BioXcel Therapeutics completed the sale of substantially all its neuroscience assets, including rights to IGALMI and BXCL501, to Teva Pharmaceuticals International GmbH for an upfront cash payment of $57.5 million. The transaction, approved by the U.S. Bankruptcy Court in Delaware, allows Teva to assume certain specified liabilities while BioXcel retains rights to BXCL701 and BXCL702. Proceeds were applied to repay debtor-in-possession financing as the company winds down its estate. BioXcel Therapeutics operates in the biotechnology industry, developing neuroscience treatments.
