Ajax Therapeutics, a biopharmaceutical company developing next-generation JAK inhibitors for patients with myeloproliferative neoplasms (MPNs), announced the closing of an oversubscribed $95 million Series C funding round. The funding was led by Goldman Sachs Alternatives with participation by Eli Lilly and Company, Vivo Capital, RA Capital Management, Point72 and existing investors EcoR1 Capital, Boxer Capital, Schrödinger, Inc. and Inning One Ventures. Amit Sinha, Head of Life Sciences Investing, and Ming Cheah, PhD, Vice President of Life Sciences Investing at Goldman Sachs Alternatives, joined Ajax’s board of directors in connection with the funding.
The proceeds from the financing will support the clinical development of Ajax’s first-in-class Type II JAK2 inhibitor, AJ1‑11095, for the treatment of myelofibrosis and advance the company’s pipeline of treatments for MPNs.
AJ1-11095 was designed by Ajax, through a collaboration with Schrödinger, using structure-based drug design and computational methods at scale to selectively bind the Type II conformation of the JAK2 kinase and provide greater efficacy with disease modification compared to all currently approved JAK2 inhibitors, which bind the Type I conformation of JAK2. And AJ1-11095 has been shown in preclinical studies to maintain efficacy against MPN cells that become resistant to chronic Type I JAK2 inhibition.
KEY QUOTES:
“We’re pleased to have attracted this level of support from such distinguished life sciences investors and biopharmaceutical companies in addition to our existing investor syndicate. We are now well positioned to bring much needed innovation to the field of JAK inhibitors for the treatment of MPNs and look forward to advancing AJ1‑11095 into the clinic for myelofibrosis later this year.”
- Martin Vogelbaum, co-founder and CEO of Ajax Therapeutics
“Despite significant advances brought by the introduction of JAK inhibitors, patients with MPNs continue to have major unmet needs as current therapies, including Type I JAK2 inhibitors, often fail to provide adequate symptomatic relief and have little effect on the underlying disease. We look forward to working with Ajax’s management team to bring novel therapies, such as AJ1-11095, to patients with myelofibrosis.”
- Amit Sinha, Head of Life Sciences Investing at Goldman Sachs Alternatives
“JAK2 overactivation is central to the pathogenesis of MPNs and a Type II JAK2 inhibitor has the potential to address MPNs beyond myelofibrosis, including patients with polycythemia vera and essential thrombocythemia. We are proud to support the Company in delivering a new generation of transformational treatments for MPN patients.”
- Ming Cheah, a Vice President in Life Sciences Investing at Goldman Sachs Alternatives
“This financing reinforces the value of Ajax’s approach to inhibiting JAK2 with its Type II inhibitor, AJ1-11095. My lab has been studying Type II inhibition of JAK2 for over 10 years and we believe AJ1-11095 possesses the unique therapeutic properties and disease modifying effects of a highly selective and potent Type II JAK2 inhibitor and we’re excited to bring it to patients with MF.”
- Dr. Ross Levine, Ajax co-founder and Chair of Ajax’s Scientific Advisory Board, Senior Vice President for MH Translational Research and Member of the Human Oncology and Pathogenesis Program at Memorial Sloan Kettering Cancer Center
