There have been several interesting developments in the life sciences industry in the Midwest this month.
Endocyte, a biopharmaceutical company developing targeted therapies for the treatment of cancer and inflammatory diseases, announced on February 4 the pricing of its initial public offering of its common stock. Endocyte is based in West Lafayette and intends to utilize the proceeds from the IPO to fund its phase 3 clinical trial related to the use of EC145 and EC20 in platinum-resistant ovarian cancer and to move preclinical products forward in the development process.
Danaher Corp. climbed to the highest price since 1980 after agreeing to pay $6.8 billion for diagnostic-equipment maker Beckman Coulter Inc. amid higher demand for medical tests from an aging U.S. population. The Brea, California based Beckman manufactures products used to diagnose diseases and in the development of new drugs, including centrifuges, hematology analyzers and cell sorters. Beckman has a facility in Indianapolis that employs several hundred people.
See more on Beckman.
Marcadia Biotech Inc., a Carmel-based biopharmaceutical company founded by former Eli Lilly and Co. executives in 2006, has been acquired by Swiss life sciences giant Roche. Roche’s holdings include Roche Diagnostics in Indianapolis, which has about 3,500 local employees. Marcadia is a relatively small firm, but has raised millions in venture capital.
Read more about Marcadia.
I look forward to seeing the continual progression and development of businesses in our area.