- HOPE has announced plans to assemble a best-in-class global
network of interventional psychiatry clinics combining ketamine
treatment with transcranial magnetic stimulation, and digital
therapeutics to treat severe depression and PTSD
- BTIG is a leading global financial services firm
specializing in investment banking, institutional trading,
research, and related brokerage services
- Advisory to include identification and evaluation of clinic
partners and strategic assets and investment banking services in
connection with financing initiatives to accelerate the Company's
business plan
MIAMI, Feb. 3, 2025
/PRNewswire/ -- HOPE Therapeutics™, Inc. ("HOPE"), a medical and
technology driven company, and a wholly-owned subsidiary of NRx
Pharmaceuticals, Inc. ("NRx", and collectively with HOPE, the
"Company") (Nasdaq:NRXP), today announced engagement of BTIG, a
leading global financial services firm specializing in investment
banking, institutional trading, research and related brokerage
services. The scope of the engagement includes advisory and
assistance in evaluating strategic and financing options available
to the Company and identification, evaluation and negotiation of
potential acquisition targets for the HOPE network of clinics, as
well as equity and debt financing structures.
The Company has recently announced execution of an
agreement for $27 million in funding
for HOPE Clinic Acquisition. Upon closing of the first tranche of
the anticipated financing, the Company currently intends to
leverage the investment with proposed bank debt and similar
instruments to fund its initial rollup of Interventional Psychiatry
Clinics. The Company has now engaged BTIG to advise the
Company on clinical partners to acquire and to facilitate
acquisition capital financing.
"We are excited to partner with NRx and HOPE to accelerate the
Company's business strategy of assembling a global network of
Interventional Psychiatry Clinics," said Robert Dentice, Managing Director Investment
Banking, BTIG. "Addressing the mental health crisis in this
country and abroad is a vital need which we are honored to help
address."
"We are pleased to engage with BTIG to build our HOPE network
and work to establish HOPE as a leading provider of world-class
care for patients suffering from suicidal depression, PTSD and
related conditions," said Jonathan
Javitt, MD MPH and Matthew Duffy, Co-CEOs of HOPE
Therapeutics. "BTIG is exceptionally well positioned to propel HOPE
to achieve our goals, and we look forward to working with the firm
to execute on our plan."
The information in this press release is for informational
purposes only and is neither an offer to purchase, nor a
solicitation of an offer to sell, subscribe for or buy any
securities in any jurisdiction pursuant to the proposed
transactions or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law. No offer of securities shall be made except
by means of a prospectus meeting the requirements of Section 10 of
the Securities Act of 1933, as amended.
About BTIG
BTIG is a global financial services firm specializing in
investment banking, institutional trading, research and related
brokerage services. With an extensive global footprint and more
than 700 employees, BTIG, LLC and its affiliates operate out of 20
cities throughout the U.S., and in Europe, Asia
and Australia. BTIG offers
execution, expertise and insights for equities, equity derivatives,
ETFs and fixed income, currency and commodities. The firm's core
capabilities include global execution, portfolio, electronic and
outsource trading, investment banking, prime brokerage, capital
introduction, corporate access, research and strategy, commission
management and more.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a
development stage healthcare delivery company that intends to
develop a best-in-class network of interventional psychiatry
clinics to offer ketamine transcranial magnetics stimulation (TMS)
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 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.
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 consummation of the $27 million in financing necessary to consummate
the acquisitions of Hope's clinics, entering into binding
documentation necessary to consummate the acquisitions, and the
Company's ability to raise equity or debt financing.
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, including the risk that the transactions
contemplated by the LOI are not consummated, uncertainties and
assumptions relating to the Company's operations, results of
operations, growth strategy, liquidity, HOPE Therapeutic's ability
to consummate the acquisitions of providers for its national
network, the Company's ability to raise adequate capital to fund
such acquisitions, and the Company's ability to spin-off HOPE
Therapeutics. 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:
Matthew Duffy
Chief Business Officer, NRx Pharmaceuticals
Co-Chief Executive Officer, HOPE
Therapeutics, Inc.
mduffy@nrxpharma.com
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SOURCE NRx Pharmaceuticals, Inc.
