Endocyte

A recent Bloomberg report noted that “Loyal investors who stuck with Endocyte Inc. during a three-and-a-half year slump are celebrating today after a [$2.1 billion] Novartis AG buyout offer sent shares of the cancer drug biotech soaring. But those who lost patience in Endocyte are left to wonder what might have been.  Endocyte rallied more than 1,600 percent in the past 13 months … “

Graham Kelly recognised the potential (and limitations) of 617-PSMA therapy when Endocyte was unloved by investors; and reckoned that Veyonda would overcome the limitation of early relapse.  St Vincent’s hospital is conducting the LuPIN trial in which Veyonda is supplied by Noxopharm and 617-PSMA is supplied by Endocyte; so you can bet that Endocyte (and Novartis) are keeping an eye on results.

The Novartis buyout offer of $2.1 billion for Endocyte shows what big pharma is willing to pay for promising drugs.  The recent decision by St Vincent’s to increase the number of combination patients suggests that they have seen something they like.

It is nice to know that one of Noxopharm’s ‘sleeper’ programs might one day be worth quite a bit.