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
HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals (NASDAQ:NRXP), has secured a term sheet with Universal Capital for $7.8 million in debt financing. Combined with a previously announced strategic investment, HOPE is set to receive $10.3 million in total acquisition capital.
The funding will support HOPE's national expansion strategy through the acquisition of interventional psychiatry clinics, starting with Dura Medical, Kadima, and NeuroSpa. These clinics specialize in neuroplastic treatments, including ketamine and transcranial magnetic stimulation (TMS), for treating severe depression, PTSD, and related conditions. The clinics currently serve veterans through Veterans Health Administration contracts and the general public.
Universal Capital shares HOPE's vision of establishing a nationwide network of mental health clinics and plans to participate in future funding as additional acquisitions are identified.HOPE Therapeutics, una controllata di NRx Pharmaceuticals (NASDAQ:NRXP), ha ottenuto un term sheet con Universal Capital per un finanziamento a debito di 7,8 milioni di dollari. Insieme a un investimento strategico precedentemente annunciato, HOPE riceverà un capitale totale di acquisizione di 10,3 milioni di dollari.
I fondi supporteranno la strategia di espansione nazionale di HOPE attraverso l'acquisizione di cliniche di psichiatria interventistica, a partire da Dura Medical, Kadima e NeuroSpa. Queste cliniche sono specializzate in trattamenti neuroplastici, inclusi ketamina e stimolazione magnetica transcranica (TMS), per il trattamento della depressione grave, PTSD e condizioni correlate. Attualmente, le cliniche servono veterani tramite contratti con la Veterans Health Administration e il pubblico generale.
Universal Capital condivide la visione di HOPE di creare una rete nazionale di cliniche per la salute mentale e prevede di partecipare a futuri finanziamenti man mano che saranno identificate ulteriori acquisizioni.
HOPE Therapeutics, una subsidiaria de NRx Pharmaceuticals (NASDAQ:NRXP), ha asegurado una hoja de términos con Universal Capital para un financiamiento de deuda de 7,8 millones de dólares. Sumado a una inversión estratégica previamente anunciada, HOPE recibirá un capital total de adquisición de 10,3 millones de dólares.
Los fondos apoyarán la estrategia de expansión nacional de HOPE mediante la adquisición de clínicas de psiquiatría intervencionista, comenzando con Dura Medical, Kadima y NeuroSpa. Estas clínicas se especializan en tratamientos neuroplásticos, incluyendo ketamina y estimulación magnética transcraneal (TMS), para tratar la depresión severa, el TEPT y condiciones relacionadas. Actualmente, las clínicas atienden a veteranos a través de contratos con la Veterans Health Administration y al público en general.
Universal Capital comparte la visión de HOPE de establecer una red nacional de clínicas de salud mental y planea participar en futuras financiaciones a medida que se identifiquen más adquisiciones.
HOPE Therapeutics는 NRx Pharmaceuticals(NASDAQ:NRXP)의 자회사로, Universal Capital과 780만 달러 규모의 부채 금융에 대한 조건서를 확보했습니다. 이전에 발표된 전략적 투자와 합쳐 HOPE는 총 1030만 달러의 인수 자본을 받게 됩니다.
이 자금은 Dura Medical, Kadima, NeuroSpa를 시작으로 중재 정신과 클리닉 인수를 통한 HOPE의 전국 확장 전략을 지원할 예정입니다. 이 클리닉들은 중증 우울증, PTSD 및 관련 질환 치료를 위한 케타민 및 경두개 자기 자극(TMS) 등 신경가소성 치료를 전문으로 합니다. 현재 이 클리닉들은 재향군인 건강관리청(Veterans Health Administration) 계약을 통해 재향군인과 일반 대중에게 서비스를 제공하고 있습니다.
Universal Capital은 전국 정신 건강 클리닉 네트워크 구축이라는 HOPE의 비전을 공유하며, 추가 인수가 확인될 때마다 향후 자금 조달에도 참여할 계획입니다.
HOPE Therapeutics, une filiale de NRx Pharmaceuticals (NASDAQ:NRXP), a obtenu une lettre d'intention avec Universal Capital pour un financement par dette de 7,8 millions de dollars. Combiné à un investissement stratégique annoncé précédemment, HOPE recevra un capital total d'acquisition de 10,3 millions de dollars.
Ce financement soutiendra la stratégie d'expansion nationale de HOPE à travers l'acquisition de cliniques de psychiatrie interventionnelle, en commençant par Dura Medical, Kadima et NeuroSpa. Ces cliniques sont spécialisées dans les traitements neuroplastiques, y compris la kétamine et la stimulation magnétique transcrânienne (TMS), pour traiter la dépression sévère, le SSPT et les conditions associées. Ces cliniques desservent actuellement les vétérans via des contrats avec la Veterans Health Administration ainsi que le grand public.
Universal Capital partage la vision de HOPE d'établir un réseau national de cliniques de santé mentale et prévoit de participer à de futurs financements au fur et à mesure que de nouvelles acquisitions seront identifiées.
