BioXcel forms oncology subsidiary to free up neuroscience focus
At the same time as announcing strategic financing agreements worth $260 million, USA-based BioXcel Therapeutics (Nasdaq: BTAI) has revealed the formation of wholly-owned subsidiary OnkosXcel Therapeutics to develop transformative medicines in oncology.
OnkosXcel is focused on the sustained expansion and optimization of the oncology franchise, while providing maximum strategic and financial flexibility, and will progress the development of BXCL701, an investigational orally administered innate immune activator designed to initiate inflammation in the tumor microenvironment.
BXCL701 is being evaluated in combination with Merck & Co’s (NYSE: MRK) immuno-oncology blockbuster Keytruda (pembrolizumab) in an ongoing Phase II trial in metastatic castration-resistant prostate cancer patients with either adenocarcinoma or small cell neuroendocrine carcinoma phenotype.
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