BioXcel gets $260 million from Oaktree and Qatar for Igalmi launch
USA-based BioXcel Therapeutics (Nasdaq: BTAI), a biopharma using artificial intelligence to develop transformative medicines in neuroscience and immuno-oncology, has announced strategic financing agreements with funds managed by Oaktree Capital Management and Qatar Investment Authority (QIA).
Under the agreements, Oaktree and QIA will provide up to $260 million in gross funding to support the company’s commercial activities of Igalmi (dexmedetomidine) sublingual film, a product indicated for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder.
"We have never been in a better position to realize our vision of becoming the leading AI-enabled neuroscience company"This financing is also intended to support the expansion of development efforts of BXCL501, which includes a pivotal Phase III program for the acute treatment of agitation in patients with Alzheimer’s disease (AD), and for its additional neuroscience and immuno-oncology clinical programs.
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