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HOPE Therapeutics™, Inc. and NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Engage BTIG as Financial Advisor
NRXPNRX Pharmaceuticals(NRXP) Prnewswire·2025-02-03 13:59

Core Insights - HOPE Therapeutics, Inc. has engaged BTIG for advisory services to evaluate strategic and financing options, including potential acquisitions for its network of clinics [1][2][3] - The company has secured 27millioninfundingforclinicacquisitionsandplanstoleveragethisinvestmentwithbankdebtfortherollupofInterventionalPsychiatryClinics[2][5]−ThepartnershipwithBTIGaimstoacceleratetheestablishmentofaglobalnetworkofInterventionalPsychiatryClinicstoaddressmentalhealthissues[3][5]CompanyOverview−HOPETherapeutics,Inc.isfocusedondevelopinganetworkofinterventionalpsychiatryclinicsthatwilloffertreatmentssuchasketaminetherapyandtranscranialmagneticstimulationforpatientswithseveredepressionandPTSD[5][6]−NRxPharmaceuticals,theparentcompany,isaclinical−stagebiopharmaceuticalfirmdevelopingtherapeuticsforcentralnervoussystemdisorders,includingsuicidalbipolardepressionandchronicpain[7][8]−NRxisadvancingitsinvestigationaldrugNRX−101,whichhasreceivedFDABreakthroughTherapydesignationfortreatingsuicidaltreatment−resistantbipolardepression[7][8]FinancialandStrategicDevelopments−TheengagementwithBTIGincludesidentifyingandevaluatingpotentialclinicalpartnersandfinancinginitiativestosupportthecompany′sgrowthstrategy[2][5]−Thefirsttrancheofthe27 million in funding for clinic acquisitions and plans to leverage this investment with bank debt for the rollup of Interventional Psychiatry Clinics [2][5] - The partnership with BTIG aims to accelerate the establishment of a global network of Interventional Psychiatry Clinics to address mental health issues [3][5] Company Overview - HOPE Therapeutics, Inc. is focused on developing a network of interventional psychiatry clinics that will offer treatments such as ketamine therapy and transcranial magnetic stimulation for patients with severe depression and PTSD [5][6] - NRx Pharmaceuticals, the parent company, is a clinical-stage biopharmaceutical firm developing therapeutics for central nervous system disorders, including suicidal bipolar depression and chronic pain [7][8] - NRx is advancing its investigational drug NRX-101, which has received FDA Breakthrough Therapy designation for treating suicidal treatment-resistant bipolar depression [7][8] Financial and Strategic Developments - The engagement with BTIG includes identifying and evaluating potential clinical partners and financing initiatives to support the company's growth strategy [2][5] - The first tranche of the 27 million funding is expected to close soon, enabling the company to initiate its acquisition strategy [2][9] - BTIG's expertise in investment banking and related services is seen as crucial for HOPE's goal of becoming a leading provider of mental health care [3][4]