The Life Sciences team advised Royalty Pharma (Nasdaq: RPRX) on its acquisition of Minerva Neurosciences (Nasdaq: NERV) royalty interest in seltorexant for an upfront payment of $60 million and up to $95 million in additional milestone payments. The additional payments to Minerva 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 with insomnia symptoms by Janssen Pharmaceutica, N.V.
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies.
For additional details on the transaction, please read the press release.