On Apr. 27, 2026, Eli Lilly and Ajax Therapeutics announced a definitive agreement for Lilly to acquire Ajax. 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.

All approved JAK2 inhibitors for patients with MPNs, including myelofibrosis and polycythemia vera, bind the Type I confirmation of JAK2. While these JAK2 inhibitors provide clinical and symptomatic relief, many patients often discontinue Type I JAK2 treatment due to a lack of durable benefit or loss of response. AJ1-11095 was designed as a selective Type II JAK2 inhibitor to not only deliver deeper and more durable efficacy than existing JAK2 inhibitors but also to provide a novel treatment option for those patients who become resistant to Type I JAK2 inhibitors. The Phase 1 clinical trial of AJ1-11095 began in late 2024 and dose selection for future clinical development is expected in 2026.

Under the terms of the agreement, Lilly will acquire Ajax and Ajax shareholders could receive up to $2.3 billion in cash, inclusive of an upfront payment and subsequent payments upon the achievement of certain clinical and regulatory milestones.