BTAI BioXcel Therapeutics Inc

BioXcel Therapeutics, Inc. (“BioXcel” or the “Company”) (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 Javier Rodriguez as Senior Vice President, Chief Legal Officer and Corporate Secretary, effective immediately. Mr. Rodriguez will report to Chief Executive Officer, Vimal Mehta and joins BioXcel with 20 years of extensive strategic and legal experience within the biopharmaceutical industry.

“We are pleased to welcome Javier to BioXcel at this important time in our Company’s growth,” said Dr. Mehta. “As we look to transition to a commercial neuroscience-focused company, Javier’s proven track record and broad legal expertise within the life sciences – spanning commercial, clinical and intellectual property activities – makes him an invaluable addition to our management team. We look forward to leveraging his vast knowledge as we advance on our path to commercialization.”

Prior to joining BioXcel, Mr. Rodriguez served as Chief Legal Officer at Indivior PLC (LSE: INDV), a publicly traded pharmaceutical company. During his tenure, he oversaw all legal affairs, data privacy compliance and corporate governance matters for the company, which has operations in over 40 countries. Prior to joining Indivior, he held roles of increasing responsibility at Reckitt Benckiser LLC, Bayer Healthcare Pharmaceuticals, Inc. and Berlex, Inc. Mr. Rodriguez began his legal career as a litigation associate at Thelen Reid & Priest, LLP in New York City. He holds a bachelor’s degree from Rutgers University, a Master of Science degree from the University of Michigan and a Juris Doctor from the University of Pennsylvania.

“I am thrilled to be joining BioXcel at this exciting time in the Company’s life cycle. In just a few years, the Company has been able to advance its first candidate to the cusp of an NDA filing with the FDA, leveraging its powerful AI platform to identify valuable, proprietary assets for treating underserved neuropsychiatric disorders,” commented Javier Rodriguez. “With my prior experience in the industry, including direct experience with sublingually administered treatments that utilize proprietary technology, I look forward to providing strategic counsel and contributing to the Company’s continued success in developing therapies for patients where there is a large unmet medical need.”

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. BioXcel’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’s two most advanced clinical development programs are BXCL501, an investigational, proprietary, orally dissolving thin film formulation of dexmedetomidine for the treatment of agitation and opioid withdrawal symptoms, 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 Company's growth and corporate strategy. When used herein, words including "anticipate,” "being,” "will,” “look,” "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, its limited operating history; its incurrence of significant losses; its need for substantial additional funding and ability to raise capital when needed; its limited experience in drug discovery and drug development; its dependence on the success and commercialization of its product candidates; the failure of preliminary data from its clinical studies to predict final study results; failure of its early clinical studies or preclinical studies to predict future clinical studies; its ability to receive regulatory approval for its product candidates; its ability to enroll patients in its clinical trials; undesirable side effects caused by BioXcel's product candidates; its approach to the discovery and development of product candidates based on EvolverAI is novel and unproven; its exposure to patent infringement lawsuits; its ability to comply with the extensive regulations applicable to it; impacts from the COVID-19 pandemic; its ability to commercialize its product candidates; and the other important factors discussed under the caption "Risk Factors" in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2020, 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 and the Investors section of BioXcel’s website at www.bioxceltherapeutics.com.

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 BioXcel 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 BioXcel's views as of any date subsequent to the date of this press release.

Contact Information:

BioXcel Therapeutics, Inc.www.bioxceltherapeutics.com

Investor Relations:

Mary ColemanBioXcel Therapeutics, V.P. of Investment RelationsMColeman@bioxceltherapeutics.com1.475.238.6837

John GrazianoSolebury Troutjgraziano@soleburytrout.com1.646.378.2942

Media:

Julia DeutschSolebury Troutjdeutsch@soleburytrout.com1.646.378.2967