Eli Lilly reinforced its push into next-generation immunology and oncology innovation through two major transactions: the planned acquisition of Orna Therapeutics and a new large-scale strategic collaboration with China-based Innovent Biologics.

Together, the deals highlight Lilly’s strategy of combining internal R&D and external platforms with the ability to accelerate the development of novel medicines for autoimmune disease and cancer.¹

What are the details of Lilly’s acquisition of Orna?

Under a definitive agreement, Lilly is set to acquire Orna Therapeutics, a biotechnology company focused on engineering immune cells in vivo. The biotech company is developing a new class of therapeutics using engineered circular RNA paired with lipid nanoparticles, enabling a patient’s own body to generate cell therapies without the need for ex vivo cell manipulation.¹ The company’s lead program, ORN-252, is a clinical trial–ready, CD19-targeting in vivo CAR-T therapy designed to treat B cell–driven autoimmune diseases.

“Early autologous CAR-T studies have shown the promise of cell therapy for patients with autoimmune diseases, but the complexity, cost, and logistics of ex vivo approaches make it challenging to deliver these breakthroughs to the broader population of patients who need them,” said Francisco Ramírez-Valle, MD, PhD, senior vice president and head of immunology research and early clinical development at Lilly. “We look forward to working with Orna colleagues to potentially unlock an entirely new class of genetic medicines and cell therapies for patients who today have limited or no treatment options.”

Experiments conducted to date suggest Orna’s circular RNA platform has the ability to deliver more durable expression of therapeutic proteins than existing RNA or cell therapy approaches, potentially enabling treatments that are not feasible with current technologies.¹

Lilly suggests that Orna shareholders could receive up to $2.4 billion in cash, including an upfront payment and additional payments tied to the achievement of certain clinical development milestones.¹

“At Orna, we believe our circular RNA technology paired with our best-in-class LNP delivery platform have the potential to unlock in vivo CAR-T therapies for patients across a wide range of B cell-driven autoimmune diseases,” said Joe Bolen, PhD, chief executive officer of Orna Therapeutics. “We are excited to join forces with Lilly, an industry leader in the development of patient-centric therapeutics to realize the full potential of these technologies.”

What are the details of Lilly and Innovent’s collaboration?

Just a day prior to its acquisition of Orna, Lilly announced a separate strategic collaboration with Innovent Biologics, aiming to advance novel medicines in oncology and immunology.² The agreement marks the seventh collaboration between the two companies and introduces a new development model aimed at accelerating Innovent’s global pipeline.

Under the terms of the strategic collaboration, Innovent is expected to lead programs from discovery through clinical proof of concept in China, leveraging its antibody technology platforms and clinical development capabilities.² As part of the collaboration, Lilly will receive exclusive rights to develop and commercialize the resulting medicines worldwide outside of Greater China, while Innovent retains rights within the region.

Innovent is set to receive a $350 million upfront payment and will be eligible for development, regulatory, and commercial milestone payments totaling up to approximately $8.5 billion, contingent on future achievements. The company will also be eligible for tiered royalties on net sales outside Greater China.²

“We’re delighted to partner with Lilly, our trusted global pharmaceutical partner for over 10 years, to pursue novel medicines to improve treatment outcomes for patients with cancer and immune disorders,” said Michael Yu, MD, PhD, founder, chairman, and chief executive officer of Innovent. “This alliance moves beyond traditional licensing to create a seamless, end-to-end innovation ecosystem.”

Sources

1. Lilly to acquire Orna Therapeutics to advance cell therapies Eli Lilly and Company February 9, 2026 https://www.prnewswire.com/news-releases/lilly-to-acquire-orna-therapeutics-to-advance-cell-therapies-302682157.html
2. Innovent Announces Strategic Collaboration with Lilly to Develop New Medicines Globally in Oncology and Immunology Innovent Biologics February 8, 2026 https://www.prnewswire.com/news-releases/innovent-announces-strategic-collaboration-with-lilly-to-develop-new-medicines-globally-in-oncology-and-immunology-302682009.html