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Pasithea Therapeutics Awarded a Drug Development Research Grant

Pasithea Therapeutics Awarded a Drug Development Research Grant

— AUD $1 million (U.S $694,000) grant transferred as part of Alpha-5 Integrin, LLC transaction —
— Provides approximately U.S. $694,000 of non-dilutive funding —

MIAMI BEACH, Fla., July 14, 2022 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (Nasdaq: KTTA) 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 the availability of an AUD $1 million (U.S. $694,000) drug development research award following the Company’s acquisition of Alpha-5 integrin, LLC (“Alpha-5”). The grant was awarded by FightMND, the largest independent funder of amyotrophic lateral sclerosis (“ALS”)/motor neuron disease (“MND”) research in Australia.

Pasithea is developing a monoclonal antibody (mAbs) for the treatment of ALS and other neuroinflammatory disorders. Currently, there is no cure for ALS, and there are no effective treatments to halt or slow the progression of the disease. Alpha-5/beta-1 integrin expression is significantly increased in ALS animal models and post-mortem human ALS and significantly upregulated with disease progression. Pasithea has multiple monoclonal antibody candidates against alpha-5/beta-1 integrin. Treatment with these antibodies extends survival and improves motor function in the SOD1 mice model of ALS.

“With the transfer of this grant, we will have a source of non-dilutive funds to test our monoclonal antibodies in the TDP-43 mouse model and progress the candidate toward the clinic. Ultimately, we aim to help ALS/MND patients who are in dire need of effective therapy,” stated Dr. Tiago Reis Marques, CEO of Pasithea.

About Amyotrophic Lateral Sclerosis

ALS is a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord, causing loss of muscle control. It most commonly affects people between the ages of 40 and 70, with an average age of 55 at the time of diagnosis. It affects as many as 30,000 patients in the United States, with 5,000 new cases diagnosed each year. The average life expectancy after diagnosis is two to five years, but some patients may live for years or even decades. While 5-10% of cases are hereditary (familial ALS), the large majority of cases (90-95%) are not hereditary (Sporadic ALS). The cause of ALS is not completely understood and multiple complex factors may contribute to the death of motor neurons. Currently there is no known cure or treatment that halts or reverses the progression of ALS, and FDA only approved 2 medications so far for the treatment of this disorder, both shown to modestly slow the progression of ALS.

About FightMND

Founded in 2014, FightMND was established in Australia with the purpose of finding effective treatments and ultimately a cure for Motor Neuron Disease (MND), also referred to as ALS or Lou Gehrig’s Disease. FightMND, with its vision of a world without MND, is the largest independent funder of MND research in Australia. What FightMND has done since 2014, is be the voice and the guiding star for Australians who want to fight “The Beast”. Integral to this vision is the determination to help facilitate the translation of the growing body of new knowledge about the disease into a cure for MND patients in Australia and abroad. For more information about FightMND, visit the website at https://fightmnd.org.au.

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.

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
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released July 14, 2022

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Pasithea Therapeutics to Participate in the H.C. Wainwright 1st Annual Mental Health Conference: Neuropsychiatry, Psychedelics and Beyond

Pasithea Therapeutics to Participate in the H.C. Wainwright 1st Annual Mental Health Conference: Neuropsychiatry, Psychedelics and Beyond

MIAMI BEACH, Fla., June 23, 2022 (GLOBE NEWSWIRE) — 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 Chief Executive Officer, Dr. Tiago Reis Marques, will participate in the H.C. Wainwright 1st Annual Mental Health Conference: Neuropsychiatry, Psychedelics and Beyond, as follows:

Date:Monday, June 27, 2022
Time:10:30 a.m. ET
Location:The Lotte New York Palace Hotel

Investors participating in the conference who would like to schedule a one-on-one meeting with Pasithea’s CEO may do so by contacting their H.C. Wainwright representative or registering HERE.

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 Therapeutics Corp. Company Contact
Dr. Tiago Reis Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released June 23, 2022

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Pasithea Therapeutics Acquires Alpha-5 Integrin, LLC

Pasithea Therapeutics Acquires Alpha-5 Integrin, LLC

– Alpha-5 is a potentially first-in-class monoclonal antibody for the treatment of amyotrophic lateral sclerosis (ALS) and other neurological diseases –
– Expands pipeline across Pasithea’s core therapeutic areas to drive enhanced growth –
– Closing consideration of 3.26 million shares of Pasithea common stock –
– Pasithea to hold a webcast on June 22 at 9 a.m. ET to discuss the transaction –

MIAMI BEACH, Fla., June 22, 2022 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), today announced its acquisition of Alpha-5 integrin, LLC (“Alpha-5”), a privately-held preclinical-stage company developing a monoclonal antibody (mAbs) for the treatment of amyotrophic lateral sclerosis (“ALS”) and other neuroinflammatory disorders, such as Multiple Sclerosis (“MS”).

