Endocyte prices initial public offering

Endocyte, Inc. (Nasdaq:ECYT), a biopharmaceutical company developing targeted small molecule drug conjugates, announced today the pricing of its initial public offering of 12,500,000 shares of its common stock. All shares were sold at an initial public offering price of $6.00 per share, before underwriting discounts and commissions. All of the common stock is being offered by Endocyte. In addition, Endocyte has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares to cover over-allotments, if any. The common stock will trade on the NASDAQ Global Market under the symbol "ECYT." The offering is expected to close on February 9, 2011, subject to customary closing conditions.

RBC Capital Markets, LLC and Leerink Swann LLC are the joint bookrunning managers for the offering. Wedbush PacGrow Life Sciences and Baird are co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on February 4, 2011. The public offering was made by means of a written prospectus, copies of which may be obtained by calling RBC Capital Markets, LLC toll-free at (877) 822-4089 or Leerink Swann LLC toll-free at (800) 808-7525 ext. 4814.