ABX grants Endocyte exclusive, worldwide rights to PSMA-targeting ligand

ABX GmbH (Radeberg, Germany) granted Endocyte Inc. (NASDAQ:ECYT) exclusive, worldwide rights to develop and commercialize prostate-specific membrane antigen (PSMA; FOLH1; GCPII)-targeting ligand PSMA-617.

ABX received $12 million up front and is eligible for up to $160 million in regulatory and commercialization milestones, plus tiered royalties starting in the mid-teens. ABX will also receive 2 million Endocyte shares and warrants to purchase for up to 4 million shares at $1.39...