Lilly agrees to acquire Ajax Therapeutics for up to $2.3 billion

Lilly agreed to acquire Ajax Therapeutics for up to $2.3 billion in total potential consideration, combining an upfront payment with milestones. Ajax's lead investigational drug, AJ1-11095, is a once-daily oral type II JAK2 inhibitor in Phase 1 for patients with myelofibrosis who have stopped a type I JAK2 inhibitor. The deal expands Lilly's blood cancer pipeline.

• Up to $2.3B total potential consideration
• Upfront versus milestone split not disclosed
• Lead drug AJ1-11095 is an oral type II JAK2 inhibitor in Phase 1