects both platform value and intense competition among big pharmas for cell‑therapy enablers.