"The deal is that it simply didn't work out," the statement read. "Sometimes the best creative relationships are the most combustible and they aren't meant to last forever."
The group (including original bassist Eric Avery) formed in Los Angeles in 1984 and released two influential studio albums, 1988's Nothing's Shocking and 2000's Ritual de lo Habitual. The group split after headlining the inaugural Lollapalooza Festival -- the brainchild of frontman Perry Farrell -- in 1991.
Ten years later, the members of Jane's announced their plans for a reunion. A new studio set, Strays, was released last year to lukewarm commercial response.
The news falls just days after Farrell had to announce the cancellation of this summer's Lollapalooza due to poor ticket sales.