There's not really a direct equivalent to Server.CreateObject in .NET since everything is strongly typed, though you might be able to use System.Type.GetTypeFromProgID and invoke various methods using InvokeMember (Ick). Something like:
Type proxyType = System.Type.GetTypeFromProgID("JMail.Message");
object proxy = Activator.CreateInstance(proxyType);
object result = proxyType.InvokeMember("MemberName",
// System.Reflection.BindingFlags
null,
proxy,
// An object array with your parameters for this call
);
The best solution is probably to create a COM wrapper around your library, and reference it in your solution.
If you could provide some more details about what exactly your code does, perhaps someone could suggest a native way to accomplish that in .NET. For example, if you're just trying to send email or something, there's a million ways to do that in .NET.
Update: Just get JMail.NET, no need to deal with old ActiveX libraries anymore.
Server.CreateObjectbrings back (mostly bad) memories of ASP Classic and VB6 development at my first job. I do no envy your situation of needing to port this over. Best of luck