• The Kadima Neuropsychiatry Institute acquisition is part of NRx subsidiary HOPE Therapeutics’ model for a planned national clinic network, and is expected to immediately improve revenue and EBITDA for NRx and HOPE Therapeutics.
• HOPE aims to develop a network of up to 30 interventional psychiatry clinics by the end of 2025, with a $100 million pro forma run rate by YE 25.
• Kadima specializes in interventional psychiatry, and Kadima’s founder Dr. David Feifel, will join HOPE as Chief Medical Innovation Officer.
• NRx’s broader pipeline includes FDA-designated treatments for bipolar depression and acute suicidality.

NRx Pharmaceuticals (NASDAQ: NRXP), a clinical-stage biopharmaceutical company, known for treating suicidal bipolar depression and acute suicidal depression, has signed a definitive agreement to acquire Kadima Neuropsychiatry Institute. The Kadima acquisition agreement (not yet closed) is part of HOPE’s strategy to establish a scalable mental health treatment network of interventional psychiatry clinics. (https://ibn.fm/DjOMz).

Kadima, located in La Jolla, California, will become the clinical and operational template for the proposed network. Known for its work in interventional psychiatry, the clinic’s integration with HOPE Therapeutics is expected to drive immediate financial gains, including EBITDA growth.

HOPE Therapeutics is targeting the acquisition of up to 30 clinics by the end of 2025, with a $100 million pro forma run rate by YE 25. The company is positioning these clinics to address critical gaps in care for patients experiencing suicidal depression, post-traumatic stress disorder, and other complex mental health conditions.

Dr. David Feifel, founder of Kadima and a recognized figure in interventional psychiatry, will take on the role of Chief Medical Innovation Officer at HOPE Therapeutics. His appointment is viewed as a key asset for the company’s clinical strategy. “Dr. David Feifel is a true pioneer in interventional psychiatry and we are honored to have him join our leadership team,” said HOPE Co-CEOs Dr. Jonathan Javitt and Matthew Duffy. “With his guidance, we are accelerating the buildout of a world-class clinic network that integrates cutting-edge science with community-based care.”

The acquisition of Kadima is part of a broader expansion by HOPE Therapeutics into the outpatient psychiatric treatment space. Additional agreements are already in place to acquire Dura Medical and a letter of intent has been signed with Neurospa TMS. This expansion reflects growing demand for more accessible, evidence-based interventions in psychiatric care, including ketamine-based treatments and neuromodulation techniques.

Kadima’s offerings include therapies that go beyond conventional medication management, reflecting a rising interest among investors and healthcare providers in new psychiatric modalities.

NRx Pharmaceuticals is concurrently advancing a drug development pipeline focused on central nervous system (“CNS”) disorders. Its lead asset, NRX-101, has received Breakthrough Therapy Designation from the FDA for treatment-resistant bipolar depression with acute suicidality. Another program, NRX-100, a preservative-free IV formulation of ketamine, has Fast Track status and is aimed at acute suicidality treatment.

For more information, visit the company’s website at www.NRxPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to NRXP are available in the company’s newsroom at https://ibn.fm/NRXP

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