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Endocyte shareholders approve Novartis' $2.1B acquisition offer

Endocyte Inc.'s shareholders have approved Novartis AG's proposed acquisition of the West Lafayette, Ind., company for $2.1 billion.

The acquisition, expected to close Dec. 21 at $24 per share, received 99.8% of the shareholder votes.

Endocyte specializes in personalized cancer treatments, particularly in prostate cancer. The company has an investigational radioligand therapy, Lu-PSMA-617, in late-stage trials for metastatic castration-resistant prostate cancer.

Previously, Endocyte's board of directors unanimously approved the Swiss company's merger deal.