BioXcel gets $260 million from Oaktree and Qatar for Igalmi launch

19 April 2022

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.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK