HOPE Therapeutics and NRx Pharmaceuticals Announce $30M Acquisition and Financing Deals for Psychiatry Clinics

HOPE Therapeutics, Inc., a subsidiary of NRx Pharmaceuticals, Inc., has announced the signing of a non-binding Term Sheet for non-dilutive, nonconvertible debt acquisition funding aimed at acquiring its first interventional psychiatry clinics. These clinics specialize in ketamine therapies. Additionally, a Term Sheet has been signed for five operational clinics located in the Western United States. The company anticipates completing these financial arrangements within 60 days.

In conjunction with this acquisition funding, HOPE Therapeutics has received non-binding lending commitments sufficient to create a network of operational clinics expected to generate over $100 million in annual revenue by mid-2025. The company’s projected operations could potentially extend to the United States, France, and the United Kingdom. This recent funding announcement complements more than $60 million in potential equity funding previously offered upon the public listing of HOPE Therapeutics shares.

Ketamine has emerged as a promising treatment for various severe psychiatric conditions, such as suicidal depression, treatment-resistant depression (TRD), and Post-Traumatic Stress Disorder (PTSD). Despite its efficacy, there has not been a unified approach to outpatient care for these conditions that combines pharmaceutical therapy, FDA-approved technologies like Transcranial Magnetic Stimulation (TMS), digital therapeutics, and access to clinical trial protocols for emerging treatments. HOPE Therapeutics aims to fill this gap by offering a unified, patient-centric, and scientifically based approach to treating patients and their families.

Jonathan Javitt and Matthew Duffy, Co-CEOs of HOPE Therapeutics, expressed their commitment to addressing the pressing needs of individuals suffering from severe psychiatric conditions. They highlighted the critical first steps towards building a network of clinics designed to provide top-tier care and establish best practices for mental health professionals globally. The initial clinics and additional ones under review are expected to form the foundation of a network projected to generate approximately $100 million in annual revenue in the near future.

HOPE Therapeutics focuses on developing a leading network of clinics offering ketamine and other lifesaving therapies for patients with suicidal depression and related disorders. The company also integrates a digital therapeutic platform designed to enhance and maintain the benefits of NMDA-targeted drug therapy.

NRx Pharmaceuticals, the parent company of HOPE Therapeutics, is a clinical-stage biopharmaceutical firm developing treatments based on its NMDA platform for central nervous system disorders, including suicidal bipolar depression, chronic pain, and PTSD. The company is working on 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 for patients with bipolar depression and suicidality or akathisia. The drug also shows potential as a non-opioid treatment for chronic pain and complicated urinary tract infections.

Additionally, NRx Pharmaceuticals has announced plans to submit a New Drug Application for NRX-100 (IV ketamine) for treating suicidal depression. This decision is based on data from well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and new data from French health authorities. The US FDA has granted Fast Track Designation for the development of ketamine (NRX-100) as part of a protocol to treat patients with acute suicidality.