BioXcel Therapeutics Appoints Matt Wiley Chief Commercial Officer

Rhea-AI Summary

BioXcel Therapeutics, Inc. (Nasdaq: BTAI) announced the appointment of Matt Wiley as Senior Vice President and Chief Commercial Officer. Wiley brings over 25 years of experience in commercial strategy, particularly in neuroscience product launches. His role is critical as the company prepares for the anticipated approval and commercial launch of BXCL501 for treating agitation linked to schizophrenia and bipolar disorders. Wiley previously led significant marketing efforts for products generating up to $1.4 billion in revenue.

Positive

• Appointment of Matt Wiley as CCO to enhance commercial strategies.
• Wiley's experience in leading successful product launches, particularly in neuroscience.
• Preparation for potential approval of BXCL501 for acute agitation treatment.

Negative

• None.

NEW HAVEN, Conn., Jan. 19, 2022 (GLOBE NEWSWIRE) -- BioXcel Therapeutics, Inc. (Nasdaq: BTAI), a clinical-stage biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology, today announced the appointment of Matt Wiley as Senior Vice President and Chief Commercial Officer (CCO).

“We are pleased to welcome Matt to our management team, as we prepare for our first potential approval and commercial launch of BXCL501 for the acute treatment of agitation associated with schizophrenia and bipolar disorders,” said Vimal Mehta, Ph.D., CEO of BioXcel Therapeutics. “With over 25 years of commercial and industry expertise across multiple product launches including neuroscience products, Matt will be invaluable in spearheading critical launch initiatives, as well as the planned expansion of BXCL501 in additional indications, settings, and geographies, helping us maximize the potential of our AI-driven pipeline and R&D capabilities.”

Mr. Wiley brings a wealth of sales, marketing, and strategy experience across multiple specialty product launches. He joins BioXcel Therapeutics from VYNE Therapeutics, where he served as CCO overseeing all commercial objectives related to the launch of the company’s first two approved dermatology products, AMZEEQ^® and ZILXI^®. Prior to this, he served as Vice President of Marketing and Business Unit Lead for Jazz Pharmaceuticals’ sleep medicine unit, where he led the go-to-market strategy and marketing for SUNOSI™ for treating narcolepsy and sleep apnea and developed the successful growth strategy for XYREM™ for narcolepsy, which achieved $1.4 billion in net revenue during his final year. He also served as Vice President of Marketing at Azur Pharma, supporting the startup of U.S. operations and the company’s acquisition by Jazz Pharmaceuticals. In addition, Mr. Wiley held roles of increasing responsibility at Cephalon, Salix Pharmaceuticals, and MGI Pharma. He holds a BA in English from Syracuse University.

“I am thrilled to join BioXcel Therapeutics at such an important time, and I look forward to being part of efforts to bring BXCL501 to fill the unmet medical need for millions of patients managing acute agitation associated with schizophrenia and bipolar disorders,” said Mr. Wiley. “The Company’s AI-driven approach to drug development represents a novel way of identifying, developing and commercializing transformative neuroscience therapeutics, and I'm excited to join the leadership team in driving this innovative vision.”

About BioXcel Therapeutics, Inc.
BioXcel Therapeutics, Inc. is a clinical-stage biopharmaceutical company 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. BioXcel Therapeutics’ two most advanced clinical development programs are BXCL501, an investigational, proprietary, orally dissolving thin film formulation of dexmedetomidine for the treatment of agitation associated with psychiatric and neurological disorders, and BXCL701, an investigational, orally administered, systemic innate immunity activator in development for the treatment of aggressive forms of prostate cancer and advanced solid tumors that are refractory or treatment naïve to checkpoint inhibitors. For more information, please visit www.bioxceltherapeutics.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 the timing of potential commercial approval of BXCL501 for the acute treatment of schizophrenia and bipolar disorders I and II, the Company’s commercial strategy and the potential value of BXCL501 as a treatment option. When used herein, words including “anticipate,” “will,” “plan,” “may,” “continue,” “intend,” “designed,” “goal” 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 the Company’s current expectations and various assumptions. The Company believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. The Company 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, the important factors discussed under the caption “Risk Factors” in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, as such factors may be updated from time to time in its other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While the Company may elect to update such forward-looking statements at some point in the future, except as required by law, it disclaims any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

Contact Information

Corporate

BioXcel Therapeutics
Erik Kopp
1.203.494.7062
ekopp@bioxceltherapeutics.com

Investor Relations

FTI Consulting
Matt Ventimiglia
1.212.850.5624
matthew.ventimiglia@fticonsulting.com

Media

FTI Consulting
Helen O’Gorman
1.718.408.0800
helen.ogorman@fticonsulting.com

Source: BioXcel Therapeutics, Inc.

FAQ

What is the significance of Matt Wiley's appointment to BioXcel Therapeutics (BTAI)?

Matt Wiley's appointment as CCO is significant as he brings extensive experience in commercial strategy, critical for the company's upcoming product launches.

What product is BioXcel Therapeutics preparing to launch with Matt Wiley's leadership?

The company is preparing to launch BXCL501, aimed at treating agitation associated with schizophrenia and bipolar disorders.

How does Matt Wiley's experience benefit BioXcel Therapeutics (BTAI)?

Wiley's prior success in launching products, including generating $1.4 billion in revenue for a product at Jazz Pharmaceuticals, is expected to enhance BioXcel's market strategy.

What are the expected timelines for BXCL501 following the recent management changes?

The company anticipates potential approval and launch timelines for BXCL501 will be crucial under Wiley's leadership.