# Teva Agrees to Acquire Bankrupt BioXcel’s Neuroscience Assets as Stalking Horse Bidder

Teva Pharmaceutical has stepped in as a stalking horse bidder for the neuroscience portfolio of BioXcel Therapeutics, which has filed for bankruptcy. The deal includes an upfront payment of $57.5 million for BioXcel’s assets.

A stalking horse bid sets a minimum purchase price for a bankrupt company’s assets, allowing other potential buyers to submit higher offers through a court-supervised auction. If no better bid emerges, Teva would acquire the portfolio at the agreed price.

BioXcel, a biotech firm focused on neuroscience drug development, sought bankruptcy protection before reaching this agreement with Teva. The transaction covers BioXcel’s neuroscience pipeline, though specific drug candidates or programs were not detailed in the announcement.

The deal highlights ongoing consolidation in the biotech sector, where larger pharmaceutical companies acquire distressed firms’ assets at reduced valuations. For Teva, the acquisition adds neuroscience programs to its existing portfolio of central nervous system treatments. Neuroscience remains a high-risk, high-reward area in drug development, with many experimental therapies failing in late-stage trials. Bankruptcy-driven acquisitions allow larger firms to obtain partially developed assets without bearing the full cost of early research.

Source: [original report](https://www.fiercebiotech.com/biotech/teva-saddles-stalking-horse-bidder-bankrupt-bioxcels-neuroscience-portfolio)