Neu­roRx se­cures $95M to fund PhI­II for NM­DA de­pres­sion drug; Trump re­vives sci­ence ad­vi­so­ry coun­cil

→ Af­ter kick­ing off a Phase III tri­al test­ing its NM­DA drug in sui­ci­dal bipo­lar de­pres­sion, Neu­roRx has se­cured ac­cess to around $95 mil­lion (HKD$750 mil­lion) to com­plete the pro­gram and fund the man­u­fac­tur­ing ac­tiv­i­ties. New York-based GEM Glob­al Yield has com­mit­ted to pro­vide the cap­i­tal — through pur­chas­ing shares — once Neu­roRx gets list­ed on a pub­lic mar­ket. The biotech, which was found­ed by bio­phar­ma vet Jonathan Javitt and psy­chi­a­try re­searcher Daniel Javitt (the broth­ers are the CEO and chair­man of the sci­en­tif­ic ad­vi­so­ry board, re­spec­tive­ly), can draw as much or as lit­tle of the agreed amount with­in a 30-month term. The plan is to de­vel­op NRX-101 in both the US, where it has a break­through ther­a­py des­ig­na­tion, and Chi­na.

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