Bristol Myers Squibb Acquires Orbital Therapeutics for $1.5 Billion

bristol Myers Squibb announced on September 2,2024,that it will acquire Orbital Therapeutics for $1.5 billion. This acquisition significantly strengthens BMS’s cell therapy portfolio, focusing on innovative in vivo CAR-T therapies.These therapies hold promise for treating autoimmune diseases by genetically modifying T-cells within the body, rather than requiring cells to be extracted, modified, and re-infused – a process characteristic of traditional CAR-T therapy.

Orbital’s platform technology utilizes adeno-associated viruses (AAVs) to deliver CAR-T cell genes directly to target tissues. This approach potentially offers several advantages over conventional CAR-T therapies, including reduced manufacturing complexity, lower costs, and improved accessibility for patients. The acquisition is expected to close in the third quarter of 2024, subject to customary closing conditions.

BMS’s strategic move underscores the growing interest in in vivo CAR-T therapies as a potential breakthrough in autoimmune disease treatment.The company plans to leverage Orbital’s technology to develop a pipeline of novel therapies targeting a range of autoimmune conditions.

boston’s Biotech supremacy is Being Challenged

For decades, Boston has reigned as the undisputed global hub for life sciences innovation. However, a recent article by Shirley leung in The Boston Globe highlights a growing challenge to this dominance.Rising costs, limited lab space, and increasing competition from emerging biotech hubs are eroding Boston’s competitive edge.

several cities are actively vying for a larger share of the biotech pie. These include:

• San Diego, California: Benefiting from a strong research base and a favorable business climate.
• San Francisco Bay Area, California: Driven by venture capital investment and a concentration of tech talent.
• Raleigh-Durham, North Carolina: Offering lower costs and a growing skilled workforce.
• Philadelphia, Pennsylvania: Leveraging proximity to major universities and a robust pharmaceutical industry.

the competition is not merely geographic. The increasing availability of remote work and distributed research models also threatens to decentralize the biotech industry. Boston will need to address its challenges proactively to maintain its position as a leading innovation center.

Comparative Biotech Hub data (2023)

Source: BioWorld,