- The acquisition of Cohen and Associates, a respected interventional psychiatry practice, by NRx subsidiary HOPE Therapeutics, is expected to be immediately accretive to revenue and EBITDA.
- Cohen, serving the Sarasota-Bradenton area in Florida, specializes in treatments, including ketamine and TMS, for mood disorders, PTSD, and suicidal depression.
- HOPE Therapeutics is expanding toward a target of 30 clinics with a $100 million run rate by the end of 2025.
NRx Pharmaceuticals (NASDAQ: NRXP), a clinical-stage biopharmaceutical company, and its wholly-owned subsidiary HOPE Therapeutics, Inc., a multi-site clinical care delivery organization, recently signed a binding letter of intent to acquire a 49% stake in Cohen and Associates, LLC, a respected neuropsychiatry clinic based in western Florida (https://ibn.fm/geIxF).
The agreement, announced on June 26, positions Cohen as a foundational clinic in the Sarasota-Bradenton region for HOPE’s growing network. Cohen and Associates, led by Dr. Rebecca Cohen, offers a comprehensive range of psychiatric care options, including ketamine infusions, Spravato, transcranial magnetic stimulation (“TMS”), and medication management for conditions such as suicidal depression and PTSD.
Founded in 2014, Cohen has established a reputation for delivering thorough psychiatric evaluations and interventional care. Dr. Cohen, an interventional psychiatrist and psychopharmacologist, is known nationally for her expertise in TMS. Her academic achievements include recognition from Tufts University, Boston University, and Georgetown University, and she has been honored as a Fellow of both the American Psychiatric Association and the International Clinical TMS Society.
“I am thrilled to be working with HOPE at this exciting juncture in the company’s evolution,” Dr. Cohen said. “Our goal will always be to deliver outstanding patient care by offering the best available treatments and individualized care.”
HOPE Therapeutics is building a network of interventional psychiatry clinics that combine advanced treatments such as TMS and ketamine with a digital therapeutic-enabled platform to improve outcomes. The company is targeting up to 30 clinics and a $100 million pro forma run rate by the end of 2025.
HOPE’s co-CEOs, Jonathan Javitt and Matthew Duffy, expressed confidence that the Cohen acquisition will support their mission of expanding evidence-based, compassionate care. “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,” they said.
According to the announcement, the transaction is expected to be immediately accretive to both revenue and EBITDA, underlining its strategic fit for HOPE Therapeutics’ clinic-based growth plans. The acquisition is subject to final agreements and standard closing conditions, with further details to be disclosed once definitive transaction documents are signed.
NRx Pharmaceuticals has been active on multiple clinical development fronts, working to advance therapies for mood disorders, PTSD, and acute suicidality through its NMDA-based platform. The company recently filed a new application for a Commissioner’s National Priority Voucher to accelerate review of NRX-100, a preservative-free intravenous ketamine formulation. In parallel, the company has filed an Abbreviated New Drug Application (“ANDA”) for NRX-100 with a request for priority review.
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
