About 500 million years ago, the two sister groups of vertebrates independently evolved alternative forms of adaptive immunity, representing a striking example of convergent evolution. Whereas the components and functions of the immune system in jawed vertebrates (ranging from sharks to humans) are well characterized, much remains to be learned about adaptive immunity in jawless vertebrates (lampreys and hagfishes). The ImmUne project has addressed the development of lymphocyte lineages, identifying several T cell lineages, and the structure of primary lymphoid organs, focusing on the thymus equivalent, and has identified the first components of a quality control system that ensures the generation and selection of a self-tolerant repertoire of somatically diversifying antigen receptors. Our results indicate that whereas the cellular aspects of the adaptive immune system of lampreys are very similar to those known from jawed vertebrates, the molecular underpinnings of antigen receptor structure, assembly, and selection in lampreys differ substantially. Our results thus illuminate an alternative solution to the problem of adaptive immunity in this distinct branch of vertebrates, and highlight a unique case of convergent evolution.