June 2016 Innovative CNS therapies to address unmet medical needs This presentation contains certain forward-looking statements about Minerva Neurosciences that are intended to be covered by the safe harbor for "forward-

June 2016 Innovative CNS therapies to

address unmet medical needs

This presentation contains certain

forward-looking statements about Minerva Neurosciences that are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking

statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)" and similar expressions are intended

to identify forward-looking statements. These statements include, but are not limited to: the benefits, efficacy and safety of our new formulations; whether studies performed on analogs or backups of our compounds are a good predictor of the

clinical efficacy of our compounds; the timing and results of future clinical milestones; the timing of future clinical trials and results of such clinical trials; statements regarding our ability to successfully develop and commercialize our

therapeutic products; our ability to expand our long-term business opportunities; our expectations regarding approval for our products by the U.S. Food and Drug Administration or equivalent foreign regulatory agencies; estimates regarding the market

potential for our products; financial projections and estimates and their underlying assumptions; and future performance. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally

beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. These risks and uncertainties include, but are not limited to: the benefits,

efficacy and safety of our new formulations; whether analogs or backups of our compounds are a good predictor of the clinical efficacy of our compounds; the timing and results of future clinical milestones; the timing of future clinical trials and

results of such clinical trials; whether any of our therapeutic candidates 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 any of our therapeutic candidates will be successfully marketed if approved; whether our therapeutic product discovery and development efforts will be successful; our ability to achieve

the results contemplated by our collaboration agreements; the strength and enforceability of our intellectual property rights; competition from pharmaceutical and biotechnology companies; the development of and our ability to take advantage of the

market for our therapeutic products; our ability to raise additional capital to fund our operations on terms acceptable to us; general economic conditions; and the other risk factors contained in our periodic and interim reports filed with the

Securities and Exchange Commission which are available on the SEC website at www.sec.gov. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any

obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events. All trademarks, trade names and service marks appearing in

this presentation are the property of their respective owners. Forward-Looking Statement Safe-Harbor

Building a portfolio of innovative

therapies Program Origin Primary Indications Mechanisms of Action Pre- clinical Phase I Phase II Status MIN-101 Mitsubishi Tanabe Schizophrenia 5-HT2A antagonist Sigma2 antagonist TLR announced May 2016 MIN-117 Mitsubishi Tanabe

Major Depressive Disorder 5-HT1A 5HT transporter Alpha-1a, b Dopamine transporter 5-HT2A antagonist TLR announced May 2016 MIN-202 Janssen (under co-development) Primary Insomnia Major Depressive Disorder

Selective Orexin2 antagonist TLR January 2016 TLR March 2016 MIN-301 Mind-NRG Parkinson's Disease Neuregulin 1 1 activating ErbB4 IND or IMPD; Phase 1 expected to initiate thereafter Phase IIb completed Extension phase

ongoing Phase IIa completed Phase Ib completed Pre-clinical Phase IIa completed

MIN-101 A new drug with the potential

to address unmet needs in schizophrenia

MIN-101: non dopaminergic-blocking MoA

with the potential to address unmet medical needs Pharmacological targets Potential benefits / differentiation 5-HT2A antagonist Sigma2 antagonist Improve negative symptoms, cognition and sleep disorders, in addition to control of positive

Severity of Illness Chronic Progression

of Negative Symptoms & Cognitive Impairment Youth 0-18 Adult 18-40 Mature >40 Cognitive Symptoms Negative Symptoms Positive Symptoms Current Treatments Focus On Positive Symptoms $4.6B Rx Sales1 60% to 80% Discontinuation Rate2 Lack of

efficacy on negative symptoms Lack of efficacy on cognitive symptoms Lack of efficacy on insomnia Progression of side effects 1. Datamonitor Healthcare Schizophrenia Forecast, September 17, 2014 2. Datamonitor Healthcare Schizophrenia Treatment, May

21, 2012 An effective and safe lifelong treatment for schizophrenia remains a significant unmet need

