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HOPE Therapeutics, Inc., a subsidiary of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP), announced plans to acquire a network of interventional psychiatry clinics, focusing on ketamine treatments. The acquisition and financing agreements, valued at $30 million, are backed by a qualified lender. The company signed a non-binding Term Sheet for five operational clinics in the Western United States, generating over $10 million in annual revenue.
The clinics will focus on treating conditions like suicidal depression, treatment-resistant depression (TRD), and PTSD. HOPE Therapeutics aims to create a unified, patient-centered approach, combining pharmaceutical therapies and FDA-approved technologies like Transcranial Magnetic Stimulation (TMS).
Co-CEOs Jonathan Javitt and Matthew Duffy emphasized the importance of this initiative. “We are delighted to take the critical first steps towards developing a network of clinics that can provide the highest possible level of care.”
HOPE Therapeutics projects annualized revenues of $100 million by mid-2025 through continued clinic acquisitions and anticipates potential operations in the United States, France, and the United Kingdom.
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Ketamine, originally an anesthetic, has gained significant attention in recent years for its off-label use in treating mental health conditions such as depression, PTSD, and treatment-resistant depression (TRD). The rise in ketamine assisted therapies is largely due to its rapid-acting properties, which offer relief where traditional antidepressants often fall short. As research progresses, treatments are becoming more refined, with new delivery methods like nasal sprays, topical creams and patient-controlled infusions enhancing accessibility and effectiveness.
Read Next: Defense Dept. Funds Ketamine Study For PTSD Treatment In 600 Service Members & Veterans
Photo: Courtesy of Sonis Photography via Shutterstock
Posted In: NRXP
