BioXcel Therapeutics (BTI) claimed to have rose a great heal of money through a Nasdaq IPO. They rose $69 million, and they plan to spend their new influx of cash on phase 2 trails of a once-unsuccessful cancer asset. They will also put some of the new raised funds toward an old drug that has been given a new purpose for use in schizophrenia and Alzheimer’s.
BioXcel is a data analytics company that created its name from its deals with companies like Alexion, Alnylam, Sanofi, Takeda, Teva and Vertex, and BTI is a subsidiary of BioXcel. These leading companies decided to pair up with the data analytics company to search for drugs that are already out there. They are also trying to find indications in which their pipeline prospects are going to be successful. BioXcel continued to use the analytics platform to empower its own R&D passions, and as a result BTI was created last year.
The data led the company to decide that it can revamp success into dexmedetomidine and talabostat. Dexmedetomidine is a well-known sedative that is sold by Pfizer. BTI hopes to use the drug’s history of use as an advantage to shorten the approval time. The end goal is to run early phase 3 in 2019, and as a result file for approval in 2020.
Talabostat also has clinical data supporting it, but not all of the data is positive. In the 2000s, Point Therapeutics took the inhibitor of FAP and DPP 8/9 all the way to a phase 3 trial. Unfortunately the placebo ended up performing better than the drug at an interim analysis. This ultimately led to a FDA hold on the drug, and as a result Point became a shell company for a reverse merger.
BTI wants to repackage the drug for the immuno-oncology era. They want to select a dose based on the previous 700-person dataset and test it in two open-label trials. Prostate cancer patients will receive talabostat by itself or they will be given it in combination with Keytruda. This will be given to patients who have progressed after treatment with Xtandi or Zytiga. The next trial will be for pancreatic cancer and will test the talabostat-Keytruda cocktail.
In the end, the results of these trials will give wisdom about the capabilities of BioXcel’s data-motivated indication identification model. In the assumption that it works, BTI will have some possible prospects, but the track record of BTI also has a chance of just dying out.