Bristol Myers Squibb acquired Orbital Therapeutics in a reported $1.5 billion transaction to gain an in vivo cell‑therapy platform aimed at autoimmune disease. The deal brings BMS a program that delivers CAR‑T‑like approaches directly in vivo, reducing reliance on autologous manufacturing and potentially lowering cost and complexity. The acquisition positions BMS alongside other large pharma pursuing in vivo cell technologies. Company statements and analysts frame the move as an acceleration of efforts to make cell therapies more scalable and accessible for autoimmune indications.