IBJNews

Cancer drug developer Endocyte files for IPO

Back to TopCommentsE-mailPrintBookmark and Share

Biopharmaceutical company Endocyte Inc., encouraged by the development of its cancer-fighting drugs, said Tuesday it has filed for an initial public offering.

The company, headquartered at Purdue University Park in West Lafayette, said the number of shares to be offered and their price range have yet to be determined.

Los Angeles-based Wedbush PacGrow Life Sciences and Milwaukee-based Baird will co-manage the offering.

Endocyte has a pipeline of drugs in development for the treatment of various cancers and inflammatory diseases, including six drugs in clinical trials.

At the World Conference on Lung Cancer in San Francisco last August, Endocyte announced positive results for its lead drug, EC145, in a Phase II non-small-cell lung cancer study.

And, in October, the company closed on $26 million in equity financing to help it continue developing the drugs.

Marcus Chandler, chairman of Barnes & Thornburg LLP’s entrepreneurial services practice group, said the IPO helps validate the state’s efforts to become a life sciences hub.

“Those [companies] that have been successful have merged into public companies,” he said, “so the Endocyte IPO is huge news and a huge step forward in creating credibility for our claim in Indiana to be a life sciences center.”

In any industry, IPOs always have been scarce in Indiana. Last year, there were just two. Evansville-based infant-formula-maker Mead Johnson Nutrition Co. staged a $782 million IPO in February, then promptly moved its headquarters to the Chicago area. In its December IPO, Carmel-based used-vehicle auctioneer KAR Auction Services Inc. raised $300 million.

Endocyte’s IPO is the third announced so far this year in Indiana. Fort Wayne-based Vera Bradley Inc., a handbag maker, filed plans last month to raise $175 million. Evansville-based UCI International, a supplier of replacement parts for the light- and heavy-duty vehicle aftermarket, said in July it plans to raise $200 million.

Nationally, the IPO market looks to be improving. So far this year 170 have been filed, topping the 119 filed in 2009 and the 153 in 2008.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

ADVERTISEMENT