BIG ROCK PARTNERS ACQUISITION CORP. ANNOUNCES MERGER WITH NEURORX, INC. COMBINED COMPANY TO HAVE AN ESTIMATED POST-TRANSACTION EQUITY VALUE IN EXCESS OF $500 MILLION (EXCLUDING POTENTIAL EARNOUT PAY

BIG ROCK PARTNERS ACQUISITION CORP. ANNOUNCES MERGER WITH NEURORX,

COMBINED COMPANY TO HAVE AN ESTIMATED POST-TRANSACTION EQUITY VALUE

IN EXCESS OF $500 MILLION (EXCLUDING POTENTIAL EARNOUT PAYMENTS),

ASSUMING A SHARE PRICE OF AT LEAST $10.00 PER SHARE

NeuroRx, Inc. is a clinical stage, small molecule pharmaceutical

company which develops novel therapeutics for the treatment of

COVID-19 (RLF-100 or ZYESAMI (aviptadil) ) and

Bipolar Depression (NRX-100, 101)

Delray Beach, FL December 14, 2020 Big Rock

Partners Acquisition Corp. ( Big Rock ) (NASDAQ:

BRPA), a special purpose acquisition company, announces that it has

entered into an Agreement and Plan of Merger with NeuroRx, Inc.

( NeuroRx ), a clinical stage, small molecule

pharmaceutical company. NeuroRx develops novel therapeutics for the

treatment of COVID-19 (RLF-100 or ZYESAMI

(aviptadil) ) and Bipolar Depression (NRX-100, 101). Under

the terms of the transaction, Big Rock and NeuroRx will merge and

the company is expected to continue to trade on the Nasdaq Stock

Market under the symbol NRXP. The transaction is

expected to occur in the first or second quarter of 2021. As a

public Nasdaq-listed company, NeuroRx expects to have increased

access to capital to continue development of its innovative drug

pipeline targeting Central Nervous System (CNS)/Psychiatry and

Respiratory Disease.

An Innovator in Mental Health and Respiratory Drug

is a clinical stage, small molecule pharmaceutical company which

develops novel therapeutics for the treatment of central nervous

system disorders and life-threatening pulmonary disease.

NeuroRx's two main drugs are ZYESAMI (aviptadil)

which is an application for COVID-related respiratory failure and

focuses on suicidal bipolar depression and PTSD. ZYESAMI is a

synthetic human Vasoactive Intestinal Peptide (VIP), a 28

amino-acid natural peptide with 50 years of research evidence led

by the late Prof. Sami Said, documenting protection from Lung

Injury by protecting type II epithelial cells. NRX-101 is a

fixed-dose combination of D-cycloserine and lurasidone that has

advanced to phase 3 with FDA Breakthrough Therapy Designation, a

Special Protocol Agreement, Biomarker Letter of Support, and Fast

ZYESAMI (aviptadil) Therapeutic for Respiratory Failure in

COVID-19 and other life-threatening respiratory

established a commercial development partnership with Relief

Therapeutics Holding AG (SWX:RLF, OTCQB:RLFTF)

( Relief ) in March 2020 for global commercialization

of aviptadil which has been the subject of previous press

NRX 100/101 Anti-Depressant Drug Regimen

NRX-100/101 is being developed based on Prof. Daniel

Javitt's (Chair of NeuroRx's Scientific Advisory Board)

patented discovery that drugs targeting both the NMDA and 5-HT2A

receptors in the brain have the potential to treat both depression

and suicidality without the hallucinations caused by most NMDA

inhibitors and without the potential for suicide attributable to

other 5-HT2A inhibitor drugs:

Specific Focus on Suicidal Bipolar

Depression: Over 50% of individuals with Bipolar Disorder

attempt suicide over their lifetime. Competitors' pipeline

products are focused on Major Depressive Disorder (MDD) and

Treatment Resistant Depression (TRD)

Potential Stabilization for acutely suicidal

patients after a single dose of NRX-100 (ketamine): The

sequential drug treatment regimen aspires to maintain remission

from depression and suicidal ideation after a single, initial

administration of NRX-100 (ketamine). In numerous clinical studies,

ketamine has shown rapid-onset, antidepressant/anti-suicidal

effects. Ketamine is well known to have potential for addiction,

hallucination, vomiting, and neurotoxicity with repeated

Convenience: In contrast to repeated use

of ketamine, NRX-101 is expected to allow treatment at home after

an initial stabilization with NRX-100 (ketamine) in a clinical

NRX-101 Not Expected To Be a Controlled

Substance: Unlike ketamine and its derivatives, the two

active ingredients of NRX-101 are not classified as controlled

substances by the Drug Enforcement Administration

Seasoned Management and Board

management team is comprised of seasoned industry veterans, led by

Founder, Chairman & CEO Jonathan C. Javitt, MD, MPH, Robert

Besthof, MIM (Chief Commercial Officer), William Fricker, MBA, CPA

(Chief Financial Officer) and Alessandra Daigneault, JD (Corporate

Secretary), who are expected to continue to run the combined

company, post-transaction.

officers and members of the Board of Directors of Big Rock will

resign in connection with the closing of the transactions. The

Board of Directors of the combined company will initially consist

of seven members, including Prof. Jonathan Javitt.

Management Commentary

Javitt stated, We at NeuroRx are excited to be combining

with Big Rock Partners and its base of dedicated investors. Our

focus from the outset has been to serve patients with

life-threatening conditions who are not served by traditional

pharmaceutical approaches. As we have gotten to know our new

partners at Big Rock Partners, it is clear to us that they share

the same values and commitment to putting the patient

Summary of Transaction

the terms of the transaction, Big Rock will issue to

NeuroRx's current equity holders an aggregate of 50 million

shares of Big Rock common stock for their interests in NeuroRx,

representing $500 million of equity consideration, assuming a value

of $10.00 per common share.

to certain conditions, an aggregate of 25 million additional shares

of Big Rock common stock will be issued to NeuroRx pre-merger

equity holders if, prior to December 31, 2022, (1) RLF-100 receives