Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Limited, has agreed to serve as the stalking-horse bidder for substantially all assets of BioXcel Therapeutics, Inc. and certain affiliates through a court-supervised Chapter 11 auction. The proposed consideration includes $57.5 million in cash at closing and up to $67.5 million in contingent cash, for a maximum of $125 million, plus specified assumed liabilities. The portfolio includes IGALMI, the associated BXCL501 program, and other assets beyond neuroscience. A competing bidder may still submit a superior offer, and any transaction requires bankruptcy-court approval. The pending supplemental new drug application seeks to expand IGALMI's label to include at-home treatment of acute agitation associated with schizophrenia or bipolar I or II disorder in adults, with an FDA target action date of November 14, 2026.
BioXcel Therapeutics IncBioXcel's assets are being acquired via a $125M stalking-horse bid in its Chapter 11 bankruptcy sale, providing a path to monetize its portfolio.
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