Eli Lilly agreed to acquire Orna Therapeutics for up to $2.4 billion to add an in‑vivo CAR‑T platform built on engineered circular RNA and lipid nanoparticle delivery. Orna’s lead program, ORN‑252, is a CD19‑targeting in‑vivo CAR‑T candidate aimed at B‑cell driven autoimmune diseases and is described by the company as clinical trial‑ready. The deal combines Lilly’s immunology capabilities with Orna’s circular RNA technology that could enable patients’ bodies to generate cell therapies without ex vivo manufacturing. Reporting outlets (STAT) and Lilly releases framed the purchase as part of a broader industry wave—other majors have recently bought in‑vivo CAR‑T assets—indicating Big Pharma is racing to secure scalable cell‑engineering platforms. Lilly characterized the acquisition as a long‑term innovation play in genetic medicine; financial terms (up to $2.4B) include milestone components that will affect near‑term accounting and future guidance.