Eli Lilly to Acquire Ajax for $2.3B, Bolstering JAK2 Inhibitor Pipeline
Eli Lilly agreed to acquire Ajax Therapeutics for up to $2.3 billion in upfront and milestone payments, marking its second oncology acquisition this month after a $7 billion Kelonia deal. Ajax’s Phase 1, once-daily Type II JAK2 inhibitor AJ1-11095 targets treatment-resistant myelofibrosis with proof-of-concept data expected later in 2026.
1. Transaction Details
Eli Lilly will pay up to $2.3 billion including upfront and clinical and regulatory milestone payments to acquire Ajax Therapeutics, representing its second oncology acquisition this month following the $7 billion Kelonia Therapeutics deal.
2. Ajax Asset Profile
Ajax’s lead asset AJ1-11095 is a once-daily oral Type II JAK2 inhibitor in Phase 1 trials for myelofibrosis patients resistant to Type I therapies, designed to address response loss and potentially serve as a first-line treatment, with proof-of-concept data due later in 2026.
3. Strategic Impact
The acquisition reinforces Lilly’s ambition to expand its hematology portfolio, adds a complementary blood cancer program to its pipeline alongside Kelonia assets, and underscores confidence in novel JAK2 targeting to drive deeper and durable efficacy in myelofibrosis.