Novartis in $2.1 billion Endocyte buy, adds to its oncology pipeline

In addition to yesterda’s announcement of moving to buy CAR-T cell producer CellforCure from LFB, Novartis today announced that it acquired another biopharmaceutical company focused on developing radioligand and CAR-T therapies for cancer treatment, the US based Endocyte, Inc.

Endocyte,s stockholders approved the merger agreement to which Novartis AG will acquire Endocyte for $24 per share, or a total equity value of approximately $2.1 billion, in cash.

With the purchace, Novartis adds 177Lu-PSMA-617, a potential first-in-class radioligand therapy in Phase III development for metastatic castration-resistant prostate cancer (mCRPC).