BioXcel Therapeutics Appoints Dr. Rajiv Patni to Board of Directors

On January 15, 2025, BioXcel Therapeutics, Inc. (NASDAQ: BTAI) filed an 8-K report with the United States Securities and Exchange Commission, announcing the appointment of Dr. Rajiv Patni as a new member of its Board of Directors. This move follows the Board’s decision to increase its size from seven to eight members.

Dr. Patni brings a wealth of experience to BioXcel Therapeutics, with a background in the biopharmaceutical industry specializing in global product development across various therapeutic areas including cardiology, diabetology, hepatology, neurology, and benign hematology. Prior to joining BioXcel, Dr. Patni served as the Chief Executive Officer of Judo Bio, a company focused on oligonucleotide medicines delivered to the kidney.

His previous roles include Chief Research and Development Officer at Reata Pharmaceuticals, as well as Chief Medical Officer at several public biopharmaceutical companies such as Global Blood Therapeutics, Portola Pharmaceuticals, and Adamas Pharmaceuticals. Dr. Patni’s earlier career includes positions at Pfizer, Roche, and Actelion.

The Board expressed confidence in Dr. Patni’s capabilities, emphasizing that his extensive experience in biopharmaceutical product development will make valuable contributions to BioXcel Therapeutics’ strategic direction. As a newly appointed director, Dr. Patni will be eligible to participate in the Company’s Non-Employee Director Compensation Program, which includes annual compensation in cash and equity-based awards.

Effective immediately upon joining the Board, Dr. Patni will receive an option to purchase 44,000 shares of BioXcel Therapeutics’ common stock, with an exercise price of $0.3465. This award will vest in three equal installments over the course of three years, contingent on Dr. Patni’s continued service as a non-employee director.

Furthermore, it is anticipated that Dr. Patni will enter into BioXcel Therapeutics’ standard indemnification agreement for directors and officers to protect against liabilities arising from his role.

The Company is confident that Dr. Patni’s appointment will further strengthen its Board of Directors and enhance its strategic decision-making processes going forward. Investors and stakeholders will be keen to observe the impact of Dr. Patni’s expertise on BioXcel Therapeutics’ future initiatives.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BioXcel Therapeutics’s 8K filing here.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in 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.