Minerva Neurosciences bags $31 million funding

Posted on 16 March 2015


Minerva Neurosciences will raise approximately $31 million of gross proceeds in a private placement offering to several institutional investors, including 6,281,661 shares of common stock and warrants to purchase up to 6,281,661 shares.

The purchase price for the common stock will be $4.81 per share.

The purchase price for the warrants will be $0.125 per share of common stock subject to such warrants.

The warrants will have an exercise price of $5.772 per share.

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The private placement is expected to close on or about March 18, 2015 and is subject to the satisfaction of customary closing conditions.

The proceeds of the financing will be used to fund the clinical development of Minerva's Central Nervous System (CNS) portfolio, including: MIN-101 for the treatment of schizophrenia; MIN-202 for the treatment of insomnia being developed under a collaboration with Janssen Research & Development, LLC; MIN-117 for the treatment of major depressive disorder (MDD); and MIN-301 for the treatment of Parkinson's disease.

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