Deals
Endocyte With Cancer Drug Is Prize Worth Top Premium: Real M&A
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Now that Endocyte Inc.’s experimental cancer treatment is proving successful, the company may command a takeover bid at one of the industry’s highest premiums on record.
Endocyte surged last week after saying its vintafolide drug slowed the progression of lung cancer and won European backing to treat ovarian cancer. The results suggest the company’s treatment approach is effective and could spark a takeover by Merck & Co., which already has a partnership with Endocyte, said Royal Bank of Canada. AstraZeneca Plc or Roche Holding AG also could be interested, according to Cowen Group Inc.