Min­er­va shares jump as J&J hands over $30M, re­vis­es in­som­nia drug pact; Iroko lays off 122

→ Min­er­va Neu­ro­sciences saw its shares $NERV jump on Thurs­day, af­ter it an­nounced re­vised terms to its col­lab­o­ra­tion with J&J on its orex­in 2 re­cep­tor an­tag­o­nist MIN-202. In a deal con­tin­gent on the clos­ing of J&J’s ac­qui­si­tion of Acte­lion, Min­er­va is get­ting back the shares J&J pur­chas­es along with glob­al rights to the drug. Janssen is giv­ing up its rights to roy­al­ties on the drug and is pay­ing a $30 mil­lion up­front and two pay­ments to­tal­ing $40 mil­lion for late-stage mile­stones. And J&J is for­giv­ing what Min­er­va owes it for mid-stage de­vel­op­ment. Min­er­va will now fund Phase III for in­som­nia on its own.

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