Lilly buys Orna in multimodal deal — in vivo CAR‑T and circular RNA technologies in focus

Eli Lilly agreed to acquire Orna Therapeutics to add circular RNA (oRNA) and LNP delivery capabilities aimed at enabling in vivo CAR‑T therapies, in a transaction with up to $2.4 billion in milestone payments. Lilly described Orna’s ORN‑252 as clinical‑trial ready for in vivo CD19 CAR‑T and emphasized the technology’s potential to simplify cell therapy logistics and broaden access beyond autologous approaches. Industry commentary framed the deal as part of a wider wave of in vivo CAR‑T buys; analysts noted Lilly’s strategic push into genetic medicines spanning immunology, neurodegeneration and oncology. Lilly’s acquisition underscores pharma appetite for platforms that could convert complex ex‑vivo cell therapies into scalable in‑body treatments.