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Eli Lilly to Acquire Ajax Therapeutics for up to $2.3 Billion
Ajax’s lead drug is a Phase 1 Type II JAK2 inhibitor that Lilly says could offer deeper, more durable control for myelofibrosis and other MPNs.
- On Monday, Eli Lilly and Company announced a definitive agreement to acquire cancer drug developer Ajax Therapeutics for up to $2.3 billion in cash.
- Ajax's lead program, AJ1-11095, is a first-in-class Type II JAK2 inhibitor designed to provide deeper and more durable disease control than existing Type I therapies for myelofibrosis patients.
- Lilly is continuing an active dealmaking spree to expand its oncology pipeline, having acquired Kelonia Therapeutics for $7 billion last week.
- Jacob Van Naarden, president of Lilly Oncology, stated the firm intends to use its expertise to "hopefully deliver another important new medicine to patients and hematologists."
- Analyst Trung Huynh wrote the deal aligns with Lilly's "land grab M&A playbook" of acquiring "differentiated, mechanistically compelling" assets early, despite the company's previous internal JAK2 inhibitor failure.
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Total News Sources16
Leaning Left2Leaning Right1Center10Last UpdatedBias Distribution77% Center
Bias Distribution
- 77% of the sources are Center
77% Center
15%
C 77%
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