Unleashing the Power of In Vivo Cell Engineering: Lilly's Bold Move
In a groundbreaking move, Eli Lilly and Company has announced its acquisition of Orna Therapeutics, a biotechnology pioneer in immune cell engineering. This strategic move aims to revolutionize cell therapies and genetic medicine, offering hope to patients with autoimmune diseases.
Orna's innovative approach utilizes circular RNA paired with lipid nanoparticles, enabling the body's natural ability to generate cell therapies. Their lead program, ORN-252, is a game-changer, designed to tackle B cell-driven autoimmune disorders. Early experiments suggest a more durable expression of therapeutic proteins, potentially unlocking new treatment avenues.
The Promise of In Vivo CAR-T Therapies
Francisco Ramírez-Valle, Senior Vice President at Lilly, highlights the potential of cell therapy for autoimmune patients. However, he acknowledges the challenges of ex vivo approaches, emphasizing the need for broader accessibility. With Orna's technology, the goal is to unlock a new class of genetic medicines, offering hope to those with limited treatment options.
Uniting Forces for Patient-Centric Innovation
Joe Bolen, CEO of Orna, believes their circular RNA technology, coupled with their LNP delivery platform, has the potential to transform patient care. By joining forces with Lilly, a leader in patient-centric therapeutics, they aim to realize the full potential of these innovative technologies across a wide range of autoimmune diseases.
Financial Details and Legal Counsel
Under the agreement, Lilly will acquire Orna, with shareholders potentially receiving up to $2.4 billion in cash, including upfront and milestone payments. The transaction will be accounted for in accordance with GAAP, impacting Lilly's financial results and guidance. Legal counsel for Lilly is Paul, Weiss, Rifkind, Wharton & Garrison LLP, while Lazard acts as Orna's financial advisor, and Goodwin Procter LLP provides legal counsel to Orna.
About Lilly and Orna: A Shared Vision
Lilly, with a legacy of nearly 150 years, is dedicated to turning science into healing, improving lives globally. Orna Therapeutics, on the other hand, is focused on designing and delivering a new class of circular RNA therapeutics, leveraging its advantages over traditional mRNA approaches. Together, they aim to redefine healthcare, tackling some of the world's most challenging diseases.
Cautionary Note and Forward-Looking Statements
While this press release highlights the potential benefits of the acquisition and Orna's technologies, it's important to note the inherent risks and uncertainties in drug research and development. There can be no guarantee of success, and actual results may differ. For a detailed discussion of these risks, refer to Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission.
Contact Information
For media inquiries, contact Ashley Hennessey at gentryashleyjo@lilly.com or 317-416-4363. For investor-related matters, reach out to Michael Czapar at czaparmichaelc@lilly.com or 317-617-0983. Orna investors can contact Alex Lobo at Alex.lobo@precisionaq.com.
Source
Eli Lilly and Company
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