Medical and technology-focused company HOPE Therapeutics, a subsidiary of NRx Pharmaceuticals, is set to acquire the Kadima Neuropsychiatry Institute, based in La Jolla, California, US.

This move aligns with the previously signed letter of intent for expanding the HOPE network.

Kadima is anticipated to become the cornerstone of HOPE's global network of interventional psychiatry clinics, which aim to provide treatments for conditions such as depression, anxiety, and post-traumatic stress disorder (PTSD).

Recognised for ketamine therapy for central nervous system (CNS) disorders, Kadima provides a suite of treatments for mental health conditions.

These therapies include ketamine therapy, nasal esketamine, transcranial magnetic stimulation, and medication management.

With a division specialising in psychedelic research, the company holds contracts with the US Department of Veterans Affairs and serves active-duty military personnel under various treatment programmes.

Following the acquisition, Kadima founder and CEO Dr David Feifel will serve as the chief medical innovation officer (CMIO) of HOPE, concentrating on the discovery and assessment of new treatments for CNS disorders.

His expertise will be vital in adopting an integrated, multi-modal treatment approach, which promises greater efficacy than ketamine therapy alone.

HOPE Therapeutics co-CEOs Jonathan Javitt and Matthew Duffy said: "David has helped pioneer the field of interventional psychiatry and is one of the few global thought leaders who has been able to span the worlds of academia and community health care delivery, serving the residents of his community, as well as active-duty military and veterans, in a town known for hosting some of America's most elite warriors.”

The completion of this acquisition is contingent upon the fulfilment of financial audits and the execution of definitive agreements. Standard closing conditions will also need to be satisfied.