Eli Lilly to Acquire Ajax Therapeutics in $2.3 Bn Deal to Strengthen Blood Cancer Pipeline

The acquisition is aimed at strengthening Lilly’s oncology pipeline, particularly in blood cancer treatments.

Eli Lilly and Company has entered into a definitive agreement to acquire Ajax Therapeutics, Inc., a biopharmaceutical firm focused on developing next-generation JAK inhibitors for myeloproliferative neoplasms (MPNs), including myelofibrosis and polycythemia vera.

The acquisition is aimed at strengthening Lilly’s oncology pipeline, particularly in blood cancer treatments.

Under the agreement, Ajax shareholders may receive up to $2.3 billion in cash, including upfront and milestone-based payments tied to clinical and regulatory progress. The transaction remains subject to customary closing conditions, including regulatory clearance under the Hart-Scott-Rodino Antitrust Improvements Act.

At the center of the deal is Ajax’s lead candidate, AJ1-11095, an investigational, once-daily oral, first-in-class Type II JAK2 inhibitor currently in Phase 1 clinical development. The candidate is being evaluated in the AJX-101 trial involving patients with myelofibrosis who have previously been treated with a Type I JAK2 inhibitor.

According to the companies, all currently approved JAK2 inhibitors for MPNs bind to the Type I conformation of the JAK2 enzyme. While these therapies offer symptomatic relief, patients often discontinue treatment due to limited durability or loss of response. AJ1-11095 has been designed to selectively target the Type II conformation of JAK2, to deliver deeper and more sustained disease control, particularly in patients who have developed resistance to existing therapies.

The Phase 1 study for AJ1-11095 began in late 2024, and dose selection for future clinical development is expected in 2026. First proof-of-concept clinical data is also expected to be presented later in the year.

Lilly’s oncology leadership stated that the acquisition aligns with its ongoing focus on blood cancers and builds on its existing capabilities in the field. The company noted expectations to advance AJ1-11095 into registrational trials following upcoming clinical readouts.

Ajax Therapeutics, founded to develop selective JAK2 inhibitors addressing unmet needs in MPNs, is currently advancing AJ1-11095 through early-stage trials. The company’s leadership stated that Lilly’s acquisition will support further clinical development of the candidate for patients with limited treatment options.

The acquisition is expected to close following regulatory approvals and standard procedural requirements.

Stay tuned for more such updates on Digital Health News