Endocyte to Advance Development of EC1069, a PSMA-Targeted Small Molecule Drug Conjugate Therapy for Prostate Cancer

Endocyte to Advance Development of EC1069, a PSMA-Targeted Small Molecule Drug
Conjugate Therapy for Prostate Cancer

          Company Expects to File IND for Therapeutic Agent in 2013

Human Study of Companion Imaging Agent EC0652 Demonstrates Safety and Binding

WEST LAFAYETTE, Ind., Jan. 29, 2013 (GLOBE NEWSWIRE) -- Endocyte, Inc.
(Nasdaq:ECYT), a biopharmaceutical company developing targeted small molecule
drug conjugates (SMDCs) and companion imaging diagnostics for personalized
therapy, today announced the achievement of key objectives in a Phase 0 study
of EC0652, a diagnostic imaging agent targeting prostate specific membrane
antigen (PSMA), a protein expressed on cancer cells originating from the
prostate as well as on tumor neovasculature. Based on the observed safety of
the agent and its specificity for binding to diseased cells, Endocyte is
advancing the development of both the diagnostic imaging agent, EC0652, and
the corresponding therapeutic agent, EC1069, a proprietary PSMA-targeted SMDC
linked with the potent anti-cancer drug tubulysin. Endocyte expects to file an
Investigational New Drug (IND) application for EC1069 by the end of 2013.

The new prostate cancer imaging agent EC0652, also termed DUPA-^99mTc, is a
conjugate of a high affinity PSMA-targeting ligand, 2-[3-(1, 3-dicarboxy
propyl)-ureido] pentanedioic acid (DUPA) to technetium 99m (^99mTc). The
discovery process utilized a unique structure-based drug design approach to
synthesize the ideal targeting ligand for binding to PSMA. The corresponding
SMDC, EC1069, utilizes the same targeting ligand.

"DUPA has demonstrated excellent localization to prostate cancer regionally
and at distant sites," said Thomas A. Gardner, M.D., professor of urology at
Indiana University Health. "These results encourage us to investigate this
novel agent for both imaging and therapeutic applications for prostate

"We have generated a number of unique development methods to optimize the
design of our targeting ligands and maximize specificity, and our approach is
yielding superior results with new ligands of much higher specificity than
other methods," commented Philip Low, Ph.D., Endocyte's chief science officer.
"We are also using this approach to develop ligands to target several other
diseases as we continue to expand our SMDC platform."

The imaging study is being led by the Purdue University Center for Cancer
Research and performed at the Department of Urology at the Indiana University
School of Medicine. Detailed results of this study are anticipated to be
presented at an upcoming medical conference.

About Endocyte

Endocyte is a biopharmaceutical company developing targeted therapies for the
treatment of cancer and inflammatory diseases.Endocyte uses its proprietary
technology to create novel SMDCs and companion imaging diagnostics for
personalized targeted therapies.The company's SMDCs actively target receptors
that are over-expressed on diseased cells, relative to healthy cells.This
targeted approach is designed to enable the treatment of patients with highly
active drugs at greater doses, delivered more frequently, and over longer
periods of time than would be possible with the untargeted drug alone.The
companion imaging diagnostics are designed to identify patients whose disease
over-expresses the target of the therapy and who are therefore more likely to
benefit from treatment.

For additional information, please visit Endocyte's website at

Forward-Looking Statements

Certain of the statements made in this press release are forward-looking, such
as those, among others, relating to future regulatory filings, development of
effective targeting ligands, and expansion of Endocyte's SMDC platform.Actual
results or developments may differ materially from those projected or implied
in these forward-looking statements.Factors that could cause such a
difference include risks of delays in conducting studies required for
regulatory filings (which delays might be caused, for example, by
unanticipated challenges in manufacturing compounds on the scale necessary to
conduct such studies), technical and scientific risks associated with
developing targeting ligands with superior specificity or other
characteristics, and risks related to the safety and efficacy of Endocyte's
product candidates.More information about the risks and uncertainties faced
by Endocyte is contained in its periodic reports filed with the Securities and
Exchange Commission.Endocyte disclaims any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

CONTACT: Stephanie Ascher, Stern Investor Relations, Inc.,
         (212) 362-1200, stephanie@sternir.com

         Martina Schwarzkopf, Ph.D., Russo Partners,
         (212) 845-4292, martina.schwarzkopf@russopartnersllc.com

         Tony Russo, Ph.D., Russo Partners,
         (212) 845-4251, tony.russo@russopartnersllc.com
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