On heels of psych drug approval, BioXcel dives head first into oncology R&D with new cash infusion
Two weeks after New Haven, CT biotech BioXcel Therapeutics won FDA approval for the psychiatric drug Igalmi, the biotech is making a major new move: pivoting its focus to commercialization and spinning out much of the rest of its pipeline into a new company.
The biotech announced early Tuesday that they have entered into strategic financing agreements with funds managed by two firms: Oaktree Capital Management and Qatar’s sovereign wealth fund, Qatar Investment Authority. Combined, the two funds will net BioXcel up to $260 million.
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