Royalty Pharma plc (Nasdaq: RPRX) and Minerva Neurosciences, Inc. (Nasdaq: NERV) today announced that Royalty Pharma will acquire Minerva’s royalty interest in seltorexant for an upfront payment of $60 million and up to $95 million in additional milestone payments.
“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,” said Pablo Legorreta, founder and Chief Executive Officer of Royalty Pharma.
Cooley acted as legal advisors to Minerva Neurosciences on the transaction. Goodwin Procter, Dechert and Maiwald acted as legal advisors to Royalty Pharma on the transaction.
This text is a press release from Royalty Pharma. The full text version of the article can be found here: Royalty Pharma Acquires Royalty Interest in Seltorexant from Minerva Neurosciences – Royalty Pharma