MIN-101 Phase IIa study: monotherapy,

double-blind, placebo controlled in relapsed patients Patients relapsed from previous therapy Previous therapy washed-out 3 month treatment duration 96 patients, equally randomized between MIN-101 and placebo Hospitalization of patients permitted

during the first month- thereafter ambulatory Minimum entry total PANSS score of 60 13 centers in Europe MIN-101 MIN-101

MIN-101 Phase IIa: Change from baseline

on negative symptoms over 3 months (64 mg daily dose (32mg bid) vs placebo) Change from Baseline Placebo Plateau p = 0.0178 Regression Placebo MIN-101 MIN-101

MIN-101 Phase IIa study results

demonstrated: efficacy on broad spectrum of symptoms efficacy on dimensions of cognition improvement in objective and subjective sleep biomarkers absence of side effects commonly seen with existing therapies (EPS, weight gain, prolactin increase,

sedation) minor QTc prolongation at Cmax with the supra-therapeutic dose used in phase IIa (as expected)

MIN-101 Phase IIb A multi-center,

randomized, double-blind, parallel-group, placebo-controlled 12 week study to evaluate the efficacy, tolerability and safety of MIN-101 in patients with negative symptoms of schizophrenia followed by a 24-week, open-label extension

MIN-101 Phase IIb: Study design

MIN-101 Phase IIb: Primary and

secondary objectives Primary: To evaluate the efficacy of MIN-101 compared to placebo in improving the negative symptoms of schizophrenia as measured by the change from Baseline in the Positive and Negative Syndrome Scale (PANSS) negative subscale

score of the pentagonal model over 12 weeks of treatment. To evaluate the efficacy of MIN-101 compared to placebo in improving other symptoms of schizophrenia as measured by the change from Baseline in the PANSS total score, positive symptoms score,

dysphoric mood, activation, and autistic preoccupation sub-scores of the pentagonal model over 12 weeks of double-blind treatment. To evaluate the efficacy of MIN-101 compared to placebo in improving symptoms of schizophrenia as measured by changes

from Baseline in the PANSS total score and sub-scores according to the 3 factors analysis over 12 weeks of double-blind treatment. To evaluate the efficacy of MIN-101 compared to placebo in improving negative symptoms of schizophrenia as measured by

the change from Baseline in the Brief Negative Symptoms Scale (BNSS) total score over 12 weeks of double-blind treatment. To assess the effects of MIN-101 compared to placebo on the Clinical Global Impression of Severity (CGI-S) and Clinical Global

Impression of Improvement (CGI-I) over 12 weeks of double-blind treatment. To assess the effects versus placebo of MIN-101 on cognitive function as measured by the Brief Assessment of Cognition in Schizophrenia (BACS) battery over 12 weeks of

double-blind treatment. To evaluate the safety and tolerability of MIN-101 compared to placebo. To assess the pharmacokinetics (PK) profile of MIN-101 and its metabolites using population PK models. To assess the persistence of efficacy, and the

safety and tolerability of MIN-101 during the 24-week, open-label extension phase. Secondary:

MIN-101 Phase IIb: Statistical

methods Primary endpoint analysis: Efficacy analyses are based on the Intent to Treat (ITT) population Mixed-effects model for repeated measures (MMRM) is applied Changes from baseline to week 12 in PANSS negative subscale score using the pentagonal

structured model is the primary endpoint The Hochberg procedure is applied in order to maintain the Type I error rate due to multiple comparisons of the primary endpoint results at or below 0.050%

Effect size 32 mg: 0.45 64 mg: 0.58

Onset of effect observed after 2 weeks (measured at first visit) Efficacy: Primary endpoint PANSS negative subscale (pentagonal structure)

Efficacy: Secondary endpoint (1)

PANSS negative symptom score (3 Factors) Onset of effect observed after 2 weeks (measured at first visit)

Efficacy: Secondary endpoint (2)

Efficacy: Secondary endpoint (3)

PANSS positive symptom score (3 Factors)

