October 18, 2018

West Lafayette-Based Endocyte Aquired For $2.1 Billion By Pharma Giant Novartis

Samantha Horton
Article origination IPBS-RJC
West Lafayette-Based Endocyte Aquired For $2.1 Billion By Pharma Giant Novartis

West Lafayette-Based Endocyte Aquired For $2.1 Billion By Pharma Giant Novartis

Swiss pharmaceutical giant Novartis says it will acquire West Lafayette-based Endocyte for $2.1 billion.

Endocyte was founded in Purdue Research Park and has been working for more than two decades to develop personalized cancer treatments that are more targeted to a specific patient’s cancer than traditional, broad-spectrum radiation therapy.

In the company’s press release, Endocyte president and CEO Mike Sherman says the acquisition will allow for a prostate cancer drug that’s now in late-stage clinical trials to have what he calls better "global reach" with Novartis’s expertise.

Earlier this month, Endocyte was the first Purdue startup to reach $1.5 billion in valuation.

Company executives did not respond to a request for comment.

Tags:Purdue Universitypharmaceuticals
Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.

 

Related News

A look at the biggest greenhouse gas polluters in Indiana, Kentucky and nearby states
Health / January 6, 2025

A look at the biggest greenhouse gas polluters in Indiana, Kentucky and nearby states

U.S. industry is a major source of the greenhouse gas pollution causing climate change. Some operations emit way more than others, and new reports show where they are.
Read More
Indiana to receive up to $100 million from Purdue Pharma, Sackler family opioid settlement
Health / June 16, 2025

Indiana to receive up to $100 million from Purdue Pharma, Sackler family opioid settlement

Indiana state and local governments expect to receive up to $100 million over the next 15 years from a settlement with one of the companies and families accused of fueling the country's opioid abuse crisis.
Read More
FSSA leader says he 'never' would have pursued Pathways, program more than $300 million over budget
Health / June 10, 2025

FSSA leader says he 'never' would have pursued Pathways, program more than $300 million over budget

The top official at the Indiana Family and Social Services Administration said the state's new long-term care program for Medicaid members over 60 hasn't met expectations. The statement contradicts claims the agency made under the previous administration, but aligns with concerns providers have raised.
Read More