Endocyte, which is developing small molecule drug conjugates to treat cancer and inflammatory diseases, announced terms for its IPO on Wednesday. The West Lafayette, IN-based company plans to raise $75 million by offering 5.35 million shares at a price range of $13-$15. At the mid-point of the proposed range, Endocyte will command a market value of $293 million. Endocyte, which was founded in 1995 and has yet to generate product revenue, plans to list on the NASDAQ under the symbol ECYT. RBC Capital Markets and Leerink Swann are the lead underwriters on the deal, for which timing was not disclosed.
