Eli Lilly Acquires Orna Therapeutics in Up to $2.4 Billion Deal

Valerio Therapeutics Acquires Etherna Immunotherapies

August 17, 2026

Biotechnology

Valerio Therapeutics acquired 100% of Etherna Immunotherapies at an enterprise value of €30 million, funded through cash consideration and contributions of Etherna shares. The acquisition combines Valerio’s cell-targeting technology with Etherna’s RNA chemistry, lipid nanoparticle delivery and GMP manufacturing capabilities to build an integrated targeted RNA therapeutics platform.

Eli Lilly to Acquire Vaccine Company for Up to $1.55 Billion

May 27, 2026

Biotechnology

Vaccine Company, Inc. announced it has entered into a definitive agreement to be acquired by Eli Lilly and Company in a deal valued at up to $1.55 billion, including upfront and milestone-based payments. The acquisition is intended to accelerate development of Vaccine Company’s next-generation in vivo nanoparticle (IVN) vaccine platform, led by a Phase 1-ready Epstein-Barr virus (EBV) vaccine candidate targeting infectious mononucleosis and longer-term EBV-linked diseases.

Eli Lilly Acquires Kelonia Therapeutics for Up to $7 Billion

April 20, 2026

Biotechnology

Eli Lilly has announced a definitive agreement to acquire Kelonia Therapeutics, a clinical-stage biotechnology company developing in vivo CAR-T cell therapy via its proprietary gene delivery platform. The deal is valued at up to $7 billion, including a $3.25 billion upfront payment, with additional clinical, regulatory, and commercial milestone payments. Closing is expected in the second half of 2026, subject to customary approvals.

Bristol Myers Squibb to Acquire Orbital Therapeutics in $1.5 Billion Deal

October 11, 2025

Biotechnology

Bristol Myers Squibb (BMS) has entered into an agreement to acquire Orbital Therapeutics, a privately held biotechnology company developing RNA medicines. The $1.5 billion cash deal will give BMS Orbital’s lead candidate OTX-201 and its proprietary RNA platform, supporting BMS’s efforts to advance in vivo CAR T and immunotherapy approaches.

Orna Therapeutics Acquires ReNAgade Therapeutics

May 23, 2024

Biotechnology

Orna Therapeutics has acquired ReNAgade Therapeutics, combining Orna's circular RNA platform with ReNAgade's lipid nanoparticle (LNP) delivery systems and RNA editing capabilities. As part of the deal Amit D. Munshi (former ReNAgade CEO) will succeed Tom Barnes as Orna's CEO, and the combined company will pursue panCAR oncology and autoimmune programs, vaccine collaborations and genetic disease programs supported by substantial financing.

Novo Nordisk to Acquire Dicerna Pharmaceuticals (GalXC RNAi Platform)

November 18, 2021

Biotechnology

Novo Nordisk entered into a definitive agreement to acquire Dicerna Pharmaceuticals for $38.25 per share in cash, valuing the deal at approximately $3.3 billion. The acquisition expands Novo Nordisk’s RNAi research technology platform, building on a 2019 research collaboration using Dicerna’s GalXC technology.