Endocyte Bullish on Potential Blockbuster

Posted: Updated:
(image courtesy of Endocyte) Mike Sherman previously served as chief financial officer and helped the company transition to being publicly-traded. (image courtesy of Endocyte) Mike Sherman previously served as chief financial officer and helped the company transition to being publicly-traded.
WEST LAFAYETTE -

The chief executive officer of West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) is using a word to describe the company's $12 million worldwide licensing acquisition of a late-stage prostate cancer therapy that he says is often overused: transformational. "In this case, the word is absolutely fitting," said Mike Sherman during a conference call with investors detailing the deal with Germany-based ABX GmbH. Endocyte has been working to reverse a series of quarterly losses in recent years, including a major restructuring and work force reduction announced in June.

Sherman has an ambitious timeline for PSMA-617, which he says could begin the clinical trial process early next year and complete trial stages as early as 2020. "Our experience with PSMA targeting and companion imaging development, in addition to our relationships with distinguished prostate cancer investigators from around the world, uniquely position Endocyte to lead this therapy to registration," Sherman said in a statement. During Monday's conference call, he added the therapy, if it meets approvals, would position Endocyte in a leading position in a $1 billion prostate cancer-fighting market.

Sherman and Chief Medical Officer Alison Armour say the high potential of the prostate-specific membrane antigen presents a rare opportunity. "Despite advances in the last decade that slow the progression of prostate cancer, once metastasized it is nearly always lethal, leading to 300,000 worldwide deaths annually," said Armour. "177Lu-PSMA-617 has demonstrated the most compelling activity of any drug currently in development for these post-chemotherapy patients."

Aside from a "very targeted" proof-of-concept data effort for the company's CAR T-cell program, Sherman says Endocyte's resources will be focused on developing the promising prostate cancer therapy. Additionally, "we will explore out-licensing opportunities for all other development programs," he said.

Down the line, Sherman says Endocyte has an opportunity to develop a pipeline of similar therapies that target other deadly diseases. He has served in c-level roles with the company for the last 11 years and in mid-2016, succeeded co-founder Ron Ellis as president and CEO.

Mike Sherman has an ambitious timeline for PSMA-617, which he says could begin the clinical trial process early next year and complete trial stages as early as 2020.
  • Perspectives

    • Want to Build a Culture of Experimentation? Embrace Failure First

      Failure. It’s not something all business leaders are comfortable embracing, yet it’s integral to success. That’s because failure signals attempt - and without those undertakings, none of the world’s greatest inventions would have ever come to fruition. So when company leaders decide they want to cultivate a culture of experimentation within their company, it’s important they understand the value of embracing failure. It’s not only a great way to...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Indy Airport to Introduce New Airline

      Indianapolis International Airport will today host an event to welcome a new airline. Airport officials say the provider will add more routes to IND's growing roster of options. Earlier this month, the airport reported record-breaking traffic in the third quarter. IND said the more than 2.4 million passengers that passed through the airport in the third quarter of 2018 marked an 8 percent year-to-date increase over last year and the best third quarter in the facility's history.

    • IND Adds New Airline, Nonstop Routes

      A Florida-based airline, billing itself as an "ultra low-cost carrier," is coming to Indianapolis International Airport. Spirit Airlines Inc. (NYSE: SAVE) will begin daily, nonstop service to Las Vegas and Orlando in March, and add summer seasonal nonstop service to Myrtle Beach in May. Vice President For Capacity Planning Mark Kopczak says the airline sees "real potential for growth" in those routes, adding IND has done a good job "selling Indy as a place...

    • FFA Bid Draws 'Fierce' Competition

      Visit Indy says the National FFA Organization's decision to keep its annual convention in Indianapolis is the result of nearly a year of negotiations. The Indy-based organization Tuesday announced Indianapolis would continue to host the event through 2031. Chris Gahl, senior vice president of marketing and communications with Visit Indy, says the FFA needed to book the convention that far out for various reasons, including date availability, space requirements and the competitive...

    • Ribbon Cutting Set For New Crane Complex

      The second largest tenant at Naval Surface Activity Crane in southwest central Indiana will Wednesday celebrate the opening of a new effort at the installation. Crane Army Ammunition Activity will cut the ribbon on the multi-million-dollar Crane Flexible Manufacturing Complex.

    • Crouch: New 'Stellar' Approach Brings More Collaboration

      Lieutenant Governor Suzanne Crouch says the state's new regional approach to the Stellar Communities Designation Program has fostered more collaboration among communities throughout the state. The 2018 winners were unveiled Tuesday with regions in east central and northeast Indiana receiving the designation. Crouch and the Indiana Office of Community and Rural Affairs announced at the beginning of the year the program would go from a single community focus to a regional one.