Endocyte Hits $1.5B Mark

Posted: Updated:
(Image courtesy of Endocyte) (Image courtesy of Endocyte)
WEST LAFAYETTE -

Purdue University says West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) has become its first startup to reach $1.5 billion in value. The company says its drug platforms in various stages of development and clinical trials are showing promising results in treating conditions including advanced prostate cancer and pediatric bone cancer.

Endocyte was founded in the Purdue Research Park, with most of its technology based on research by Purdue Presidential Scholar in Drug Discovery Philip Low. He currently serves as the company's chief science officer. The company has more than 75 employees in West Lafayette and Indianapolis.

The company made one of its biggest moves in the fall of 2017, when it acquired a late-stage prostate cancer therapy in a $12 million deal with Germany-based ABX GmbH. At the time, Chief Executive Officer Mike Sherman said, while the word transformational can be overused, "In this case, the word is absolutely fitting." During a conference call announcing the acquisition, he said the therapy could put Endocyte in a leading position in a $1 billion market.

  • Perspectives

    • What Do Customers Really Think of You?

      Ask a business owner how her customers think about the services they receive or the products they use, and you’ll hear comments like "they love us." But when a third party asks those customers the same question, the results can be eye-opening. I recently shared the story about developing a customer profile for a professional services firm that was eager to grow but lacked useful marketing intelligence about the business it was already handling. We helped them...

    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

    • Scotty's Brewhouse Files For Bankruptcy

      Indianapolis-based Scotty's Brewhouse has filed for Chapter 11 bankruptcy protection. The company says the decision was "driven largely by the challenges of some specific locations and was necessary because of the way the company was structured corporately." As a result of the deal, Scotty's will close four of its restaurants by the end of the year. In a news release provided to Inside INdiana Business...

    • $600M Waste-to-Fuel Plant Coming to Gary

      A California-based renewable jet fuel and diesel producer has announced plans for a massive investment in northwest Indiana. Fulcrum BioEnergy Inc. says it will invest $600 million to build the Centerpoint BioFuels Plant in Gary, which will convert municipal solid waste into renewable transportation fuel. The project is expected to create up to 163 jobs by the end of 2022. The Indiana Economic Development Corp. says Centerpoint will be located at an industrial site that will be...

    • Eleven Fifty Eyes Statewide Growth

      Eleven Fifty Academy, which began in founder Scott Jones' Carmel house and moved to Launch Fishers, is now looking to go statewide. The coding academy is considering communities including Fort Wayne, Gary, Valparaiso and Terre Haute. Jones says the academy boasts a 93 percent graduation rate, with 81 percent finding jobs within the first two months. "No training environment in the state, no college or university is coming close to those kinds of impacts in that short amount...

    • Dept. of Labor Honors Eleven Fifty

      Fishers-based Eleven Fifty Academy says it is the first in Indiana and one of just a few in the nation to be recognized by the U.S. Department of labor as a registered software development apprenticeship program. The department is taking part in a ceremonial signing with the academy this morning at Eleven Fifty's headquarters in Launch Fishers. Founder Scott Jones says, with tens of thousands of tech jobs available in Indiana, the designation shows Eleven Fifty is...

    • Four Myths When Selling Your Company

      Selling your company can present a winding maze of important decisions and unforeseen considerations. Often the excitement of a potential deal can overshadow some of the underlying complexities that are essential to consider for the deal to run smoothly and for you to achieve your desired outcome. Here are four common myths about the deal process that can inhibit a deal’s timing and get sellers stuck in the maze. 1. Myth – Any money is good money. Reality ...