Minerva Neurosciences, Inc. Announces Resignation of Jay B. Saoud as Senior Vice President, Head of Research and Development, Effective on September 15, 2021
September 08, 2021 at 08:43 am EDT
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On September 2, 2021, Dr. Jay B. Saoud tendered his resignation, effective September 15, 2021, as the Senior Vice President, Head of Research and Development of Minerva Neurosciences, Inc. Dr. Saoud was a named executive officer of the company for the year ended December 31, 2020. In connection with Dr. Saoud’s resignation, the company and Dr. Saoud entered into a Transition, Separation, and Consulting Agreement, dated September 2, 2021. Under the terms of the Agreement, upon Dr. Saoud’s termination of employment with the company, he will continue providing services as a consultant to the company from September 15, 2021 through June 30, 2022, subject to earlier termination by either Dr. Saoud or the company upon 30 days’ notice, or by the company upon Dr. Saoud’s material breach of the terms thereof.
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company, which focused on the development and commercialization of product candidates to treat patients suffering from central nervous system (CNS) diseases. It is engaged in developing roluperidone for the treatment of negative symptoms in patients with schizophrenia and have exclusive rights to develop and commercialize MIN-301 for the treatment of Parkinson's disease. It has also co-developed seltorexant for the treatment of insomnia disorder and adjunctive treatment of the major depressive disorder (MDD). Roluperidone is a compound that blocks serotonin, sigma, and a-adrenergic receptors that are involved in the regulation of mood, cognition, sleep, and anxiety. Roluperidone has been designed to block a specific subtype of serotonin receptor called 5-HT2A. MIN-301 is a soluble recombinant form of the Neuregulin-1b1 (NRG-1b1), protein, for the treatment of Parkinson's disease and for other neurodegenerative disorders.
Minerva Neurosciences, Inc. Announces Resignation of Jay B. Saoud as Senior Vice President, Head of Research and Development, Effective on September 15, 2021
MINERVA NEUROSCIENCES, INC. 
