---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-103556"
form_type: "8-K"
ticker: "BTAI"
cik: "0001720893"
company_name: "BioXcel Therapeutics, Inc."
filed_at: "2023-09-25T23:59:59+00:00"
generated_at: "2026-06-10T09:16:18.561985+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-103556
- form_type: 8-K
- ticker: BTAI
- cik: 0001720893
- company_name: BioXcel Therapeutics, Inc.
- filed_at: 2023-09-25T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720893/000110465923103556/0001104659-23-103556-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720893/000110465923103556/tm2326812d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-103556
- JSON: https://secwatch.observer/filing/0001104659-23-103556.json
- Plain text: https://secwatch.observer/filing/0001104659-23-103556.txt

## Key facts
- Executive change
  Krishnan Nandabalan resigned as Director at BioXcel Therapeutics, Inc..
  - Action: resigned
  - Role: Director
  source text: On September 19, 2023, Dr. Nandabalan resigned as a member of the Company’s Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1720893/000110465923103556/0001104659-23-103556-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.