Bristol-Myers Squibb will buy Orbital Therapeutics for $1.5B, adding experimental CAR T-cell treatments for autoimmune diseases. The deal aims to expand and streamline Bristol’s cell therapy portfolio.
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00:02Bristol-Myers Squibb said Friday it will acquire cell therapy developer Orbital Therapeutics for $1.5 billion in cash, according to CNBC.
00:10Acquisition adds Orbital's experimental CAR-T cell therapies aimed at treating autoimmune diseases to Bristol's therapy portfolio.
00:17CAR-T therapy modifies a patient's immune cells to identify and destroy disease-causing cells.
00:22L'Albi Hoke, president of Bristol-Myers Cell Therapy Organization, said the Orbital acquisition will make CAR-T cell therapy more efficient and accessible.
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