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HOPE Therapeutics, Inc. and NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) Announce Agreement to Acquire Interest in Cohen and Associates, LLC for HOPE's Network of Interventional Psychiatry Clinics

1. HOPE Therapeutics signs LOI to acquire 49% of Cohen and Associates. 2. Cohen will serve as a foundational clinic in western Florida. 3. Acquisition expected to boost revenue and EBITDA for NRx Pharmaceuticals. 4. Cohen specializes in treatments for psychiatric disorders and CNS conditions. 5. NRx is advancing multiple drug applications with potential FDA designations.

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FAQ

Why Bullish?

The acquisition is expected to enhance revenue streams, similar to past clinic acquisitions in the biopharmaceutical space that led to increased market valuations.

How important is it?

The acquisition directly impacts revenue and market positioning, vital for a clinical-stage company like NRx.

Why Short Term?

Immediate financial benefits expected from the revenue contribution to NRx will manifest quickly.

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Cohen and Associates is a highly respected neuropsychiatry clinic in western Florida Cohen to serve as foundational clinic in the Sarasota - Bradenton area of Florida Acquisition expected to be immediately accretive to revenue and EBITDA , /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 the signing of a binding Letter of Intent (the "LOI") to purchase a 49% interest in Cohen and Associates, LLC ("Cohen"), founded by Dr. Rebecca Cohen.  Cohen is expected to serve as a foundational clinic for HOPE in the Sarasota-Bradenton region of western Florida.   HOPE Therapeutics, Inc. (PRNewsfoto/NRx Pharmaceuticals, Inc.) Cohen is one of the premier Interventional Psychiatry clinics in the region.  The clinic offers a full range of treatments for suicidal depression, PTSD and other CNS disorders, including ketamine, Spravato, Transcranial Magnetic Stimulation ("TMS") as well as medication management.  Dr. Cohen is an Interventional Psychiatrist and Psychopharmacologist specializing in the treatment of mood and anxiety disorders as well as a nationally recognized expert in TMS. Her practice was established in 2014 to deliver top tier Psychiatric evaluations and comprehensive clinical care. She has expanded the scope of her practice with the addition of outstanding colleagues and technologies to deliver the most evidence-based and compassionate care in the region.  Dr. Cohen's academic background spans Tufts University, Boston University, where she was recipient of the psychiatry department's Malamud Award for Excellence and Georgetown University. Dr Cohen has been honored as a Fellow of both the American Psychiatric Association and the International Clinical TMS Society. "We are delighted to welcome Rebecca and her team to the HOPE family.  Her extensive experience with neuroplastic therapies, combined with compassionate patient care exemplify our culture of bringing HOPE to life," said Jonathan Javitt, MD MPH and Matthew Duffy, Co-CEOs of HOPE Therapeutics."I am thrilled to be working with HOPE at this exciting juncture in the company's evolution.  Our goal will always be to deliver outstanding patient care by offering the best available treatments and individualized care," stated Dr. Cohen.The potential acquisition of Cohen is subject to the execution of definitive transaction documents and standard closing requirements.  Further details regarding the terms of the transaction will be disclosed at that time.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-101 additionally has potential as a treatment for complicated UTI.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 StatementsThe 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. These statements include, among others, statements regarding the entry into definitive transaction documents for the acquisition of Cohen and satisfaction of closing conditions necessary to consummate the acquisition of Cohen. 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, including, without limitation, whether the Company will receive the FDA's approval for its CNPV applications for NRX-100, the Company's ability to enter into definitive transaction documents, if at all, whether the Company will be able to obtain financing adequate to consummate the transactions contemplated by the LOI as well as other previously announced planned acquisitions, and the Company's ability to integrate Cohen and other planned acquisitions in a manner that is revenue and EBITDA accretive to NRx. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company's operations, results of operations, growth strategy, 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. For further information: Matthew Duffy Brian Korb Co-CEO, Hope Therapeutics, Inc. Managing Partner, astr partners Chief Business Officer, NRx Pharmaceuticals, Inc. (917) 653-5122 [email protected] [email protected] SOURCE NRx Pharmaceuticals, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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