- Lilly will acquire Ajax Therapeutics for up to $2.3 billion in cash tied to an upfront payment and clinical/regulatory milestones
- AJ1-11095, a once-daily oral first-in-class Type II JAK2 inhibitor, is in a Phase 1 trial (AJX-101) in patients previously treated with Type I JAK2 inhibitors, with dose selection expected in 2026
- First proof-of-concept clinical data for AJ1-11095 are slated for presentation later in 2026
Acquisition
Eli Lilly has agreed to acquire Ajax Therapeutics; Ajax shareholders may receive up to $2.3 billion in cash, inclusive of an upfront payment and clinical and regulatory milestones; the deal is subject to customary closing conditions, including Hart-Scott-Rodino approval, and Lilly will determine the accounting treatment under GAAP post-close.
Lead asset and mechanism
Ajax’s lead program, AJ1-11095, is a once-daily oral, first-in-class Type II JAK2 inhibitor designed to bind a distinct JAK2 conformation versus approved Type I inhibitors, with the aim of delivering deeper, more durable disease control and offering an option for patients who lose response to Type I JAK2 therapy.
Clinical development and timeline
AJ1-11095 is being evaluated in a Phase 1 trial (AJX-101) in myelofibrosis patients previously treated with Type I JAK2 inhibitors; the trial began in late 2024, dose selection for further development is expected in 2026, and first proof-of-concept clinical data are planned for presentation later in 2026.
Background and next steps
Ajax was founded by a team including Ross Levine and leveraged structure-based drug discovery; Lilly plans to rapidly advance AJ1-11095 into registrational clinical trials using its blood-cancer development capabilities.
