Lilly’s Orna deal marks fifth takeout of an in vivo CAR T play in two years

Lilly’s proposed acquisition of Orna on Monday marks the fifth pharma takeout of an in vivo CAR T cell play and at least the twelfth deal for the modality in the past two years, suggesting the industry’s pullback in cell and gene therapies doesn’t apply to in vivo CAR T cell production.

On Monday, Eli Lilly and Co. (NYSE:LLY) announced plans to acquire privately held Orna Therapeutics Inc. for up to $2.4 billion, including an undisclosed upfront payment and milestones. It is the second takeout of a preclinical in vivo CAR T company and the modality’s largest in potential value in the past two years...