Alpha-5’s lead therapeutic candidate has a novel mechanism of action with the potential to improve clinical outcomes in patients with ALS, and is supported by post-mortem studies and with reproducible significant improvement in behavior and survival in the SOD1 mice model. The acquisition includes Alpha-5 proprietary antibodies with novel intellectual property and brings to Pasithea a group of seasoned scientists and a state-of-the-art laboratory.

The Company acquired all of the outstanding equity interests in Alpha-5 at an enterprise value for $3.75 million, payable in 3.26 million shares of Pasithea common stock, valued at $1.15 per share, an 11% premium to the closing price on June 21, plus 1 million warrants. An entity controlled by Paul B. Manning, Chairman and CEO of PBM Capital, a healthcare-focused investment firm, is Alpha-5’s majority owner and, following the transaction, will own approximately 10% of Pasithea common stock. Cassel Salpeter & Co. acted as financial advisor to the Company on this transaction.

“This agreement with Pasithea represents the culmination of years of work by Alpha-5 researchers, successfully leveraging their deep scientific expertise in the integrin space. We believe Pasithea will be well-positioned to apply its capabilities to move this asset forward and make an impact on ALS disease for the benefit of patients,” said Paul B. Manning.

“Treatments for ALS are extremely limited. Only two drugs are currently approved, with minimal impact on disease, and the majority of patients progress to death within a few years of symptom onset. The Alpha-5 acquisition is transformative for Pasithea, by adding a new drug with a novel mechanism of action to our pipeline, while preserving our strong cash position. In addition to the Alpha-5 development program, we will also acquire a wet lab and scientific team to develop our existing tolerizing vaccine and complementary program. Our plan is to file an Alpha-5 investigational new drug application (IND) with an orphan drug designation by the end of 2023,” stated Dr. Tiago Reis Marques, CEO of Pasithea.

Stanford Professor Larry Steinman, Chairman of the Board and co-founder of Pasithea and a minority owner of Alpha-5 said, “My work has been instrumental for the discovery of natalizumab, an anti-alpha 4 integrin mAb. This was the first drug developed in the class of selective adhesion molecule inhibitors and a potent therapeutic for multiple sclerosis. We believe that alpha-5 integrin antibody can also be transformative in the treatment of other neurological disorders, such as ALS or MS. Post-mortem human studies and preclinical work conducted so far support this therapeutic target and we are excited to move it into clinical trials.” Professor Steinman recused himself from the vote to approve the transaction.

Transaction Details

At the closing of the transaction, the Company acquired all of Alpha-5’s issued and outstanding equity interests in exchange for 3,260,870 shares of Pasithea common stock plus warrants to acquire an additional 1,000,000 shares at an exercise price of $1.88 per share for a period of five years. The number of shares was calculated by dividing a $3.75 million enterprise value by $1.15 per share of Pasithea Common Stock, an 11% premium to the closing price on June 21. There are potential future earnouts based on net sales. There will be no post-closing adjustments for cash and working capital.

To further discuss the transaction, Pasithea´s management will host a webcast as follows:
   
Date: June 22, 2022
Time: 9 a.m. ET
URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=aph1RpCR
   
The webcast will be accessible on the Investors section of the website, www.ir.pasithea.com, and will be archived for 90 days following the event.

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 Amyotrophic Lateral Sclerosis

ALS is a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord, causing loss of muscle control. It most commonly affects people between the ages of 40 and 70, with an average age of 55 at the time of diagnosis. It affects as many as 30,000 patients in the United States, with 5,000 new cases diagnosed each year. The average life expectancy after diagnosis is two to five years, but some patients may live for years or even decades. While 5-10% of cases are hereditary (familial ALS), the large majority of cases (90-95%) are not hereditary (Sporadic ALS). The cause of ALS is not completely understood and multiple complex factors may contribute to the death of motor neurons. Currently there is no known cure or treatment that halts or reverses the progression of ALS, and FDA only approved 2 medications so far for the treatment of this disorder, both shown to modestly slow the progression of ALS.

