NRx Prescription drugs Proclaims the Appointment of Stephen Willard, Chief Government Officer and Director

· Intensive expertise in Legislation, Finance, and Administration of Public and Non-public Biotechnology Firms
· Confirmed monitor document of making worth for shareholders
· Nationwide Science Board Presidential Appointee, 2018-2024
· Former roles at Federal Deposit Insurance coverage Company (FDIC) and E*Commerce Monetary

RADNOR, Pa., July 13, 2022 /PRNewswire/ – NRx Prescription drugs, Inc. (Nasdaq: NRXP): (“NRx Prescription drugs”, or the “Firm”), a clinical-stage biopharmaceutical firm, right now announcedthe appointment of Stephen Willard, as its Chief Government Officer (“CEO”) and a member of the Firm’s Board of Administrators. The Firm’s interim CEO, Robert Besthof, will proceed to help the Firm and return to his roles as Head of Operations and Chief Industrial Officer.

“We’re delighted to have attracted a candidate like Steve whose background and expertise align with NRx Prescription drugs’ present wants. Steve’s ardour to supply breakthrough therapies to handle vital unmet wants positions the Firm for achievement,” mentioned Patrick Flynn, a member of the Firm’s Board of Administrators. “We sit up for Steve’s management of the Firm within the subsequent levels of progress to learn sufferers, our shareholders, and the broader NRx staff.”

Mr. Willard brings a wealth of expertise within the administration of publicly traded biotechnology firms, collectively along with his background in legislation and finance. Most just lately, Mr. Willard served as CEO of Cellphire Therapeutics, the place he grew the corporate and shepherded their revolutionary human platelet platform by way of key medical trials, rising the corporate and considerably growing the share value. Previous to Cellphire, he served as CEO of publicly traded Flamel Applied sciences now generally known as Avadel Prescription drugs. Mr. Willard is presently serving a six-year time period from 2018-2024 as a presidential appointee to the Nationwide Science Board.

Mr. Willard’s profession in monetary companies contains authorities service as Affiliate Director of the Federal Deposit Insurance coverage Company (FDIC), the place he served in america Senior Government Service (SES) from 1991-1994, and on the board of E*Commerce Monetary Companies from 2000-2014. He has practiced legislation in New York, London, and Washington, D.C. Mr. Willard earned his undergraduate diploma from Williams School and attended Yale College the place he earned a JD in legislation.

“I’m honored to have been chosen by the NRx Prescription drugs Board to steer the Firm because it conducts its trials for NRX-101 within the remedy of Suicidal Bipolar Melancholy and continues to develop its pipeline of medication for despair, PTSD, and different potential neuroscience indications primarily based on greater than 90 issued and pending patents worldwide,” mentioned Willard. “The NRx Prescription drugs staff has constructed a unprecedented scientific, patent, and regulatory basis. I sit up for main the Firm, working with Robert and the NRx Prescription drugs management in its quest to convey NRX-101, a doubtlessly life-saving drugs, to sufferers.”

The Board of NRx Prescription drugs thanks Mr. Besthof for having assumed the extra obligations as interim CEO throughout this transition interval.

About NRX-101

As much as 50% of people with Bipolar Dysfunction try suicide over their lifetime, and estimates point out that as much as 20% could succumb to suicide. The one FDA-approved remedy for sufferers with bipolar despair and acute suicidal ideation and conduct (ASIB) stays electroconvulsive remedy (ECT). Standard antidepressants can enhance the danger of suicide in sure sufferers, therefore their labels comprise a warning to that impact. NRX-101 is a patented fastened dose mixture of D-cycloserine and Lurasidone, neither of which has proven habit potential. Primarily based on the outcomes of a Section II research, NRX-101 acquired Breakthrough Remedy designation (BTD) from the FDA for the Remedy of Extreme Bipolar Melancholy in Sufferers with ASIB after preliminary stabilization with ketamine or different efficient remedy.

NRX-101 is without doubt one of the first oral antidepressants presently in late stage medical research focusing on the NMDA-receptor within the mind, which represents doubtlessly a key new mechanism to deal with despair with and with out suicidality, PTSD and different indications. Up to now, NRX-101 is the one oral NMDA investigational drugs centered on bipolar despair in sufferers with acute and sub-acute suicidality.

Within the coming 12 months, the Firm goals to finish the FDA registration trials for NRX-101 underneath a Particular Protocol Settlement (SPA) awarded by the FDA.

About NRx Prescription drugs

NRx Prescription drugs, Inc. attracts upon a long time of collective, scientific, and drug-development expertise making use of progressive science to recognized molecules to handle very excessive unmet wants and convey improved well being to sufferers. NRx Prescription drugs is led by executives who’ve held management roles at Lilly, Pfizer, and Novartis in addition to main funding banking establishments.

Cautionary Observe Concerning Ahead-Wanting Statements

This announcement of NRx Prescription drugs, Inc. contains “forward-looking statements” throughout the which means of the “protected harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995, which can embody, however aren’t restricted to, statements concerning our monetary outlook, product growth, enterprise prospects, and market and trade traits and circumstances, in addition to the Firm’s methods, plans, goals, and targets. These forward-looking statements are primarily based on present beliefs, expectations, estimates, forecasts, and projections of, in addition to assumptions made by, and data presently accessible to, the Firm’s administration.

The Firm assumes no obligation to revise any forward-looking assertion, whether or not because of new data, future occasions or in any other case. Accordingly, you shouldn’t place reliance on any forward-looking assertion, and all forward-looking statements are herein certified by reference to the cautionary statements set forth above.

CORPORATE CONTACT

Molly Cogan

Sr. Director, World Communications

mcogan@nrxpharma.com

INVESTOR RELATIONS

Tim McCarthy

Investor Relations

tim@lifesciadvisors.com

SOURCE: NRx Prescription drugs



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