Orna Therapeutics, Inc. has clinched its first big pharma partner for its novel circular RNA (oRNA) technology platform in a deal with Merck & Co., Inc., but the start-up is retaining its lead programs, in situ chimeric antigen receptor (CAR) therapies (isCARs).
In an early-stage deal announced on 16 August, Merck agreed to pay Orna $150m up front and invest an additional $100m of equity in a Series B financing round announced...