Eli Lilly to acquire Orna Therapeutics for up to $2.4B in cash

Eli Lilly (LLY) and Company and Orna Therapeutics, a biotechnology company dedicated to engineering immune cells in vivo, announced entry into a definitive agreement for Lilly to acquire Orna. Under the terms of the agreement, Lilly will acquire Orna, and Orna shareholders could receive up to $2.4B in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain clinical development milestones.