Intelligence

M&A Signals

M&A Signals – Deals Announced Through February 11, 2026

By:Christian Banach
onFebruary 12, 2026

Five standout acquisitions. One fast read. M&A Signals covers the most important deals, why they matter for agencies, and the follow-on work likely to surface—then lists every deal we tracked.

Highlights

Eli Lilly acquired Orna Therapeutics — Deal value: $2.4B

Eli Lilly is a pharmaceutical company. Orna Therapeutics is a biotechnology company focused on engineering immune cells in vivo. Lilly said the deal gives it a broad platform for long-term innovation in genetic medicine and in vivo cell engineering. It matters because the rationale is platform-led: the acquisition is positioned as a foundation for new therapeutic approaches, not just a single...

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Christian Banach

Christian Banach is the founder of NextBigWin and a leader in agency growth and business development, bringing over 20 years of experience. He serves on the 4A’s Expert Network and has helped holdco agencies, such as Energy BBDO, and independents win millions in new business from brands like Disney, Toyota, and Kohl’s.