Pasithea Therapeutics announces the opening of a mental health center

MIAMI BEACH, Fla., Jan. 26, 2022 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), an emerging biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders, today announced that its Wholly owned Pasithea Clinics will open a clinic in Los Angeles, Calif., to provide intravenous (“IV”) ketamine and other therapies to patients with treatment-resistant mental health problems. The company will continue to offer home ketamine therapy through its mobile home clinics in the Los Angeles area.

“Opening our first in-person clinic in the United States is an important milestone for the Company. Some new approaches in psychiatry cannot be administered 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 with treatment-resistant mental health conditions. This is a step forward in creating a hybrid model for Pasithea, complementing our home services,” said 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 effectiveness with drug-resistant depressive disorders. In 2008, rTMS was approved by the United States Food and Drug Administration (“FDA”) as a treatment for major depression in patients who are unresponsive to at least one antidepressant medication. A typical plan consists of five treatments per week over a period 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 over 50 years ago. It has recently been repurposed for the treatment of psychiatric disorders using significantly lower doses than anesthesia and is gaining traction 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 rapid, sustained effect. While the number of suggested treatments is decided on a case-by-case basis, a typical treatment plan consists of up to six infusions within two to three weeks.

About Pasithea Therapeutics Corp.

Pasithea Therapeutics Corporation is an American biotechnology company focused on the research and discovery of new effective treatments for psychiatric and neurological disorders. With an experienced team of experts in the fields of neuroscience and psychopharmacology, Pasithea develops new molecular entities for the treatment of psychiatric and neurological disorders. Pasithea is also focused on meeting the needs of patients currently suffering from mental illness by providing access to IV ketamine infusions in clinics and at home.

Pasithea has raised $60m through offerings with a current cash position of ≥$52m.

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 Company’s control. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements, which are based on information available to the Company as of the date of this release. These forward-looking statements are based on 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. Therefore, actual results could differ materially. 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. Contact

Dr Tiago Reis Marques
Chief executive officer
E: [email protected]

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
Onsite Communications, Inc.
Phone. : 212-452-2793
Email: [email protected]

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