WEST LAFAYETTE, Ind., Aug. 2, 2012 (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 that the company has secured DOXIL® (doxorubicin HCl liposome injection) supply from Janssen Products, LP, to supplement existing supply already in place to support the ongoing Phase 3 PROCEED trial in ovarian cancer. The PROCEED trial compares vintafolide in combination with DOXIL versus DOXIL alone for the treatment of folate-receptor positive platinum resistant ovarian cancer.

"The supply of DOXIL announced today adds to our flexibility in meeting the ongoing needs of the PROCEED trial so we may continue to enroll patients without interruption," said Ron Ellis, president and CEO at Endocyte. "We will continue to work closely with Janssen to ensure that DOXIL supply allows the PROCEED trial to remain on schedule. Current estimates call for new supply of DOXIL to be available by the end of the year."

About the PROCEED Trial

The PROCEED trial is a Phase 3 randomized, double-blind clinical trial evaluating Endocyte's drug candidate vintafolide in combination with DOXIL compared to DOXIL plus placebo for the treatment of folate-receptor positive platinum-resistant ovarian cancer. The primary endpoint of the trial is progression-free survival as measured by RECIST (Response Evaluation Criteria in Solid Tumor) criteria in patients with folate-receptor positive tumors assessed by etarfolatide imaging. Overall survival is a secondary endpoint. The trial anticipates recruiting more than 400 patients at approximately 150 sites in the U.S., Canada, Europe, and Asia. For further information regarding the PROCEED trial please visit http://www.clinicaltrials.gov.

About Endocyte

Endocyte is a biopharmaceutical company developing targeted therapies for the treatment of cancer and inflammatory diseases. Endocyte uses its innovative 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 targeted treatment.

For additional information, please visit Endocyte's website at www.endocyte.com.

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