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
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released June 22, 2022

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Pasithea Therapeutics Acquires Alpha-5 Integrin, LLC

Pasithea Therapeutics Acquires Alpha-5 Integrin, LLC

– Alpha-5 is a potentially first-in-class monoclonal antibody for the treatment of amyotrophic lateral sclerosis (ALS) and other neurological diseases –
– Expands pipeline across Pasithea’s core therapeutic areas to drive enhanced growth –
– Closing consideration of 3.26 million shares of Pasithea common stock –
– Pasithea to hold a webcast on June 22 at 9 a.m. ET to discuss the transaction –

MIAMI BEACH, Fla., June 22, 2022 (GLOBE NEWSWIRE) — Pasithea Therapeutics Corp. (Nasdaq: KTTA) (“Pasithea” or the “Company”), today announced its acquisition of Alpha-5 integrin, LLC (“Alpha-5”), a privately-held preclinical-stage company developing a monoclonal antibody (mAbs) for the treatment of amyotrophic lateral sclerosis (“ALS”) and other neuroinflammatory disorders, such as Multiple Sclerosis (“MS”).

Alpha-5’s lead therapeutic candidate has a novel mechanism of action with the potential to improve clinical outcomes in patients with ALS, and is supported by post-mortem studies and with reproducible significant improvement in behavior and survival in the SOD1 mice model. The acquisition includes Alpha-5 proprietary antibodies with novel intellectual property and brings to Pasithea a group of seasoned scientists and a state-of-the-art laboratory.

The Company acquired all of the outstanding equity interests in Alpha-5 at an enterprise value for $3.75 million, payable in 3.26 million shares of Pasithea common stock, valued at $1.15 per share, an 11% premium to the closing price on June 21, plus 1 million warrants. An entity controlled by Paul B. Manning, Chairman and CEO of PBM Capital, a healthcare-focused investment firm, is Alpha-5’s majority owner and, following the transaction, will own approximately 10% of Pasithea common stock. Cassel Salpeter & Co. acted as financial advisor to the Company on this transaction.

“This agreement with Pasithea represents the culmination of years of work by Alpha-5 researchers, successfully leveraging their deep scientific expertise in the integrin space. We believe Pasithea will be well-positioned to apply its capabilities to move this asset forward and make an impact on ALS disease for the benefit of patients,” said Paul B. Manning.

“Treatments for ALS are extremely limited. Only two drugs are currently approved, with minimal impact on disease, and the majority of patients progress to death within a few years of symptom onset. The Alpha-5 acquisition is transformative for Pasithea, by adding a new drug with a novel mechanism of action to our pipeline, while preserving our strong cash position. In addition to the Alpha-5 development program, we will also acquire a wet lab and scientific team to develop our existing tolerizing vaccine and complementary program. Our plan is to file an Alpha-5 investigational new drug application (IND) with an orphan drug designation by the end of 2023,” stated Dr. Tiago Reis Marques, CEO of Pasithea.

Stanford Professor Larry Steinman, Chairman of the Board and co-founder of Pasithea and a minority owner of Alpha-5 said, “My work has been instrumental for the discovery of natalizumab, an anti-alpha 4 integrin mAb. This was the first drug developed in the class of selective adhesion molecule inhibitors and a potent therapeutic for multiple sclerosis. We believe that alpha-5 integrin antibody can also be transformative in the treatment of other neurological disorders, such as ALS or MS. Post-mortem human studies and preclinical work conducted so far support this therapeutic target and we are excited to move it into clinical trials.” Professor Steinman recused himself from the vote to approve the transaction.

Transaction Details

At the closing of the transaction, the Company acquired all of Alpha-5’s issued and outstanding equity interests in exchange for 3,260,870 shares of Pasithea common stock plus warrants to acquire an additional 1,000,000 shares at an exercise price of $1.88 per share for a period of five years. The number of shares was calculated by dividing a $3.75 million enterprise value by $1.15 per share of Pasithea Common Stock, an 11% premium to the closing price on June 21. There are potential future earnouts based on net sales. There will be no post-closing adjustments for cash and working capital.

To further discuss the transaction, Pasithea´s management will host a webcast as follows:
   
Date: June 22, 2022
Time: 9 a.m. ET
URL: https://event.choruscall.com/mediaframe/webcast.html?webcastid=aph1RpCR
   
The webcast will be accessible on the Investors section of the website, www.ir.pasithea.com, and will be archived for 90 days following the event.

