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HOPE Therapeutics, Inc., a wholly-owned subsidiary of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) ("HOPE," the "Company"), a medical and technology driven company, today announced signing a non-binding Term Sheet for non-dilutive, nonconvertible debt acquisition funding of its first interventional psychiatry clinics (ketamine clinic acquisitions), together with the signing of a Term Sheet for five currently operational clinics in the Western United States. In addition to the currently-signed non-binding Term Sheet, the Company has been offered non-binding lending commitments it believes are sufficient to assemble/acquire a network of operational clinics with revenues in excess of $100 million. The Company anticipates potential operations in the United States, France, and the United Kingdom.
The non-dilutive acquisition funding announced today is in addition to the over $60 million in potential equity funding previously offered upon public listing of HOPE Therapeutics shares on a public exchange.
Ketamine is increasingly used to treat suicidal depression, treatment resistant depression (TRD) and Post Traumatic Stress Disorder (PTSD). Until now there has been no unified entity organized around delivering consistent outpatient care for suicidal depression, TRD and PTSD that combines pharmaceutical therapy, FDA approved and proven medical technologies such as Transcranial Magnetic Stimulation (TMS), digital therapeutics and access to clinical trial protocols for the newest potential treatments, delivered by properly licensed medical professionals to optimize care of people with these conditions. Collectively, these conditions represent a crisis that results in the death of someone around the globe every minute. HOPE aims to bring a unified, patient-centric and science-based approach to the care of patients and their families.
Posted In: NRXP
