Pasithea Therapeutics recently raised $24 million at its initial public offering (“IPO”). The Company’s Common Stock began trading on The Nasdaq Capital Market on September 15, 2021, under the symbol “KTTA.”
- Pasithea Clinics partners with ZEN Healthcare – a network of health clinics in Central London – to offer ketamine infusion therapy for the treatment of mental health disorders
- Ketamine in sub-anesthetic doses has shown to be highly effective at treating some psychiatric disorders, such as treatment resistant depression and post-traumatic stress disorder
Miami Beach, FL / October 14, 2021 — 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, has partnered with ZEN Healthcare to offer intravenous (“IV”) ketamine therapy to patients suffering from treatment-resistant mental health issues. Initially, the treatment will be offered in Knightsbridge, London, beginning October 2021.
Pasithea Therapeutics recently raised $24 million at its initial public offering (“IPO”). The Company’s Common Stock began trading on The Nasdaq Capital Market on September 15, 2021, under the symbol “KTTA.”
Pasithea Clinics has clinic partnerships both in the United States and in the United Kingdom to provide IV ketamine treatment. In the U.K., it has partnered with ZEN Healthcare – a network of health clinics in London. In the U.S., it has partnered with The IV Doc, Inc., to provide in-home IV ketamine infusions. Both partnerships offer rapid exposure and expansion opportunities.
“With mental health cases on the rise, fueled even more so by the pandemic, new treatment therapies are urgently needed for those patients who are not responding to traditional treatments. Evidence from dozens of trials over the past two decades consistently supports the efficacy of ketamine in improving symptoms in some mental health disorders. We are thrilled to be able to provide this new treatment approach in the U.K. for those patients who are deemed eligible to receive it,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.
“This launch marks a significant milestone for Pasithea Clinics and for patients in the U.K. suffering with mental health conditions. We look forward to growing our specialty clinics network while we simultaneously progress with our drug development program to move the needle forward for better mental health care,” concluded Dr. Reis Marques.
“This is an exciting opportunity for Pasithea Clinics to offer ground-breaking therapies to those who can really benefit. Our highly trained professionals are taking an integrative approach that combines the IV ketamine infusion therapy with psychiatric support. Today, there is still much misunderstanding about ketamine and its application in a psychiatric setting, but the potentially rapid and potent antidepressant effects are beginning to be recognized within the regulatory and scientific communities. People struggling with their mental health ultimately deserve to explore every avenue to recovery without social stigmas. We believe we can become the best-in-class provider of IV ketamine treatments,” said Dr. Yassine Bendiabdallah, Managing Director of Pasithea Clinics in the UK.
Ketamine is a U.S. Food and Drug Administration (“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 now 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.
Major Depression is the leading cause of long-term disability worldwide, according to the World Health Organization, with existing treatments having limited success rates, numerous side effects and onset of action delayed by several weeks. Studies have shown that with IV ketamine treatment, up to 70% of those who receive this treatment can eventually show a clinical response. While the number of treatments suggested is done 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.
About ZEN Healthcare
ZEN Healthcare is a luxury pharmacy and health clinic in London with three branches – Baker Street, Knightsbridge and Holborn. The clinics comprise a multidisciplinary group of Private GPs, anti-ageing doctors, pharmacists, nutritionists, dermatologists and psychotherapists, as well as intravenous infusions specialists. ZEN Healthcare has been running pioneering IV therapies in London for six years.
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 Marques
Chief Executive Officer
Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
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