Pasithea Therapeutics Announces Opening of Mental Health Clinic in Los Angeles and Broadens Focus Beyond Ketamine Treatments
January 26 2022 - 8:00AM
Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the
“Company”), a novel biotechnology company focused on the research
and discovery of new and effective treatments for psychiatric and
neurological disorders, today announced that its wholly owned
subsidiary, Pasithea Clinics, will open a clinic in Los Angeles,
California, to provide intravenous (“IV”) ketamine and other
therapies to patients suffering from treatment-resistant mental
health issues. The Company will continue offering in-home ketamine
therapy through its Los Angeles area at-home mobile clinics.
“The opening of our first in-person clinic in
the United States is a milestone for the Company. Certain novel
approaches in psychiatry cannot be delivered at home, such as
repetitive transcranial magnetic stimulation (“rTMS”). This
physical clinic will allow us to expand our services beyond IV
ketamine therapy and continue to address the important segment of
patients who are suffering from treatment resistant mental health
disorders. This is a step forward in creating a hybrid model for
Pasithea, complementing our at-home services,” stated Dr. Tiago
Reis Marques, CEO of Pasithea Therapeutics.
Repeated transcranial magnetic stimulation is a
therapeutic brain-stimulation technique based on the principle of
electromagnetic induction. First developed in 1985, rTMS has been
studied as a treatment for depression, psychosis, anxiety, and
other mental health conditions, and has shown particular efficacy
with drug-resistant depressive disorders. In 2008, rTMS was
approved for use by the U.S. Food and Drug Administration (“FDA”)
as a treatment for major depression for patients who do not respond
to at least one antidepressant medication. A typical plan consists
of five treatments per week over the course of four to six weeks
and is currently covered by insurance.
Ketamine is an FDA approved drug introduced to
the medical community as an anesthetic more than 50 years ago. It
has recently been repurposed for the treatment of psychiatric
disorders using significantly lower doses than in anesthesia and is
gaining ground as a promising treatment for mental health
disorders. In certain psychiatric conditions, such as
treatment-resistant depression (“TRD”) and post-traumatic stress
disorder (“PTSD”), it has shown remarkable efficacy and a rapid and
sustained effect. While the number of treatments suggested is
decided on a case-by-case basis, a typical treatment plan consists
of up to six infusions in the interval of two to three weeks.
About Pasithea Therapeutics
Corp.
Pasithea Therapeutics Corporation is a U.S.
biotechnology company focused on the research and discovery of new
and effective treatments for psychiatric and neurological
disorders. With an experienced team of experts in the fields of
neuroscience and psychopharmacology, Pasithea is developing new
molecular entities for the treatment of psychiatric and
neurological disorders. Pasithea is also focused on addressing the
needs of patients currently suffering with mental illness by
providing access to IV ketamine infusions both in clinics and
in-home settings.
Pasithea has raised $60 million through
offerings with a current cash position of ≥ $52 million.
Forward Looking Statements
This press release contains statements that
constitute “forward-looking statements.” Forward-looking statements
are subject to numerous conditions, many of which are beyond the
control of the Company. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to the Company on the date of this
release. These forward-looking statements are based upon current
estimates and assumptions and are subject to various risks and
uncertainties, including, without limitation, those set forth in
the Company’s filings with the SEC. Thus, actual results could be
materially different. The Company undertakes no obligation to
update these statements whether as a result of new information,
future events or otherwise, after the date of this release, except
as required by law.
Pasithea Therapeutics Corp. Company
Contact
Dr. Tiago Reis MarquesChief Executive OfficerE:
tiago@pasithea.com
Pasithea Therapeutics Corp. Investor
Relations
Lisa M. WilsonIn-Site Communications, Inc.T:
212-452-2793E: lwilson@insitecony.com
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