NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) and neurocare Group AG announced a joint partnership to build a nationwide network of interventional psychiatry clinics that combine ketamine, transcranial magnetic stimulation (TMS), hyperbaric oxygen therapy and digital therapeutics for depression, PTSD and other serious mental health disorders. The collaboration will leverage neurocare’s portfolio of more than 400 Apollo® TMS devices and its neurocareOS platform, while integrating NRx’s preservative‑free ketamine (NRX‑100) and oral NRX‑101 combination therapy. The companies aim to deliver a fully integrated treatment protocol and expand access to patients across the United States by the end of 2026.
The partnership marks a strategic shift for NRx, which has been transitioning from a pure R&D model to a hybrid drug‑development and clinical‑services platform. By combining its drug pipeline with neurocare’s established clinic infrastructure, NRx can accelerate patient enrollment, generate early revenue, and create a data ecosystem that supports regulatory submissions and market adoption of its lead candidates. The alliance also provides neurocare with a proprietary pharmacologic portfolio that can enhance the value proposition of its existing TMS network and differentiate it from competitors.
Clinical data from a pilot program with a state first‑responder agency demonstrated a response rate of 87% and a remission rate of 72% in patients with treatment‑resistant depression who received combined TMS and neuroplastic drugs. These results support the premise that integrated care can produce superior outcomes compared with single‑modality treatment, and they provide a strong evidence base for the partnership’s value proposition.
NRx’s financial position has improved since the announcement. The company recently repaid its debt to Anson Funds and has begun generating revenue through its HOPE Therapeutics clinic network, reporting $240,000 in Q3 2025 revenue. The partnership is expected to accelerate revenue growth and provide a steady cash flow stream that can offset the high costs of drug development. Neurocare’s financial health is bolstered by its extensive device portfolio and established operating model, giving the alliance a solid foundation for scaling nationwide.
Both NRx’s lead candidates have received significant regulatory designations: NRX‑100 has Fast Track status and NRX‑101 has Breakthrough Therapy designation for suicidal depression and bipolar depression. The partnership will allow the companies to pursue joint regulatory pathways and leverage the data generated from the integrated clinics to support accelerated approvals and market access.
Dr. Jonathan Javitt, CEO of NRx, said the alliance “addresses the fragmented nature of neuroplastic therapy and positions the company to deliver a comprehensive, data‑driven treatment model that can improve patient outcomes and generate sustainable revenue.” Tom Mechtersheimer, CEO of neurocare, added that the collaboration “offers patients and payers a fully integrated solution that combines proven technologies with innovative pharmacology, creating a differentiated market offering.”
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