Pasithea Therapeutics Initiates New Chemical Entity Drug Development Program in Multiple Sclerosis
February 03 2022 - 8:00AM
Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the
“Company”), a biotechnology company focused on the research and
discovery of new and effective treatments for psychiatric and
neurological disorders, today announced a new chemical entity
(“NCE”) development program and named Massachusetts-based Hooke
Laboratories as its research partner.
The Company aims to develop a tolerizing vaccine
for multiple sclerosis (“MS”), a potentially disabling autoimmune
disease in which the immune system attacks myelin, the protective
sheath that surrounds nerves in the brain and spinal cord. MS
affects an estimated 2.8 million people worldwide. Preclinical work
will be conducted at Hooke Laboratories, a full-service Contract
Research Organization (“CRO”) with deep experience in experimental
autoimmune encephalomyelitis (“EAE”), the standard animal model of
MS.
Pasithea’s Chairman, National Academy of
Sciences Professor Lawrence Steinman, will help lead the program.
Prof. Steinman is a world recognized leading authority in MS, and
his research led to the development of the drug Tysabri, which is
approved to treat patients with MS and Crohn's disease.
“Our decision to initiate a program in MS is a
strong strategic fit and a natural progression of our work and
mission,” stated Dr. Tiago Reis Marques, Chief Executive Officer of
Pasithea Therapeutics. “Prof. Steinman’s expertise, along with our
capabilities in central nervous system disorders, position us well
to develop a new approach for the treatment for MS.”
“Our goal is to develop a tolerizing vaccine
with a favorable safety profile and high efficacy, following on
recently discovered mechanistic links driving the pathophysiology
of MS,” stated Prof. Lawrence Steinman, Chairman of Pasithea
Therapeutics. “The clinical potential of this strategy is large and
exciting, as it can provide a novel method of treating a
fundamental cause of the disease.”
“Hooke is the world's most experienced EAE CRO,
and we are delighted to be working with Pasithea to advance this
important research program,” said Suzana Marusic, MD, PhD, Hooke's
founder and a pioneer in the development of adoptive transfer EAE
models in C57BL/6 mice.
About Multiple Sclerosis
Multiple sclerosis is a chronic and potentially
disabling autoimmune disease, and the most common neurodegenerative
disease of the central nervous system in young adults. The
pathological hallmark of MS is the formation of demyelinating
lesions in the brain and spinal cord, with the immune system
attacking the myelin sheath that normally protects nerve fibers in
the brain, spinal cord, and optic nerve. There are now 2.8 million
people worldwide who have MS, and every five minutes, someone,
somewhere in the world is diagnosed with this disorder.
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 ContactDr.
Tiago Reis MarquesChief Executive OfficerE: tiago@pasithea.com
Pasithea Therapeutics Corp. Investor
RelationsLisa M. WilsonIn-Site Communications, Inc.T:
212-452-2793E: lwilson@insitecony.com
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