Eli Lilly announced a transaction to acquire Orna Therapeutics to integrate Orna’s circular RNA and lipid nanoparticle delivery platform into Lilly’s genetic medicine strategy. The deal centers on ORN‑252, an in vivo circular‑RNA CAR‑T candidate targeting CD19, and carries up to $2.4 billion in contingent payments. Lilly positions the acquisition as a shortcut to scalable, in vivo CAR‑T approaches that could replace complex ex vivo therapies for certain autoimmune and oncologic indications. Lilly said it will fold Orna’s platform into broader efforts spanning immunology and CNS research, citing the potential to simplify manufacturing and lower costs compared with current cell‑therapy processes.