Eli Lilly to acquire Ajax Therapeutics in $2.3bn oncology deal

Eli Lilly has agreed to acquire Ajax Therapeutics in a deal worth up to $2.3 billion, strengthening its position in blood cancer research. The acquisition brings Ajax’s pipeline of next generation JAK inhibitors into Lilly’s portfolio, with a focus on rare conditions such as myelofibrosis.

At the centre of the agreement is Ajax’s lead candidate, a once daily oral therapy currently in early clinical development. It is designed to target patients who no longer respond to existing treatments, addressing a significant unmet need in this disease area.

The move reflects Lilly’s continued investment in oncology, as it looks to diversify beyond its strong cardiometabolic franchise. The company has recently pursued a series of mid sized acquisitions to expand its pipeline and accelerate innovation.

By integrating Ajax’s research capabilities, Lilly aims to advance more durable treatment options for patients with blood cancers. The deal also highlights ongoing momentum in biotech mergers and acquisitions, particularly in targeted therapies for complex diseases.