NeuroRx secures HK$ 750 M capital commitment

NeuroRx, Inc (NeuroRx) has signed an agreement with GEM Global Yield LLC SCS ("GEM"), the New York based private alternative investment group to provide the NeuroRx with up to HK$ 750 million over a 30 month term following a public listing of NeuroRx's common stock. NeuroRx will use the funds to complete its phase 3 clinical trials and GMP manufacturing requirements in the US and China for NRX-101, an FDA-designated Breakthrough Therapy in development for suicidal bipolar depression. The company further plans to initiate phase 2 clinical trials in the treatment of Suicidal Post-traumatic Stress Disorder (PTSD) under its Cooperative Research and Development Agreement with the US Department of Veterans Affairs. The initial HK$ 750 Million will be in the form of a capital commitment that allows NeuroRx to draw down funds during the 30-month term by issuing shares of NeuroRx's common stock to GEM (or such persons as it may direct) and subject to share lending arrangement(s) being in place.

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