October 18, 2018

FaegreBD Represents Endocyte in $2.1B Agreement to be Acquired by Novartis

Endocyte, Inc. has agreed to be acquired for cash by Novartis AG through a merger that values Endocyte at approximately $2.1 billion, which represents a premium of 54% to Endocyte’s prior day closing price. Faegre Baker Daniels is serving as counsel to Endocyte in this deal.  Completion of the transaction is expected in the first half of 2019, subject to approval by Endocyte stockholders, antitrust and regulatory approvals and other customary closing conditions. 

Endocyte is a biopharmaceutical company and leader in developing targeted therapies for the personalized treatment of cancer. The company's drug conjugation technology targets therapeutics and companion imaging agents specifically to the site of diseased cells. Endocyte's lead program is a prostate specific membrane antigen (PSMA)-targeted radioligand therapy, 177Lu-PSMA-617, in phase 3 for metastatic castration-resistant prostate cancer (mCRPC) for PSMA-positive patients. Endocyte also expects to have an Investigational New Drug application submitted in the fourth quarter of 2018 for its adaptor-controlled CAR T-cell therapy which will be studied initially in osteosarcoma. 

Read Endocyte's press release

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Taylor Teppen

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