Endocyte will be acquired by Novartis for $2.1 billion in cash. The deal, motivated by Novartis’ desire to acquire Endocyte’s prostrate-cancer treatment, is notable for the amount Endocyte paid for this novel treatment. Per an article in the WSJ:
“It bought an exclusive license in October of 2017 for just $12 million in upfront cash, plus an equity grant and future cash incentive payments.”