December 2018

Endocyte Acquired by Novartis in $2.1B Agreement

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Faegre Drinker represented Endocyte, Inc. in its December 2018 sale to Novartis for $2.1 billion.

Endocyte is a biopharmaceutical company and leader in developing targeted therapies for the personalized treatment of cancer. 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.

Faegre Drinker represented Endocyte for nearly a decade prior to the sale, which included advising on two public offerings in 2018 that raised a total of nearly $300 million.

The team advising Endocyte included a collaborative team across the firm, including the areas of M&A, corporate governance, fiduciary duty compliance, litigation avoidance strategy, tax, antitrust, CFIUS, employee benefits, executive compensation, intellectual property, FDA, employment and real estate.

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