NEW YORK and WALTHAM, Mass., Jan. 19, 2021 (GLOBE NEWSWIRE) — Royalty Pharma plc (Nasdaq: RPRX) and Minerva Neurosciences, Inc. (Nasdaq: NERV) immediately introduced that Royalty Pharma will purchase Minerva’s royalty curiosity in seltorexant for an upfront fee of $60 million and as much as $95 million in further milestone funds. The extra funds to Minerva shall be contingent on the achievement of sure medical, regulatory and commercialization milestones.
Seltorexant is presently in Part three improvement for the therapy of main depressive dysfunction (MDD) with insomnia signs by Janssen Pharmaceutica, N.V., a subsidiary of Johnson & Johnson.
“We are very pleased to have entered into this agreement with Royalty Pharma, the leader in acquiring pharmaceutical royalties across the life sciences industry,” stated Dr. Remy Luthringer, Government Chairman and Chief Government Officer of Minerva. “The proceeds will be used to fund continued development of roluperidone, the Company’s proprietary lead compound, which is in Phase 3 development to treat negative symptoms in schizophrenia.”
“We are delighted to partner with Minerva,” stated Pablo Legorreta, founder and Chief Government Officer of Royalty Pharma. “Based on seltorexant’s differentiated mechanism of action and robust clinical evidence to date, we are excited by the therapy’s emerging profile and the opportunity it may bring to address a significant unmet need for the millions of patients with major depressive disorder with insomnia symptoms.”
Minerva Neurosciences is entitled to a mid-single digit royalty on worldwide web gross sales of seltorexant.
Cooley acted as authorized advisors to Minerva Neurosciences on the transaction. Goodwin Procter, Dechert and Maiwald acted as authorized advisors to Royalty Pharma on the transaction.
About Royalty Pharma plc
Based in 1996, Royalty Pharma is the most important purchaser of biopharmaceutical royalties and a number one funder of innovation throughout the biopharmaceutical trade, collaborating with innovators from tutorial establishments, analysis hospitals and not-for-profits via small and mid-cap biotechnology firms to main international pharmaceutical firms. Royalty Pharma has assembled a portfolio of royalties which entitles it to funds based mostly instantly on the top-line gross sales of most of the trade’s main therapies. Royalty Pharma funds innovation within the biopharmaceutical trade each instantly and not directly – instantly when it companions with firms to co-fund late-stage medical trials and new product launches in exchange for future royalties, and not directly when it acquires present royalties from the unique innovators. Royalty Pharma’s present portfolio contains royalties on greater than 45 business merchandise, together with AbbVie and J&J’s Imbruvica, Astellas and Pfizer’s Xtandi, Biogen’s Tysabri, Gilead’s HIV franchise, Merck’s Januvia, Novartis’ Promacta, and Vertex’s Kalydeco, Orkambi, Symdeko and Trikafta, and 5 development-stage product candidates. For extra data, go to www.royaltypharma.com.
About Minerva Neurosciences
Minerva’s portfolio of compounds contains: roluperidone (MIN-101), in medical improvement for schizophrenia, and MIN-301, in pre-clinical improvement for Parkinson’s illness. Minerva’s widespread stock is listed on the NASDAQ International Market beneath the image “NERV.” For extra data, please go to www.minervaneurosciences.com.
Royalty Pharma Investor Relations and Communications
+1 (212) 883-2295
Minerva Neurosciences Investor Relations and Company Communications
William B. Boni, Vice President, Investor Relations and Company Communications
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Royalty Pharma plc’s Ahead-Wanting Statements
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Minerva Neurosciences’ Ahead-Wanting Protected Harbor Assertion
This press launch comprises forward-looking statements that are topic to the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995, as amended. Ahead-looking statements are statements that aren’t historic information, mirror administration’s expectations as of the date of this press launch, and contain sure dangers and uncertainties. Ahead-looking statements embrace statements herein with respect to the timing and scope of future medical trials and outcomes of medical trials with roluperidone (MIN-101); the medical and therapeutic potential of this compound; the chance of profitable medical trials, regulatory assessment, future gross sales and a royalty stream from seltorexant; the timing and outcomes of future interactions with U.S. and international regulatory our bodies; our capability to efficiently develop and commercialize our therapeutic merchandise; the sufficiency of our present cash place to fund our operations; and administration’s capability to efficiently obtain its targets. These forward-looking statements are based mostly on our present expectations and may differ materially from precise outcomes attributable to quite a lot of components together with, with out limitation, whether or not roluperidone will advance additional within the medical trials course of and whether or not and when, if in any respect, it can obtain remaining approval from the U.S. Meals and Drug Administration or equal international regulatory companies and for which indications; whether or not any of our therapeutic merchandise shall be efficiently marketed if accepted; whether or not any of our therapeutic product discovery and improvement efforts shall be profitable; administration’s capability to efficiently obtain its targets; our capability to boost further capital to fund our operations on phrases acceptable to us; and basic financial circumstances. These and different potential dangers and uncertainties that would trigger precise outcomes to vary from the outcomes predicted are extra absolutely detailed beneath the caption “Risk Factors” in our filings with the Securities and Alternate Fee, together with our Quarterly Report on Kind 10-Q for the quarter ended September 30, 2020, filed with the Securities and Alternate Fee on November 2, 2020. Copies of reviews filed with the SEC are posted on our web site at www.minervaneurosciences.com. The forward-looking statements on this press launch are based mostly on data out there to us as of the date hereof, and we disclaim any obligation to replace any forward-looking statements, besides as required by legislation.