Eli Lilly to buy Ajax therapeutics for up to $2.3 billion

Monday 27 April 2026 - 12:45

Eli Lilly and Company has announced an agreement to acquire the privately held biotechnology firm Ajax Therapeutics in a deal valued at up to $2.3 billion in cash. The move strengthens Lilly’s position in the oncology sector, particularly in the development of treatments for rare blood cancers.

Ajax Therapeutics is currently developing AJ1-11095, an experimental oral drug taken once daily. The treatment is in early-stage clinical testing and is being evaluated for patients who have previously been treated for myelofibrosis, a rare and chronic blood cancer that affects the bone marrow and disrupts normal blood cell production.

According to Eli Lilly, the acquisition includes an initial payment along with additional payments that depend on the achievement of specific clinical and regulatory milestones. The company expects important clinical data for AJ1-11095 to be presented in 2026, which could support its progression into later-stage registrational trials.

Jacob Van Naarden, president of Lilly Oncology, stated that the company aims to advance the candidate drug rapidly and leverage its expertise in blood cancers to potentially deliver a new therapeutic option for patients and healthcare professionals.

This acquisition reflects Eli Lilly’s continued investment in innovative cancer treatments and its strategy to expand its oncology pipeline through targeted biotechnology partnerships.