Release Details

• Florida's Agency for Health Care Administration (AHCA) approval is a critical regulatory step toward closing the Dura Medical acquisition
• Dura Medical, together with previously-announced acquisitions of Neurospa TMS, and Cohen and Associates, to provide coverage along the West Coast of Florida 
• Dura delivers a full range of precision psychiatry services for severe depression, PTSD and related CNS disorders, including Ketamine therapy and Transcranial Magnetic Stimulation (TMS), to veteran and civilian patients
• Acquisition expected to be accretive to revenue and EBITDA

MIAMI, Aug. 8, 2025 /PRNewswire/ -- HOPE Therapeutics™, Inc. ("HOPE"), a multi-site clinical care delivery organization and wholly-owned subsidiary of NRx Pharmaceuticals, Inc. (NASDAQ: NRXP), a clinical-stage biopharmaceutical company, today announced it has received final clearance and approval from the Florida Agency for Health Care Administration (AHCA) to proceed closing of the Dura Medical LLC acquisition, in connection with its change of ownership applications, a key regulatory step for closing.  Dura is revenue generating and EBITDA positive.

Dura Medical was founded in 2018 to offer a gold-standard, precision approach to treating mental health and chronic pain on the west coast of Florida.  The clinics leverage the latest interventional psychiatry procedures, including Ketamine Infusion Therapy, Transcranial Magnetic Stimulation (TMS), Spravato® and Stellate Ganglion Blocks, augmented by traditional psychiatry and therapy to provide a full continuum of care for people with depression, suicidality, PTSD, anxiety, and related disorders.

A former nurse anesthetist in the US Army Reserve, Mr. Durand and Dura Medical are proud to provide for the Veterans Affairs Community Cares Network (VA CCN) under an agreement with the US Department of Veterans Affairs to ensure that military veterans have full access to Ketamine Infusion Therapy, TMS and Spravato®, in addition to Traumatic Incident Reduction Therapy (TIR).

"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 excited to align mission with the HOPE Network and to lead HOPE's expansion in Florida and beyond," said Stephen Durand, Founder of Dura Medical.

"We are pleased to receive this clearance from AHCA and will move expeditiously toward closing this landmark acquisition for HOPE."  said Jonathan Javitt, MD MPH and Matthew Duffy, Co-CEOs of HOPE Therapeutics. "Further, Mr. Durand has been a pioneer in combining the use of psychedelic medications with neuroplastic technologies, including TMS in the treatment of suicidal depression and PTSD. We are excited to incorporate Stephen and Liz Durand's tradition of excellence and commitment to patient care for civilians and veterans alike into HOPE's Florida network."

The intended closing of the of Dura acquisition is subject to satisfaction of standard closing conditions.   

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. NRx plans to file an NDA for Accelerated Approval for NRX-101 in patients with bipolar depression and suicidality or akathisia.

NRx recently filed for a new Commissioner's National Priority Voucher (CNPV) for NRX-100 (preservative free IV ketamine); the CNPV is designed to facilitate approval of drugs to enhance the health interests of Americans.  Additionally, NRx recently filed an Abbreviated New Drug Application (ANDA) for NRX-100 for use in ketamine's currently approved indications.  Further, the Company has initiated a New Drug Application filing for NRX-100 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.

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.

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. 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, including uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy, and, among other things, liquidity. 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.

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SOURCE NRx Pharmaceuticals, Inc.