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.
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“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.
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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
