Ajax Therapeutics Secures $95M Series C for AJ1-11095 JAK2 Inhibitor Clinical Trials

Ajax Therapeutics, Inc., a biopharmaceutical company focused on developing advanced JAK inhibitors for myeloproliferative neoplasms (MPNs), has successfully completed a $95 million Series C financing round. This oversubscribed funding will be utilized to advance the clinical development of their pioneering Type II JAK2 inhibitor, AJ1-11095, aimed at treating myelofibrosis, and to further progress their pipeline of MPN treatments.

The financing round was led by Goldman Sachs Alternatives, with new investors including Eli Lilly and Company, Vivo Capital, RA Capital Management, and Point72 joining existing investors such as EcoR1 Capital, Boxer Capital, Schrödinger, Inc., and Inning One Ventures. As part of this financing, Amit Sinha, Head of Life Sciences Investing, and Ming Cheah, PhD, Vice President within Life Sciences Investing at Goldman Sachs Alternatives, have been appointed to Ajax’s board of directors.

Martin Vogelbaum, co-founder and CEO of Ajax Therapeutics, expressed his gratitude for the robust support from prestigious life sciences investors and biopharmaceutical companies. He emphasized that the company is now well-positioned to introduce innovative solutions in the realm of JAK inhibitors for MPNs, particularly with the advancement of AJ1-11095 into clinical trials for myelofibrosis anticipated later this year.

Developed in collaboration with Schrödinger, AJ1-11095 leverages structure-based drug design and computational methods to selectively bind the Type II conformation of the JAK2 kinase. This design aims to offer superior efficacy and disease modification compared to current Type I JAK2 inhibitors. Preclinical studies have shown that AJ1-11095 maintains its effectiveness against MPN cells that develop resistance to chronic Type I JAK2 inhibition.

Amit Sinha of Goldman Sachs Alternatives highlighted the ongoing challenge faced by MPN patients, who often do not achieve sufficient symptomatic relief with current therapies, including Type I JAK2 inhibitors. He expressed optimism about collaborating with Ajax’s management team to bring groundbreaking treatments like AJ1-11095 to these patients.

Ming Cheah also noted the central role of JAK2 overactivation in MPN pathogenesis and the potential of a Type II JAK2 inhibitor to address various MPNs beyond myelofibrosis, such as polycythemia vera and essential thrombocythemia. He affirmed Goldman Sachs Alternatives' commitment to supporting Ajax in delivering a new generation of transformative treatments for MPN patients.

Dr. Ross Levine, co-founder of Ajax and Chair of the company’s Scientific Advisory Board, emphasized the unique therapeutic properties and disease-modifying potential of AJ1-11095. With over a decade of research on Type II JAK2 inhibition, Dr. Levine expressed excitement about bringing this novel treatment to patients with myelofibrosis.

Ajax Therapeutics is dedicated to developing precisely designed therapies for MPNs by combining deep cancer and structural biology insights from its founding scientists with advanced computational drug discovery and protein structure platforms. Their goal is to address the significant unmet needs of MPN patients through innovative treatments.