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BRIEF-Minerva Neurosciences announces European Commission approval of amendment of MIN-202 agreement with Janssen
August 25, 2017 / 12:40 PM / 4 months ago

BRIEF-Minerva Neurosciences announces European Commission approval of amendment of MIN-202 agreement with Janssen

Aug 25 (Reuters) - Minerva Neurosciences Inc

* Minerva Neurosciences announces European Commission approval of amendment of MIN-202 agreement with Janssen

* Minerva Neurosciences Inc - ‍combined proceeds are expected to support anticipated data readouts from five planned clinical trials with three product candidates​

* Minerva Neurosciences Inc - ‍payments to Minerva by Janssen under new agreement include an upfront payment of $30 million​

* Minerva Neurosciences Inc - ‍Minerva has assumed all financial responsibility for phase 3 development costs for MIN-202 in insomnia​

* Minerva Neurosciences Inc - ‍Janssen waived remaining payments due from Minerva for phase 2 development of MIN-202, which total approximately $13 million​

* Minerva Neurosciences - ‍all Minerva stock previously owned by JJDC will be repurchased by Minerva at par value of $.0001/ share or about $389 in total​

* Minerva Neurosciences Inc - ‍under amended agreement, Minerva gains control of development of MIN-202 to treat insomnia​

* Minerva Neurosciences Inc - ‍under amended agreement Janssen foregoes its right to royalties on MIN-202 insomnia sales in Minerva territories​

* Minerva Neurosciences Inc - ‍ Minerva retains its rights to MIN-202 as adjunctive therapy for major depressive disorder​ Source text for Eikon: Further company coverage:

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