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HOPE Therapeutics, Inc. a subsidiary of NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Announces Signing of Term Sheet for $7.8 Million Debt Financing to Fuel HOPE Clinic Acquisitions
Term sheet with Universal Capital, LLC to fund HOPE Therapeutics clinic acquisition strategyFunding tied to already-announced acquisitions, with additional
About this update from Nrx Pharmaceuticals, Inc.
[{"type":"text","content":"Term sheet with Universal Capital, LLC to fund HOPE Therapeutics clinic acquisition strategyFunding tied to already-announced acquisitions, with additional tranches contemplated for further growth, subject to standard due diligenceTogether with previously announced term sheet with a strategic investor, HOPE funding of $10.3 million is planned in the near term MIAMI, May 15, 2025 /PRNewswire/ -- HOPE Therapeutics™, Inc. (\"HOPE\"), a multi-site clinical care delivery organization and wholly-owned subsidiary of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP), a clinical-stage biopharmaceutical company, today announced signing of a term sheet with Universal Capital, LLC (\"Universal\") to provide $7.8 million in acquisition capital to initiate HOPE's planned national rollup of interventional psychiatry clinics, commencing with previously-announced acquisitions of Dura Medical, Kadima, and NeuroSpa. Together with proceeds of a previously announced strategic investment, this financing is anticipated to provide $10.3 million in acquisition capital.\n\n \n \n \n \n \n \n\n \nHOPE's three initial acquisitions represent best-in-class clinics that offer neuroplastic treatments including ketamine and transcranial magnetic stimulation (TMS) to treat patients with severe depression, PTSD, and related central nervous system conditions. Neuroplastic treatments represent a rapidly emerging class of interventions that cause the growth of new connections (synapses) between brain cells that have been shown in multiple clinical trials to relieve symptoms of depression and suicidality. The FDA has approved TMS devices for a number of indications and has approved a nasal form of ketamine for treatment resistant depression. HOPE's parent company, NRx, is currently applying to the FDA for approval of intravenous preservative-free ketamine to treat suicidal depression.\nNeuroplastic therapies, when properly administered under psychiatric leadership, have been demonstrated to achieve rapid and sustained remission from severe and suicidal depression and PTSD. In a recent televised White House cabinet meeting, when asked by the President about current plans to combat suicide among veterans, the Secretary of the US Department Veterans Affairs stressed the important role of psychedelic treatments (such as ketamine) to stem the tide of veteran suicide. Secretary Ken...