NEW HAVEN, Conn., July 31, 2018 (GLOBE NEWSWIRE) -- BioXcel Therapeutics, Inc. (“BTI”) (Nasdaq:BTAI), a clinical stage biopharmaceutical development company utilizing novel artificial intelligence approaches to identify the next wave of medicines across neuroscience and immuno-oncology, today announced the appointment of Vikas Sharma as Vice President of Business Development, effective immediately. Dr. Sharma will be responsible for leading BTI’s strategic business development initiatives including global licensing and partnerships for our lead assets as well as emerging pipeline.
Dr. Vimal Mehta, Founder and Chief Executive Officer of BTI, commented, “Vikas joins BTI at a pivotal time in its clinical and strategic development as well as overall growth. We believe Vikas is a strong leader with a track record of successful business development transactions which we expect will translate well to his work at BTI. In addition, he is well versed in global pharmaceutical industry transactions with strong experience and expertise in various geographies.”
Dr. Mehta added, “BTI has a strong portfolio of candidates in immuno-oncology and neuroscience with novel mechanisms of action which we believe has significant value creation potential. Particularly, we believe BXCL701, our lead immuno-oncology program, has potential beyond its current trials in pancreatic cancer and treatment emergent prostate cancer (tNEPC). With Vikas’ deep background in immuno-oncology and extensive industry network, we believe he will help drive our business development initiatives for current programs as well as our emerging pipeline. We are thrilled to have Vikas join BTI’s leadership team and look forward to pursuing select strategic partnerships.”
“BTI has an opportunity to create significant value through development of its pipeline programs by entering strategic partnerships with biotech and pharmaceutical companies in neuroscience and immuno-oncology space. I'm excited to become a part of a world class leadership team at such an important crossroad in its development. I look forward to leveraging BTI’s current portfolio, its AI-powered drug development approach and my business development experience to advance its growth,” said Mr. Sharma.
Dr. Sharma has over 12 years of experience in business development activities across the pharma landscape. He has led multiple complex deals that involved upfront, milestone and royalty payments. Most recently Dr. Sharma was the director, business development at MacroGenics where he played an instrumental role in leading licensing deals with companies such as Incyte Corporation, Roche, and Janssen Pharmaceuticals. Prior to joining MacroGenics, Dr. Sharma served as the director, business development at Rexahn Pharmaceuticals where he led the due diligence and execution of licensing deals, M&A as well as capital markets transactions. Previously, he served as manager, business development for MedImmune (the global biologics business of AstraZeneca), where he executed multiple licensing transactions. Prior to that, Dr. Sharma served in a business development role with increasing responsibilities at Children’s Hospital of Philadelphia, Bradley Pharmaceuticals and Advanced Bioadjuvant.
Dr. Sharma earned a second master’s degree and a doctorate in biology from Rutgers University. He completed his bachelor’s degree and master’s degree in microbiology from the University of Mumbai, India. He has authored multiple peer-reviewed publications and conference presentations.
About BioXcel Therapeutics, Inc.:
BioXcel Therapeutics, Inc. is a clinical stage biopharmaceutical company focused on drug development that utilizes novel artificial intelligence to identify the next wave of medicines across neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices. The company's two most advanced clinical development programs are BXCL501, a sublingual thin film formulation designed for acute treatment of agitation resulting from neurological and psychiatric disorders, and BXCL701, an immuno-oncology agent designed for treatment of a rare form of prostate cancer and for treatment of pancreatic cancer.
Contact Information:
The Ruth Group
Lee Roth/ Janhavi Mohite
646-536-7012/ 7026
lroth@theruthgroup.com/ jmohite@theruthgroup.com
Forward-Looking Statements:
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements that relate to the advancement and development of BXCL501 and BXCL701, the commencement of clinical trials, the availability of data from clinical trials and other information that is not historical information. When used herein, words such as “anticipate”, “being”, “will”, “plan”, “may”, “continue”, and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon BioXcel’s current expectations and various assumptions. BioXcel believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. BioXcel may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described under the caption “Risk Factors” in BioXcel’s prospectus dated March 7, 2018, and BioXcel’s other filings made with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as BioXcel’s current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. BioXcel cannot guarantee future results, events, levels of activity, performance or achievements. BioXcel does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by law.