- Clinic to serve as the prototype for HOPE's network of Interventional Psychiatric Clinics
- Nationally recognized founder to become Chief Medical Innovation Officer of HOPE, in order to implement and evolve the Company's standard of care across the HOPE network
- Acquisition would be immediately accretive to revenue and EBITDA for HOPE and NRx
MIAMI, Oct. 3, 2024 /PRNewswire/ -- HOPE Therapeutics, Inc., ("HOPE," the "Company"), a medical and technology driven company, and a wholly-owned subsidiary of NRx Pharmaceuticals, Inc. (Nasdaq: NRXP), today announced signing a non-binding Letter of Intent (LOI) for acquisition of a premier West Coast Interventional Psychiatric Clinic. Importantly, as a component of the acquisition, the founder of the clinic, a pioneer and nationally recognized leader in the use of advanced treatments for treatment of CNS disorders, has agreed to join HOPE as Chief Medical Innovation Officer (CMIO).
The clinic to be acquired will establish HOPE's model for clinics operating in the Company's network across the country, providing the highest standard of care to patients suffering from problems such as suicidal depression, PTSD and other CNS disorders. These treatments may include Ketamine, Spravatoâ, Transcranial Magnetic Stimulation (TMS), talk therapy and other treatment options. Additionally, patients may also have access to clinical trials of new treatment modalities through these clinics.
"This clinic is the ideal foundation for Hope's clinic network; the practice provides state-of-the-art treatment for patients dealing with many CNS disorders and has highly efficient operations; these aspects can serve as a model for future clinics entering our network," said Jonathan Javitt, MD MPH and Matthew Duffy, Co-CEOs of HOPE Therapeutics. "Additionally, we look forward to working with the founder as our CMIO, as we establish HOPE as a model for clinics that aim to provide the latest standard of care treatments for CNS healthcare providers nationwide."
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a healthcare delivery company developing a best-in-class network of clinics that currently offer ketamine and other lifesaving therapies to patients with suicidal depression and related disorders, together with a digital therapeutic-enabled platform designed to augment and preserve the clinical benefit of NMDA-targeted drug therapy.
About NRx Pharmaceuticals, Inc.
NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal bipolar depression, chronic pain, and PTSD. The Company is developing NRX-101, an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain. NRx plans to file an NDA for Accelerated Approval for NRX-101 in patients with bipolar depression and suicidality or akathisia. NRX-101 additionally has potential to act as a non-opioid treatment for chronic pain, as well as a treatment for complicated UTI.
NRx has recently announced plans to submit a New Drug Application for NRX-100 (IV ketamine) for the treatment of suicidal depression, based on results of well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and newly obtained data from French health authorities, licensed under a data sharing agreement. NRx was awarded Fast Track Designation for development of ketamine (NRX-100) by the US FDA as part of a protocol to treat patients with acute suicidality.
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. These statements include, among others, statements regarding the proposed public offering and the timing and the use of the proceeds from the offering. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "plan," "believe," "intend," "look forward," and other similar expressions among others. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy and liquidity. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. Except as may be required by applicable law, The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, whether as a result of new information, future events or otherwise.
For further information:
CORPORATE CONTACTS:
Jeremy Feffer, LifeSci Advisors, Inc.
[email protected]
Matthew Duffy
Chief Business Officer, NRx Pharmaceuticals
Co-CEO, HOPE Therapeutics, Inc.
[email protected]
SOURCE NRx Pharmaceuticals, Inc.
