WALTHAM, Mass., Dec. 20, 2016 (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 Michael Davidson, M.D., as chief medical officer effective December 19, 2016. His responsibilities will include the strategic development and clinical advancement of the Company's products, which target schizophrenia (MIN-101), insomnia (MIN-202), major depressive disorder (MIN-117) and Parkinson's disease (MIN-301).
Dr. Davidson brings to Minerva significant experience in the research and development of drugs to treat diseases of the central nervous system. He is currently professor of psychiatry at the Sackler School of Medicine, Tel Aviv University. Dr. Davidson trained in psychiatry at the Mount Sinai School of Medicine in New York, where he served as professor of psychiatry and director of research.
"Dr. Davidson's deep expertise in CNS disorders, his insights into the development strategy and regulatory review of new agents to treat these conditions and his broad knowledge of clinical operations are expected to help us realize the potential of Minerva's portfolio of products to treat unmet medical needs," said Dr. Remy Luthringer, president and chief executive officer of Minerva. "During the past year, we have benefitted from his capabilities as a consultant, and we are looking forward to his increased involvement as we interact with regulatory agencies in the U.S. and Europe and as we embark upon pivotal clinical testing with our lead product, MIN-101 for schizophrenia."
Dr. Davidson has been a consultant for a number of pharmaceutical and biotechnology companies, including Pfizer, Johnson and Johnson, Teva, Roche, Novartis, Lilly, Forest, BioLineRx, Sanofi-Aventis, Takeda, Orion and Servier. He is a board member and reviewer for several professional organizations and neuroscience and psychiatry publications. Dr. Davidson has served as chief editor of European Neuropsychopharmacology, fellow of the American College of Neuropsychopharmacology and board member of the International Psychogeriatric Association. He received the Neuroscience Award from the European College of Neuropsychopharmacology in 1999 and from the International College of Neuropsychopharmacology in 2006. Dr. Davidson is the recipient of over 50 research grants and has published over 300 articles primarily in peer reviewed journals in the areas of schizophrenia and Alzheimer's disease. In schizophrenia he has generated and published data focused on the underlying biology of the disease and on investigational treatments.
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, which has completed a Phase IIb clinical trial for schizophrenia; MIN-117, which has completed a Phase IIa clinical trial development for MDD; MIN-202 (JNJ-42847922), which has completed Phase IIa and Phase Ib clinical trials for insomnia and MDD, respectively; 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 results of future clinical milestones with MIN-101, MIN-117, MIN-202 and MIN-301; the clinical and therapeutic potential of MIN-101, MIN-117, MIN-202 and MIN-301; our ability to successfully develop and commercialize MIN-101, MIN-117, MIN-202 and MIN-301; and management's ability to successfully achieve its goals. 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-117, MIN-202 and MIN-301 will advance further in the clinical trials process and whether and when, if at all, they will receive final approval from the U.S. Food and Drug Administration or equivalent foreign regulatory agencies and for which indications; whether the results of future clinical trials of MIN-101, MIN-117, MIN-202 and MIN-301, if any, will be consistent with the results of past clinical trials; whether MIN-101, MIN-117, MIN-202 and MIN-301 will be successfully marketed if approved; whether our therapeutic product discovery and development efforts with MIN-101, MIN-117, MIN-202 and MIN-301 will be successful; our ability to achieve the results contemplated by our co-development agreements; 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 September 30, 2016, filed with the Securities and Exchange Commission on November 3, 2016. 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.
