HOPE Therapeutics Partners with Dura Medical for Expansion

HOPE Therapeutics and Dura Medical Collaboration

HOPE Therapeutics, Inc. is excited to announce its definitive purchase agreement with Dura Medical, marking a significant step in establishing a comprehensive network of interventional psychiatry clinics powered by NRx Pharmaceuticals, Inc. (NASDAQ: NRXP). This strategic acquisition not only aims to enhance mental health services but also expands the reach of HOPE's innovative treatment options to patients in need.

Expanding Mental Health Services

This acquisition represents a major milestone as Dura Medical, alongside previously acquired Neurospa TMS, will soon deliver extensive psychiatry services across the West Coast. Patients suffering from severe depression and PTSD will benefit from an array of treatments, including Ketamine Therapy and Transcranial Magnetic Stimulation (TMS). Notably, these treatments target veterans and civilians alike, emphasizing HOPE's commitment to accessible mental health care.

Leadership and Vision for the Future

Mr. Stephen Durand, founder of Dura Medical, has been appointed as Director of Clinic Operations for HOPE. He brings a wealth of experience and a robust vision aimed at combating mental health crises. "We founded Dura Medical with the mission to reduce suicide in our community and aim to treat more than 10,000 people by 2026. We're thrilled to align our mission with the HOPE Network," Durand stated.

The Importance of Innovative Treatments

Founded in 2018, Dura Medical utilizes the latest techniques in psychiatric care, combining traditional therapy with advanced methodologies such as Ketamine Infusion Therapy and TMS. This integrated approach allows for a full spectrum of care, addressing disorders such as depression, PTSD, suicidality, and anxiety. As Mr. Durand noted, the clinic’s mission centers on creating a supportive environment for those needing mental health interventions.

A Commitment to Veterans

As a US Army Reserve Veteran, Durand is proud of Dura Medical’s partnership with Veterans Affairs Community Cares Network (VA CCN), ensuring that military veterans have access to critical mental health treatments. This important collaboration underscores HOPE's commitment to the veteran community, aiming to provide innovative and empowering therapeutic options for those who have served.

The Future of HOPE Therapeutics

With the planned acquisition, HOPE Therapeutics is set to establish itself as a leader in interventional psychiatry. The Company is confident in the synergy between its objectives and Dura Medical’s mission. Dr. Jonathan Javitt and Mr. Matthew Duffy, Co-CEOs of HOPE, expressed their enthusiasm about integrating Dura's traditions into HOPE's operational framework.

"Steve Durand has pioneered the marriage of psychedelic medications with neuroplastic therapies, notably TMS, for treating life-threatening mental health conditions. We are eager to blend this expertise into HOPE's expanding Florida network," they shared. This collaboration is anticipated to greatly enhance patient care and expand the clinic’s reach.

Anticipated Closing Actions

The closing of the Dura acquisition is contingent upon successful financial audits, regulatory approvals, and meeting customary closing conditions. As these processes unfold, HOPE Therapeutics is preparing to launch its enhanced service offerings, aiming to set new benchmarks in mental health care.

About HOPE Therapeutics, Inc.

HOPE Therapeutics is dedicated to developing a leading network of interventional psychiatry clinics. The Company focuses on providing patients with advanced treatment options, including psychedelic medications and neuroplastic therapies, which have been shown to offer substantial relief to those struggling with suicidal depression and other related issues.

About NRx Pharmaceuticals, Inc.

NRx Pharmaceuticals is a biopharmaceutical innovator focused on providing novel therapeutics for central nervous system disorders. The Company has developed a pipeline targeting significant conditions like suicidal bipolar depression and PTSD. Its investigational therapies, including NRX-101, have received FDA Breakthrough Therapy Designation, reflecting their potential to transform treatment landscapes.

Frequently Asked Questions

What services will Dura Medical provide under HOPE Therapeutics?

Dura Medical will offer a range of precision psychiatry services, including Ketamine Therapy and TMS, to patients, particularly targeting depression and PTSD.

Who will lead the clinic operations in Florida?

Mr. Stephen Durand, the founder of Dura Medical, has been appointed as the Director of Clinic Operations.

What is the goal of the acquisition?

The acquisition aims to expand HOPE's network of interventional psychiatry clinics and enhance treatment options available to patients.

How will this partnership benefit veterans?

Through partnerships with the Veterans Affairs Community Cares Network, treatment access will be improved for military veterans needing mental health care.

What are the next steps for HOPE Therapeutics?

HOPE is focused on closing the acquisition, which will require financial audits and regulatory approvals to fully operationalize the enhanced services.

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