WALTHAM, Mass., Sept. 11, 2017 (GLOBE NEWSWIRE) --
Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage
biopharmaceutical company focused on the development of therapies
to treat central nervous system (CNS) disorders, today announced
the appointment of Dr. Jay B. Saoud as senior vice president, head
of research and development. His responsibilities will focus
on the clinical development of the Company's portfolio of CNS
products, including a Phase 3 trial with MIN-101 for schizophrenia,
three Phase 2b trials with MIN-202 for major depressive disorder
(MDD) and insomnia disorder and a Phase 2b trial with MIN-117 for
MDD, all planned to begin in the second half of 2017, as well as
the completion of pre-clinical development and subsequent
initiation of clinical development with MIN-301 for Parkinson's
disease.
Dr. Saoud brings to Minerva more than 25 years of
research and development experience in both industry and academia,
where he played a critical role in the design, conduct and
reporting of clinical trials across multiple therapeutic areas
including CNS. He was previously president and chief executive
officer of PPRS Research, Inc., a strategic research and
development consulting partner for Minerva. Dr. Saoud
formerly served as a compound development team leader and head of
exploratory development at Transform Pharmaceuticals (a Johnson
& Johnson company), U.S. head of statistical sciences for
clinical pharmacology and pharmacokinetics at Sanofi-Aventis and
head of biometrics at ICOS Corporation.
"Dr. Saoud's hands-on experience in clinical
development and regulatory activities will be invaluable as Minerva
advances multiple product candidates into later-stage and pivotal
clinical trials beginning this year," said Dr. Remy Luthringer,
president and chief executive officer of Minerva. "His wide-ranging
skill set includes protocol development, clinical trial design and
conduct, global regulatory strategy, pre-clinical expertise,
pharmacology, pharmacokinetics and statistical sciences. Minerva
has benefited significantly from Dr. Saoud's contributions as a
consultant during the past several years, and we are delighted that
he will now be working directly for the Company in a leadership
position."
Dr. Saoud has been involved in the development of
more than 125 active molecules in the central nervous system,
diabetes, erectile dysfunction, hemorrhagic fever, muscular
dystrophy, and multiple sclerosis areas. He has a record of
successful pre-market and registration submissions in global
regulatory jurisdictions and approval of 11 New Drug Applications
(NDAs), 10 of which have resulted in sales in excess of $1
billion.
Dr. Saoud has published extensively in the areas
of anxiety, depression, male erectile dysfunction, muscular
dystrophy, and sleep, including more than 300 articles and
abstracts primarily in peer-reviewed journals. Prior to his
industry experience, he conducted clinical research at Columbia
Presbyterian Medical Center/New York State Psychiatric Institute
and was chief of mental health services within the New York City
Department of Health's Correctional Facilities. He received
his undergraduate degree in pre-medicine and psychology from the
American University of Beirut, his master of science in Human
Development from the University of Oregon, and his doctoral
training in Experimental Cognition at City College of the City
University of New York.
About Minerva
Neurosciences:
Minerva Neurosciences, Inc. is a clinical-stage
biopharmaceutical company focused on the development and
commercialization of a portfolio of products to treat CNS
diseases. Minerva's proprietary compounds include: MIN-101,
in clinical development for schizophrenia; MIN-202 (JNJ-42847922),
in clinical development for insomnia and major depressive disorder
(MDD); MIN-117, in clinical development for MDD; and MIN-301, in
pre-clinical development for Parkinson's disease. Minerva's
common stock is listed on the NASDAQ Global Market under the symbol
"NERV." For more information, please
visit www.minervaneurosciences.com.
Forward-Looking Safe Harbor Statement
This press release contains
forward-looking statements which are subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
as amended. Forward-looking statements are statements that
are not historical facts, reflect management's expectations as of
the date of this press release, and involve certain risks and
uncertainties. Forward-looking statements include statements
herein with respect to the timing and scope of future clinical
trials and results of clinical trials with MIN-101, MIN-202,
MIN-117 and MIN-301. These forward-looking statements are based on
our current expectations and may differ materially from actual
results due to a variety of factors including, without limitation,
whether MIN-101, MIN-202, MIN-117 and MIN-301 will advance further
in the clinical trials process; management's ability to
successfully achieve its goals; our ability to raise additional
capital to fund our operations on terms acceptable to us; and
general economic conditions. These and other potential risks
and uncertainties that could cause actual results to differ from
the results predicted are more fully detailed under the caption
"Risk Factors" in our filings with the Securities and Exchange
Commission, including our Quarterly Report on Form 10-Q for the
quarter ended June 30, 2017, filed with the Securities
and Exchange Commission on August 3, 2017. Copies
of reports filed with the SEC are posted on our website
at www.minervaneurosciences.com. The
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we disclaim
any obligation to update any forward-looking statements, except as
required by law.