Bristol Myers Squibb completed a $1.5 billion acquisition of Orbital Therapeutics to add an in vivo cell therapy program aimed at autoimmune disease. The deal positions BMS alongside other large pharmas that are acquiring or partnering for in‑vivo cell‑delivery platforms, reflecting a strategic pivot to technologies that could broaden access to cell therapies without ex vivo manufacturing. Orbital’s approach—delivering therapeutic payloads in vivo—promises to simplify logistics and cost structures compared with autologous CAR‑T. BMS framed the purchase as a way to accelerate next‑generation cell therapy programs into clinical development and commercialization; investors and rivals will watch for early clinical readouts and regulatory signals that validate the in‑vivo concept.