Minerva Neurosciences Names Dr. Jay Saoud as Senior Vice President, Head of Research and Development
September 11 2017 - 8:30AM
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.
Contact:
William B. Boni
VP, Investor Relations/
Corp. Communications
Minerva Neurosciences, Inc.
(617) 600-7376
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