Eli Lilly (LLY) Stock: Why This $2.4 Billion Deal Could Reshape Cell Therapy

TLDR Eli Lilly (LLY) will acquire Orna Therapeutics for up to $2.4 billion in cash to advance cell therapy treatments for autoimmune diseases. Orna is developing ORN-252, a clinical trial-ready in vivo CAR-T therapy that uses circular RNA technology to treat B cell-driven autoimmune diseases. The acquisition gives Lilly access to Orna’s platform that allows patients’ bodies to generate cell therapies using engineered circular RNA and lipid nanoparticles. Current autologous CAR-T approaches are complex and costly, making them difficult to scale for broader patient populations. The deal includes an upfront payment plus milestone-based payments tied to clinical development achievements. Eli Lilly made a major move Monday morning, announcing plans to acquire Orna Therapeutics for up to $2.4 billion in cash. The deal brings Lilly a promising new approach to treating autoimmune diseases. Eli Lilly & Co agreed to buy US biotech Orna Therapeutics for up $2.4 billion in cash in the latest deal by the company best known for its weight-loss drug Zepbound https://t.co/kJW1YHokse — Bloomberg (@business) February 9, 2026 Orna has built a platform using circular RNA technology paired with lipid nanoparticles. This combination allows patients’ own bodies to produce therapeutic cells without the need for complex external processing. The centerpiece is ORN-252, a CD19-targeting CAR-T therapy ready for clinical trials. It’s designed to tackle B cell-driven autoimmune diseases by reprogramming the immune system directly inside the patient’s body. Eli Lilly and Company, LLY Traditional CAR-T therapies require removing cells from patients, engineering them in a lab, and infusing them back. That process is expensive, time-consuming, and logistically challenging. Early studies show promise, but scaling these treatments remains a major hurdle. Circular RNA Technology Advantage Orna’s circular RNA platform may offer more durable protein expression than current RNA therapies. That could un...