NRx Pharmaceuticals (NASDAQ: NRXP) announced that its wholly owned subsidiary, HOPE Therapeutics(TM), has signed a term sheet with Universal Capital, LLC for $7.8 million in acquisition funding to support the rollout of its national interventional psychiatry clinic network. Combined with previously announced investments, HOPE now has $10.3 million in capital to execute initial acquisitions of Dura Medical, Kadima, and NeuroSpa. These clinics offer neuroplastic treatments such as ketamine and transcranial magnetic stimulation to treat severe depression and PTSD, with current contracts in place to serve veterans through the VA. Universal Capital expects to participate in future funding rounds as HOPE expands its platform nationwide.
To view the full press release, visit https://ibn.fm/q2hE5
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 initiated a New Drug Application filing 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.
For more information, please visit https://www.nrxpharma.com/
NOTE TO INVESTORS: The latest news and updates relating to NRXP are available in the company’s newsroom at https://ibn.fm/NRXP
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