Efficacy: Primary and Secondary

endpoints Summary table of statistically significant results

Safety: Reported common adverse

Safety: QTcF (msec) - change

Safety: QTcF (msec) - LSMean

(Upper 90% CI) of change from baseline

Safety: Summary of other safety

parameters Side Effect Phase IIb results showed AEs and SAEs Limited and comparable to placebo Weight Gain, Waist Circumference No increase Laboratory Tests, including Prolactin No increase Extra-pyramidal Symptoms No effect on AIMS scale Vigilance

No sedation *In the Phase IIb study MIN-101 showed a differentiated safety profile versus commonly observed side effects of current treatments for schizophrenia

U.S. Investigational New Drug

Application (IND) accepted by FDA in December 2015 Advanced-stage U.S. clinical program to be defined following results of Phase IIb trial in Europe Under consideration Multiple potential clinical late-stage pathways / routes to registration Trials

to be conducted independently or with a partner MIN-101 US development plan

MIN-101: In-licensed from Mitsubishi

Tanabe Pharmaceutical Company (MTPC) Minerva: exclusive worldwide license includes rights to develop, commercialize and sub-license MIN-101 (and back-ups) outside of certain Asian countries MTPC: retains rights to commercialize and sell MIN-101 in

certain Asian countries including China, Japan, India and South Korea (MTPC Territory) Milestones upon launch and commercialization goals could total up to $47.5 million payable Royalties payable on net sales range from high single digits to low

MIN-117 Our objective is to develop

a new drug to address unmet needs in major depressive disorder (MDD)

MIN-117 for Major Depressive

Disorder 5-HT1A 5HT Transporter Alpha-1a,b Dopamine Transporter 5-HT2A antagonist Faster onset Preserve cognition and sexual function Treat partial and non-responders Potential benefits / differentiation Pharmacological targets

MIN117: Phase IIa A Randomized,

Double-Blind, Parallel-Group, Placebo- and Active-Controlled Study to Evaluate the Efficacy and Safety of 2 Doses of MIN-117 in Adult Subjects with Major Depressive Disorder

MIN-117C01: Phase IIa study design

MIN-117C01: Phase IIa objectives

Primary: To evaluate the efficacy of MIN-117 0.5 and 2.5 mg compared to placebo in reducing the symptoms of a major depressive episode as measured by the change from Baseline in the Montgomery- Asberg Depression Rating Scale (MADRS) total score

over 6 weeks of treatment. Secondary: To evaluate the efficacy of MIN-117 0.5 and 2.5 mg compared to placebo in onset of antidepressant response as measured by the change from Baseline in the MADRS total score over 6 weeks of treatment. To assess

the effects of MIN-117 compared to placebo on severity of illness and improvement using the Clinical Global Impression of Severity (CGI-S) and Clinical Global Impression of Improvement (CGI-I) over 6 weeks of treatment. To assess the effect of

MIN-117 compared to placebo on sexual functioning using the Arizona Sexual Experiences Scale (A-SEX). To assess the effect of MIN-117 compared to placebo on executive function and working memory using Digit-Symbol Substitution Test (DSST), Towers of

London Test, and Digit Span Backwards task. To evaluate the safety and tolerability of MIN-117 compared to placebo over 6 weeks of treatment.

Efficacy: MADRS primary endpoint

(ITT population) Effect size MIN-117 0.5 mg: 0.24 MIN-117 2.5 mg: 0.34

Efficacy: MADRS primary endpoint (PP

Population) Effect size MIN-117 0.5 mg: 0.20 MIN-117 2.5 mg: 0.39

Efficacy: HAM-A secondary endpoint

Effect size MIN-117 0.5 mg: 0.49 MIN-117 2.5 mg: 0.45

Sleep polysomnography: REM latency

Safety: Common Adverse Events Note:

Common TEAEs' are TEAEs that occurred > 4% of subjects in any treatment group

MIN-117 phase IIa study

demonstrated: Efficacy on depressive symptoms Onset evident as early as 2 weeks Efficacy on anxiety symptoms Both doses of MIN-117 are well tolerated Pharmacodynamics No impairment in cognition No impairment in sexual function Preservation of sleep