HOPE Therapeutics, an interventional psychiatry network wholly owned by NRx Pharmaceuticals (Nasdaq: NRXP), today announced it was buying Dura Medical per the previously announced non-binding letter of intent.
No financial details were disclosed. Stephen Durand Dura Medical founder will now be the director for Florida clinic operations.
Hope stressed Dura’s positive EBITDA and revenue. Dura Medical, founded in 2018, treats chronic pain and mental illness on the west side of Florida. It also offers ketamine treatment. The clinics combine psychiatry techniques, like transcranial electromagnetic stimulation (TMS), Spravato or Stellate Ganglion Blocks with traditional psychiatry. This provides a continuum of treatment for depression, suicidality PTSD anxiety, related disorders and more.
Dura Medical was founded with the goal of reducing suicides in our local community. We aim to treat 10,000 patients by 2026. We’re excited to align mission with the HOPE Network and to lead HOPE’s expansion in Florida and beyond,” Durand said.
Treating veterans
Durand was a U.S. Army Reserve Veteran, and Dura Medical is providing for Veterans Affairs Community Cares Networks (VA CCN), under an agreement between the U.S. Department of Veterans Affairs. This ensures that veterans of military service have access to this type of treatment.
Steve Durand was a pioneer when it came to combining psychedelics with neuroplastic therapies, like TMS. This treatment is used for suicidal thoughts and PTSD. Dura’s dedication and excellence to care of civilians as well as veterans will be incorporated into HOPE Therapeutics’ Florida network.
NRx announced recently that it would be filing a New Drug Application (NDA) for NRX 100 (IV ketamine), for the treatment of depression and suicidal thoughts. This is based on the results of controlled clinical trials, conducted by the U.S. National Institutes of Health, as well as newly acquired data, obtained from French authorities licensed through data-sharing agreements.
NRx announced to investors that it had been awarded Fast Track Designation by the FDA for its development of ketamine NRX-100 as part a protocol designed to treat acute suicidality in patients.