In a bid to bolster its rare disease portfolio, Kyowa Kirin has agreed to acquire Orchard Therapeutics for US$16 per American Depositary Share (ADS) in cash, representing a total equity value of US$477.6 M. The transaction is driven by Orchard’s Libmeldy® (atidarsagene autotemcel) which is already approved in the EU and currently under FDA review for metachromatic leukodystrophy (MLD), with approval expected in March 2024. Following the transaction, Orchard will become a wholly owned subsidiary of Kyowa Kirin.