HOPE Therapeutics, eine Tochtergesellschaft von NRx Pharmaceuticals (NASDAQ:NRXP), hat ein Term Sheet mit Universal Capital für eine Schuldenfinanzierung in Höhe von 7,8 Millionen US-Dollar gesichert. In Kombination mit einer zuvor angekündigten strategischen Investition wird HOPE insgesamt 10,3 Millionen US-Dollar an Akquisitionskapital erhalten.
Die Finanzierung wird HOPE bei der nationalen Expansionsstrategie durch den Erwerb von interventionellen Psychiatriekliniken unterstützen, beginnend mit Dura Medical, Kadima und NeuroSpa. Diese Kliniken sind auf neuroplastische Behandlungen spezialisiert, einschließlich Ketamin und transkranieller Magnetstimulation (TMS), zur Behandlung von schwerer Depression, PTSD und verwandten Erkrankungen. Die Kliniken betreuen derzeit Veteranen über Verträge mit der Veterans Health Administration sowie die allgemeine Öffentlichkeit.
Universal Capital teilt die Vision von HOPE, ein landesweites Netzwerk von Kliniken für psychische Gesundheit aufzubauen, und plant, sich an zukünftigen Finanzierungen zu beteiligen, sobald weitere Akquisitionen identifiziert werden.
- Secured $7.8 million in debt financing for clinic acquisitions
- Additional strategic investment brings total funding to $10.3 million
- Already identified three initial clinic acquisitions
- Existing contracts with Veterans Health Administration
- Universal Capital expressed interest in participating in future funding rounds
- Financing is still at term sheet stage, not finalized
- Additional funding tranches subject to due diligence
- Taking on debt could increase financial obligations
Insights
HOPE Therapeutics secures $7.8M debt financing for clinic acquisitions, bolstering NRx's mental health treatment expansion strategy.
HOPE Therapeutics, a wholly-owned subsidiary of NRx Pharmaceuticals (NASDAQ: NRXP), has secured a significant debt financing deal that deserves investor attention. The company has signed a term sheet with Universal Capital for
The funding will facilitate HOPE's previously announced acquisitions of three interventional psychiatry clinics: Dura Medical, Kadima, and NeuroSpa. These clinics specialize in neuroplastic treatments, including ketamine and transcranial magnetic stimulation (TMS), targeting severe depression, PTSD, and related central nervous system conditions. What makes this particularly strategic is that these clinics already have established contracts with the Veteran's Health Administration, providing a stable revenue stream.
The financing structure is noteworthy - it's structured as debt rather than equity, which avoids immediate dilution for existing shareholders. However, investors should consider the debt servicing obligations this will create. Universal Capital has also indicated interest in participating in future funding as additional acquisition targets are identified, suggesting potential for a longer-term financing relationship.
This move aligns HOPE/NRx with important healthcare policy priorities, as both the Secretary of Veterans Affairs and the Secretary of Health and Human Services have publicly endorsed psychedelic treatments like ketamine for mental health conditions, particularly for veteran suicide prevention. This political alignment could create favorable regulatory and reimbursement environments for HOPE's services.
The parent company NRx is simultaneously pursuing FDA approval for intravenous preservative-free ketamine for suicidal depression, which creates potential synergies between their pharmaceutical development and clinical service delivery businesses.
- Term sheet with Universal Capital, LLC to fund HOPE Therapeutics clinic acquisition strategy
- Funding tied to already-announced acquisitions, with additional tranches contemplated for further growth, subject to standard due diligence
- Together with previously announced term sheet with a strategic investor, HOPE funding of
$10.3 million
HOPE'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.
Neuroplastic 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 Kennedy of the US Department of Health and Human Services has similarly spoken publicly about the importance of this class of therapies. HOPE's initial clinics already serve veterans through contracts with the Veteran's Health Administration, in addition to serving all members of the community.
Universal Capital is a global investment firm that shares HOPE's vision of building a nationwide network of clinics that will put patients and families first in addressing our country's mental health crisis. According to the US Centers for Disease Control, more than 13 million Americans make a plan to commit suicide each year and far too many succeed. Universal is excited by the growth prospects of HOPE and plans to participate in future funding of HOPE transactions, as additional assets are identified and acquired.
"The signing of this term sheet with Universal is an important step in the evolution of HOPE Therapeutics, and consistent with our stated financing plans. We are delighted to welcome Universal to the HOPE family," said Dr. Jonathan Javitt and Matthew Duffy, Co-CEOs of HOPE Therapeutics.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com), a subsidiary of NRx Pharmaceuticals, is a healthcare delivery company that is building 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 as a treatment for complicated UTI.
NRx has recently initiated a New Drug Application filing for NRX-100 (preservative free 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 and has filed a patent for this novel formulation with the US Patent and Trademark Office.
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 satisfaction of closing conditions necessary to consummate the acquisition of Kadima, Neurospa and Dura, and obtaining financing necessary to consummate the acquisitions. 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, 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 | Brian Korb |
Co-CEO, Hope Therapeutics, Inc. | Managing Partner, ASTR Partners |
Chief Business Officer, NRx Pharmaceuticals, Inc. | (917) 653-5122 |
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SOURCE NRx Pharmaceuticals, Inc.
FAQ
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