Nrx Pharmaceuticals, Inc. · NASDAQ:NRXP
Nrx Pharmaceuticals — NeuroRx — SPAC Merger (December 2020)
25 slides from Nrx Pharmaceuticals's SPAC merger presentation, Dec 17, 2020
Slide 1: NeuroRx Merger with Big Rock Partners Acquisition Corp
NeuroRx Bringing Hope to Life BIG ROCK PAR TN ER S ACQUISITION CORP Merger with NeuroRx December 2020
Slide 2: Disclaimer
Disclaimer This presentation (this “Presentation’) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between NeuroRx, Inc. (“NeuroRx” or the “Company") and Big Rock Partners A
Slide 3: Disclaimer (con't)
Disclaimer (con’t) Additional Information and Where to Find It This document relates to a proposed transaction between NeuroRx and Big Rock. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale
Slide 4: Transaction Overview
Transaction Overview Big Rock Partners Acquisition Corp. (“Big Rock” or “BRPA”) has signed an Agreement and Plan of Merger with NeuroRx, Inc. (“NeuroRx”) in a transaction valued at approximately $525.1 million plus approximately $350 million in additional consideration based on projected milestones
Slide 5: Transaction Overview
Transaction Overview Valuation At Close“) ‘At Closing Total Shares Outstanding 53,605,492 $ per Share $10.00 Equity Value $536,05: Debt Cash $10,986,196 Enterprise Value $525,068,724 Estimated Sources & Uses Ownership at Close‘',2) PIPE 19) BRPA Trust Capital $5,986,196 Anticipated PIPE Proceeds"! $
Slide 6: NeuroRx Pipeline Overview
NeuroR Pipeline Overview Bringing Hope to Life An Innovator in Mental Health and Respiratory Drug Development NeuroRx’s two main drugs are “ZYESAMI™ (aviptadil)” which targets COVID- related respiratory failure and “NRX-101”, which targets suicidal bipolar depression and PTSD * ZYESAMI™ is synthetic
Slide 7: NeuroRx Relief Therapeutics Partnership
NeuroRx Relief Therapeutics Partnership Bringing Hope to Life ZYESAMI™ (aviptadil) - COVID-19 Therapeutic NeuroRx has signed a global collaboration with Relief Therapeutics Holding AG (SWX:RLF, OTCMKTS:RLFTF) (“Relief”) in September 2020 for global development and commercialization of ZYESAMI™ * Rel
Slide 8: NeuroRx Overview: NRX 100/101 Anti-Depressant Drug Regimen
NeuroRx NeuroRx Overview Bringing Hope to Life NRX 100/101 — Anti-Depressant Drug Regimen NRX-100/101 is being developed based on Prof. Daniel Javitt, PhD, MD* patented discovery that drugs targeting both the NMDA and S-HT2A receptors in the brain have the potential to treat both depression and suic
Slide 9: Experienced Leadership Team
Experienced Leadership Team Strong track record in CNS drug development Jonathan C. Javitt, MO, MPH + 25 years in drug development. + Participated in 6 successful drug and device launches * Blockbuster drugs at Merck, Allergan, Eyetech Alessandra Daigneault, JD ~Corporate S¢ ‘+ M&A partner at leadin
Slide 10: Accomplished Independent Directors & Advisors
Accomplished Independent Directors & Advisors + Former Director and President TEVA International Group + Chairman, CH-Health Lt. General HR McMaster (US Army, Ret.) + Former National Security Advisor Sherry A. Glied, PhD — Dean, NYU Wag + Former Asst Secretary for Health (ASPE) ‘+ Health Economist,
Slide 11: NRX-101 and ZYESAMI development timeline
NRX-101 Bipolar Depression NRX-101 PTSD ZYESAMI™ Intravenous, Critical coviD Aviptadil Inhaled Mod/Severe coviD Clear path to FDA approval timeline Say — Phase 2b readout, Breakthrough Designation Granted Phase 3 initiation, Special Protocol ‘Agreement Signed CRADA With US Dept. VA Last use in ‘man:
Slide 12: RLF-100 (aviptadil)
as RLF-100 (aviptadil) ‘ is synthetic human : Vasoactive Intestinal Peptide (VIP) a 28 amino-acid natural peptide with 50 years of research evidence documenting protection from [ai Lung Injury by protecting type II epithelial cells. In COVID-19, VIP: 1. Blocks SARS-CoV-2 replication 2. Blocks cytoki
Slide 13: History of VIP
