NewsHealth / October 18, 2018

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

Endocyte was founded in Purdue Research Park and has been working for more than two decades to develop personalized cancer treatments.Endocyte, Novartis, Purdue Research Park, pharmaceuticals2018-10-18T00:00:00-04:00
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.

 

 

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