Co-founder Dr. Nandabalan resigns from BTAI board; enters 5-year non-compete

BioXcel Therapeutics, Inc.

Dr. Krishnan Nandabalan resigned from board effective Sept 19, 2023; no disagreement with company.
BioXcel entered non-compete with Nandabalan, InveniAI, and Invea: 5-year bar in neuroscience/immuno-oncology; 2-year no-solicit.
Sandeep "Steve" Laumas resigned as Class II director and was reappointed Class I to rebalance board classes; board now 6 members.
Non-compete includes $2M liquidated damages for breach by InveniAI or Invea in restricted fields.
BTAI granted right of first negotiation over certain InveniAI assets in restricted fields.

item 1.01 item 5.02 item 9.01

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Departed

Krishnan Nandabalan

Director

BTAI · BioXcel Therapeutics, Inc.

Effective: 2023-09-19
Filed: September 25, 2023, 7:59 PM ET

On September 19, 2023, Dr. Nandabalan resigned as a member of the Company’s Board of Directors

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Krishnan Nandabalan resigned as Director at BioXcel Therapeutics, Inc..

Action: resigned
Role: Director

Exact text from the filing

On September 19, 2023, Dr. Nandabalan resigned as a member of the Company’s Board of Directors

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BioXcel Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-103556

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