Item 1.01 Entry into a Material Definitive Agreement.
On January 19, 2021, Minerva Neurosciences, Inc. (the "Company") issued a press
release announcing that the Company and Royalty Pharma plc ("Royalty Pharma")
had entered into an agreement (the "Royalty Agreement") pursuant to which
Royalty Pharma will acquire the Company's royalty interest in seltorexant for an
upfront payment of $60 million and up to $95 million in additional milestone
payments. The additional payments to the Company will be contingent on the
achievement of certain clinical, regulatory and commercialization milestones.
Seltorexant is currently in Phase 3 development for the treatment of major
depressive disorder (MDD) with insomnia symptoms by Janssen Pharmaceutica, N.V.
A copy of the above referenced press release is filed as Exhibit 99.1 to this
Current Report on Form 8-K.
The foregoing summary of the material terms of the Royalty Agreement does not
purport to be complete and is subject to, and qualified in its entirety by
reference to, the full text of the Royalty Agreement. The Company intends to
file a copy of such agreement with its Annual Report on Form 10-K for the fiscal
year ended December 31, 2020.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit
No. Description
99.1 Press Release of the Company dated January 19, 2021.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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