H isto r of Vi P VIP discovered in 1970 based on the hypothesis that y hypotension associated with pulmonary embolus was caused by a vasoactive neuropeptide Not enough tissue volume could be obtained from available supplies of slaughterhouse lungs, so intestine was used to isolate VIP — a 28 amino a
Slide 14: Potential mechanism of SARS-CoV-2 lung injury
Potential mechanism of the cel. Vira replication and rupt cytokines and destroys surfactant p Pulméhary Alveolar Type tt «ells make surfactant that Is essential for alveolar function and gas exchange All mammals can be infected with SARS-CoV-2 Humans are known to develop COVID-19 That is because hum
Slide 15: Potential mechanism of VIP in protecting pulmonary type II alveolar cells
ax Potential mechanism of VIE in protecting pulmonary type 2 alven cells from SARS-CoV-2 inte VIP specifically upregulates surfactant production via upregulation of C-Fos protein and protects Type I cells from cytokines VIP binds to VPAC1 receptors on Alveolar Type I! cells and + Inhibits replicatio
Slide 16: Relief, NeuroRx Say Emergency Treatment With RLF-100 Helps Critically Ill Covid Patients
EheNew fork Times Relief, NeuroRx Say Emergency Treatment With RLF-100 Helps Critically Ill Covid Patients hence fverh TEL AVIV — Critically ill COVID-19 patients recovered rapidly from respiratory failure after three days of treatment with RLF- 100, a therapy granted fast-track designation in the U
Slide 17: Clinical Development Path
Clinical Development Path 730 Patients enrolled, 72% survival seen in the first 100 patients 7 ‘NeuroRx Bringing Hope to Life
Slide 18: Clinical Development Path: New Initiatives
Clinical Development Path New Initiatives i NeuroRx Bringing Hope to Life
Slide 19: ZYESAMI (Aviptadil) Conclusions
ZYESAMI™ (Aviptadil) Conclusions : NeuroR Bringing Hope to Life
Slide 20: NRX-101 for Suicidal Depression and PTSD
NeuroRx NRX-101 for Suicidal Depression and PTSD Bringing Hope to Life > NMDA antagonist mechanism for suicidal depression is now well understood and validated by Spravato® (esketamine) approval. > The challenge is to block NMDA with an orally-available drug that does not cause hallucinations, is no
Slide 21: A $24 billion addressable market in depression, PTSD and other mood disorders
A $24 billion addressable market in depression, PTSD and other mood disorders with no new class of drugs in 40 years Unmet medical need/life-threatening condition + We believe no previous drug has targeted Bipolar Depression or PTSD with suicidal ideation + SSRI antidepressants are contraindicated i
Slide 22: Only NeuroRx has Composition of Matter Patent Protection
Of the current NMDA-targeted drugs in development for depression Only NeuroRx has Composition of Matter Patent Protection Five patent families, 60+ filed applications, 30+ issued patents in US/EU/CN/JP/KO/AU Composition of matter Patent for NRX-101 co United States Patent (00 Patent Nox US 10,583,13
Slide 23: Suicidal Bipolar Depression is an Unmet Medical Need
Suicidal Bipolar Depression is an Unmet Medical Need A. More than 5.7 million people in the US have Bipolar Disorder’ * 28% of patients with bipolar disorder attempt suicide over 5 years” + 50%-80% attempt suicide over their lifetime 40%-60% of * 11%-20% of individuals with bipolar disorder succumb
Slide 24: Approaches to Valuation of NeuroRx
Approaches to Valuation of NeuroRx Value of NeuroRx should correspond to valuation of its two drug portfolios Public Market Valuation of the COVID/Respiratory portfolio mirrors Relief Therapeutics SWX:RLF NeuroRx has 50% of all US, Canada, Israel profits in ZYESAMI™, 15%-20% in EU and rest of world
Slide 25: The Market is Welcoming New Entrants in Psychiatry
The Market is Welcoming New Entrants in Psy + — All drugs in the new generation are old molecules + Axsome components can be bought “off the shelf” in pharmacies, no composition of matter patent * NeuroRx components are special-order only in pharmacies, now protected by composition of matter % CZ...