Eli Lilly and Company has entered into a definitive agreement to acquire Ajax Therapeutics, a biopharmaceutical company focused on developing next-generation therapies for patients with myeloproliferative neoplasms (MPNs), including myelofibrosis and polycythemia vera.
Ajax’s lead asset, AJ1-11095, is an investigational, once-daily oral first-in-class Type II JAK2 inhibitor currently being evaluated in a Phase 1 clinical trial (AJX-101) in patients with myelofibrosis who have previously been treated with a Type I JAK2 inhibitor.
The therapy is designed to selectively target the Type II conformation of JAK2, with the potential to deliver deeper and more durable disease control compared to currently approved Type I JAK2 inhibitors. Many patients on existing therapies discontinue treatment due to loss of response or lack of durable benefit, highlighting the unmet need this approach aims to address.
The Phase 1 trial of AJ1-11095 began in late 2024, with dose selection for future clinical development expected in 2026, and initial proof-of-concept clinical data anticipated later in the year.
The acquisition builds on Lilly’s established capabilities in blood cancers and is intended to enhance its oncology pipeline, particularly in hematologic malignancies where resistance to current therapies remains a challenge.
From a commercial perspective, Ajax shareholders could receive up to $2.3 billion in cash, including an upfront payment and additional payments contingent on achieving certain clinical and regulatory milestones. This transaction reflects Lilly’s continued investment in oncology innovation and its strategy to expand its future portfolio in high-need disease areas.
