Eli Lilly to Acquire Ajax Therapeutics for Up to $2.3 Billion
Eli Lilly is acquiring Ajax Therapeutics, a developer of blood cancer drugs, in a deal valued at up to $2.3 billion. The acquisition centers on AJ1-11095, a first-in-class experimental oral drug currently in early-stage trials for myelofibrosis, a type of blood cancer. The deal underscores Lilly's expansion into oncology, particularly hematologic malignancies. Ajax Therapeutics is a biotech firm focused on developing small molecule inhibitors for blood cancers. The transaction includes an upfront payment and potential milestone payments.
Key facts
- Eli Lilly is acquiring Ajax Therapeutics for up to $2.3 billion.
- The deal centers on AJ1-11095, an experimental oral drug for myelofibrosis.
- AJ1-11095 is in early-stage clinical trials.
- Ajax Therapeutics develops small molecule inhibitors for blood cancers.
- The acquisition includes upfront and milestone payments.
- Lilly is expanding its oncology portfolio, especially in hematologic malignancies.
- Myelofibrosis is a type of blood cancer.
Entities
Institutions
- Eli Lilly
- Ajax Therapeutics
Sources
- Quartz —