HOPE Therapeutics Secures Financing For Ketamine Clinic Expansion

HOPE Therapeutics, Inc., a subsidiary of NRx Pharmaceuticals, Inc. NRXP, announced plans to acquire a network of interventional psychiatry clinics, focusing on ketamine treatments. The acquisition and financing agreements, valued at $30 million, are backed by a qualified lender. The company signed a non-binding Term Sheet for five operational clinics in the Western United States, generating over $10 million in annual revenue.

The clinics will focus on treating conditions like suicidal depression, treatment-resistant depression (TRD), and PTSD. HOPE Therapeutics aims to create a unified, patient-centered approach, combining pharmaceutical therapies and FDA-approved technologies like Transcranial Magnetic Stimulation (TMS).

Co-CEOs Jonathan Javitt and Matthew Duffy emphasized the importance of this initiative. “We are delighted to take the critical first steps towards developing a network of clinics that can provide the highest possible level of care.”

HOPE Therapeutics projects annualized revenues of $100 million by mid-2025 through continued clinic acquisitions and anticipates potential operations in the United States, France, and the United Kingdom.

Read Also: The Potential Of Ketamir-2: A Safer Treatment For Mental Health Disorders And Neuropathic Pain, IND Filing Expected By Year-End

Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here. If you’re serious about the business, you can’t afford to miss out.

Ketamine Clinics And Treatments

Ketamine, originally an anesthetic, has gained significant attention in recent years for its off-label use in treating mental health conditions such as depression, PTSD, and treatment-resistant depression (TRD). The rise in ketamine assisted therapies is largely due to its rapid-acting properties, which offer relief where traditional antidepressants often fall short. As research progresses, treatments are becoming more refined, with new delivery methods like nasal sprays, topical creams and patient-controlled infusions enhancing accessibility and effectiveness.

Read Next: Defense Dept. Funds Ketamine Study For PTSD Treatment In 600 Service Members & Veterans

Photo: Courtesy of Sonis Photography via Shutterstock