HOPE Therapeutics, Inc., an NRx Pharma (NRXP) daughter company, Thursday said it has signed a Letter of Intent (LOI) to acquire a premier West Coast interventional psychiatric clinic.
No financial terms of the deal have been disclosed.
Additionally, as part of the deal, the founder of the clinic, a pioneer and nationally recognized leader in the use of advanced treatments in central nervous system (CNS) disorders, has agreed to join HOPE as Chief Medical Innovation Officer (CMIO).
HOPE intends to establish the clinic to be acquired as a model for its net work of clinics across the country, providing treatment to patients suffering from problems such as suicidal depression, post-traumatic stress disorder (PTSD) and other CNS disorders. The treatment options include Ketamine, Spravatoâ, Transcranial Magnetic Stimulation (TMS), talk therapy among others. Additionally, patients may also have access to clinical trials of new treatment modalities through these clinics.
"This clinic is the ideal foundation for Hope's clinic network; the practice provides state-of-the-art treatment for patients dealing with many CNS disorders and has highly efficient operations; these aspects can serve as a model for future clinics entering our network," said Jonathan Javitt, and Matthew Duffy, Co-CEOs of HOPE. "Additionally, we look forward to working with the founder as our CMIO, as we establish HOPE as a model for clinics that aim to provide the latest standard of care treatments for CNS healthcare providers nationwide."
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