HOPE Therapeutics Secures $7.8 Million in Debt Financing to Expand Mental Health Clinic Network

HOPE Therapeutics, Inc., a wholly owned subsidiary of NRx Pharmaceuticals (NASDAQ: NRXP), has signed a $7.8 million debt financing term sheet with Universal Capital, LLC. This financing, combined with a prior strategic investment, is expected to total $10.3 million, aimed at funding the acquisition of Dura Medical, Kadima, and NeuroSpa clinics. These acquisitions are part of HOPE Therapeutics' strategy to expand its network of clinics specializing in neuroplastic therapies for depression and PTSD, including treatments like ketamine and Transcranial Magnetic Stimulation (TMS).

NRx Pharmaceuticals continues to make regulatory progress with its NMDA-based therapies, NRX-100 (IV ketamine) and NRX-101 (oral bipolar depression therapy), with the FDA waiving a $4.3 million drug application fee for NRX-100. Patents for NRX-100 could provide protection through 2045, offering a long-term advantage in the treatment of suicidal depression and bipolar disorder.

The expansion of HOPE Therapeutics' clinic network and the advancement of NRx Pharmaceuticals' drug development pipeline represent a dual strategy to address the growing need for innovative mental health treatments. The financial backing from Universal Capital underscores the potential impact of these therapies on patients suffering from severe mental health conditions, highlighting the importance of investment in the psychedelic and cannabis industries for therapeutic development.