- Kadima Neuropsychiatry Institute in La Jolla, CA to serve as flagship for an
international network of clinics dedicated to treating depression
and PTSD
- Kadima's founder, David
Feifel, MD, PhD, Professor Emeritus of Psychiatry at
University of California San Diego, a
pioneer in advanced interventional treatments for neuropsychiatric
conditions such as depression and PTSD, to join Hope as Chief
Medical Innovation Officer
- Kadima is a leading investigative site for CNS and
psychedelic research, and has served as the lead site in nearly all
major clinical trials in this area
- Acquisition expected to be immediately accretive to revenue
and EBITDA for NRx
MIAMI, Jan. 2, 2025
/PRNewswire/ -- HOPE Therapeutics, Inc., ("HOPE," the "Company"), a
medical and technology driven company, and a wholly-owned
subsidiary of NRx Pharmaceuticals, Inc. ("NRx") (Nasdaq: NRXP),
today announced the planned acquisition of the Kadima
Neuropsychiatry Institute (Kadima) of La
Jolla, CA, per the previously announced Letter of Intent,
for the HOPE network. Kadima is expected to serve as the flagship
clinic for HOPE's planned international network of interventional
psychiatry clinics, designed to provide advanced treatments for
debilitating diseases such as depression, anxiety and PTSD.
Kadima is one of the world's premier interventional psychiatry
clinics and was among the first to introduce Ketamine Therapy for
Central Nervous System (CNS) disorders at scale in the clinic
setting. The clinic offers a full range of cutting-edge treatments
for suicidal depression, anxiety, Post Traumatic Stress Disorder
(PTSD) and other CNS disorders. Those treatment options include
Ketamine Therapy, Spravato® (nasal esketamine), Transcranial
Magnetic Stimulation as well as medication management.
Kadima also has a robust research division and is a leading
investigative site for innovative CNS treatments, specializing in
psychedelic research, for which it has served as a leading site in
nearly all major clinical trials in this area. Kadima has
contracts in place with the US Department of Veterans Affairs and
also treats active-duty military personnel in the US Department of
Defense under Tricare and other treatment programs.
Kadima's founder and CEO, Prof. David
Feifel, MD PHD, has been a pioneer and international thought
leader for advanced interventional treatment of psychiatric
disorders such as depression, anxiety, PTSD and related disorders
for more than three decades. Among other things, he is a co-author
on a recent landmark expert consensus paper for treating depression
with TMS, endorsed by three leading organizations in the field
(ref). He also established the first clinical program to use
subanesthetic dose ketamine infusions for neuropsychiatric
disorders at UC San Diego, where he is currently Professor Emeritus
of Psychiatry. His 150 peer-reviewed publications and several
patents have provided global thought leadership on advanced
approaches to treating psychiatric conditions, including
integration of medicines like ketamine with neuromodulation
such as, Transcranial Magnetic Stimulation and Digital
Therapeutics. Kadima's experience will guide the growing network of
HOPE Therapeutics clinics to an integrated, multi-modal approach to
treating suicidal depression, anxiety and PTSD that is far more
effective than ketamine alone.
Upon consummation of the proposed acquisition, Dr. Feifel will
serve as HOPE's Chief Medical Innovation Officer (CMIO), focused on
identifying and evaluating new developments in the treatment of CNS
disorders and insuring Hope clinics are at the forefront of
interventional psychiatry delivery, and leading global clinical
trials to continue to advance the ability to treat these lethal
diseases.
Dr. Feifel will join NRx's Chairman, Prof. Jonathan Javitt in presenting a Keynote address
at the 8th Annual Neuroscience Innovation Forum during the JP
Morgan Healthcare Conference in San
Francisco, CA on the 12th of January 2025, and will join in meeting investors
over the following week.
"I am thrilled to join the leadership of HOPE at this exciting
juncture," said Dr. David Feifel.
"In a world where nearly 60 million Americans suffer from a mental
illness in any given year (ref), our dream has been to expand the
successes and learnings of Kadima to an international stage, where
we can continue to innovate and refine treatments that will create
a world in which suicidal depression and PTSD are 100% treatable
conditions, from which patients and their families should expect to
return to empowered and productive lives."
"We are honored to welcome David and the Kadima team to the HOPE
family. David has helped pioneer the field of interventional
psychiatry and is one of the few global thought leaders who has
been able to span the worlds of academia and community health care
delivery, serving the residents of his community as well as
active-duty military and veterans in a town known for hosting some
of America's most elite warriors. We are thrilled to count David as
our partner for expanding the success of Kadima across the globe,"
said Jonathan Javitt, MD MPH and
Matthew Duffy, Co-CEOs of HOPE
Therapeutics.
The acquisition of Kadima is subject to the completion of
financial audits, execution of definitive agreements, the
satisfaction of standard closing conditions.
About HOPE Therapeutics, Inc.
HOPE Therapeutics, Inc. (www.hopetherapeutics.com) is a
development stage healthcare delivery company that intends to
develop 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 to act as a
non-opioid treatment for chronic pain, as well as a treatment for
complicated UTI.
NRx has recently announced plans to submit a New Drug
Application for NRX-100 (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.
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 closing the acquisition of Kadima and
obtaining financing necessary to consummate the acquisition.
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 the Hope Therapeutics
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
Chief Business Officer,
NRx Pharmaceuticals
Co-Chief Executive Officer, HOPE
Therapeutics, Inc.
mduffy@nrxpharma.com
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SOURCE NRx Pharmaceuticals, Inc.
