AK-2292 is a potent and highly selective STAT5 PROTAC degrader. AK-2292 induces STAT5A/B protein degradation in vitro and in vivo, as well as excellent selectivity for all other STAT proteins and more than 6,000 non-STAT proteins, resulting in the selective inhibition of STAT5 activity in the cell. AK-2292 effectively induces STAT5 degradation in normal mouse tissues and human chronic myeloid leukaemia (CML) mouse xenografts. It also effectively inhibits the growth of acute myeloid leukaemia (AML) cell lines.