Minerva Neurosciences (NERV) rose 10.3% to $9.10 in premarket trading on Thursday. The Waltham, Mass.-based firm after the market close on Wednesday said it has amended its co-development and license agreement with Johnson & Johnson's (JNJ) Janssen Pharmaceutica NV regarding, insomnia drug and depression treatment candidate MIN-202 (JNJ 42827922). Minerva will also reacquire all of its shares owned by Johnson & Johnson's venture capital arm. MIN-202 (JNJ 42827922) is a selective orexin-2 receptor antagonist.
As part of the amended pact, Minerva will have global strategic control of the development of MIN-202 to treat insomnia, and Janssen will forego its right to royalties on MIN-202 insomnia sales in Minerva territories.
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