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 Amyotrophic Lateral Sclerosis

ALS is a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord, causing loss of muscle control. It most commonly affects people between the ages of 40 and 70, with an average age of 55 at the time of diagnosis. It affects as many as 30,000 patients in the United States, with 5,000 new cases diagnosed each year. The average life expectancy after diagnosis is two to five years, but some patients may live for years or even decades. While 5-10% of cases are hereditary (familial ALS), the large majority of cases (90-95%) are not hereditary (Sporadic ALS). The cause of ALS is not completely understood and multiple complex factors may contribute to the death of motor neurons. Currently there is no known cure or treatment that halts or reverses the progression of ALS, and FDA only approved 2 medications so far for the treatment of this disorder, both shown to modestly slow the progression of ALS.

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
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released June 22, 2022

Posted on

Pasithea Therapeutics Announces Financial and Business Results for the Fourth Quarter and Full Year 2021 and Business Update for 2022

Pasithea Therapeutics Announces Financial and Business Results for the Fourth Quarter and Full Year 2021 and Business Update for 2022

— Cash Balance of $52.9 million to fund operations well into 2024 —
— Initiation of a drug development program in schizophrenia —
— Initiation of a drug development program in multiple sclerosis —
— Launched ketamine clinics in the U.K. and U.S. and expanded treatment options —

MIAMI BEACH, Fla., March 30, 2022 (GLOBE NEWSWIRE) — 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, is pleased to provide a business update and summary of key accomplishments since its Initial Public Offering (“IPO”) in September 2021.

“Pasithea was founded to improve treatment options for those affected by psychiatric and neurological disorders. From the start, our primary focus has been the creation of an innovative drug development pipeline, with a complementary goal of establishing a network of specialty clinics to provide mental health treatments to patients in the U.K. and U.S. I’m pleased to report that in the six months since our IPO, we’ve achieved our milestones. This is expected to be a transformational year for Pasithea and I look forward to continued growth and executing on our business strategy in 2022 and beyond,” said Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

Key Financial and Business Highlights:

  • Well capitalized with year-end 2021 cash position of $52.9 million. With our current budget the Company expects current cash to fund operations well into 2024;
  • Initiated a new chemical entity (“NCE”) program in schizophrenia in partnership with Evotec, one of the largest and most well-respected drug discovery and development companies;
  • Initiated the development of a tolerizing vaccine for multiple sclerosis (“MS”), with preclinical work currently being conducted at Hooke Labs, Massachusetts;
  • Established a Scientific Advisory Board with renowned thought leaders, including esteemed psychiatrist Dr. Charles B. Nemeroff and preeminent scientist Dr. Daniel Weinberger;
  • Opened two clinics in the U.K. offering both intravenous ketamine treatment as well as esketamine nasal spray (SPRAVATO®), started to generate revenues;
  • Established operations for an at-home ketamine treatment model in several US states including California, New York, Florida, and Nevada, and currently in the early stages of launching marketing and client acquisition strategies to increase adoption.

Anticipated 2022 Milestones and Priorities:

  • Evaluate potential central nervous system (“CNS”) therapeutic candidate programs to expand pipeline in 2022;
  • Complete initial preclinical work on the tolerizing vaccine for MS in Q2 2022;
  • Open first physical clinic in the Los Angeles area in Q2 2022, broadening business beyond ketamine treatments to include repeated transcranial magnetic stimulation (“rTMS”);
  • Open two additional physical clinics in London, broadening business beyond ketamine treatments to include rTMS and pharmacy service;
  • Launch of ketamine clinic affiliate program. Expand services and start operations in other major US states.

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.

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
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released March 30, 2022

Posted on

Pasithea Therapeutics Announces Collaboration with The Glimpse Group

Pasithea Therapeutics Announces Collaboration with The Glimpse Group

– The Glimpse Group is a Virtual Reality and Augmented Reality platform company

– Partnership will allow Pasithea to co-develop VR environments for patients with psychiatric disorders

MIAMI BEACH, Fla., March 08, 2022 (GLOBE NEWSWIRE) — 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 its partnership with The Glimpse Group, Inc. (Nasdaq:VRAR, FSE:9DR) (“Glimpse”), a Virtual Reality and Augmented Reality (“VR and AR”) platform company and its subsidiary company Foretell Reality. Foretell Reality applies VR technology to various use cases of mental health therapy, support, and human interaction.

“We are thrilled to partner with Glimpse to bring VR and AR to patients suffering from mental health disorders. Among its many benefits, VR unites a patient and therapist in a shared environment, which is particularly important in situations where the therapist is remote, such as with our at-home treatment model. VR can also create scenarios to reflect specific traumatic experiences or simulate emotionally loaded conversations. VR is increasingly becoming an innovative clinical tool for patients with specific psychiatric symptoms, which leads to improved patient outcomes, and we look forward to co-developing the program alongside Glimpse,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.

Together with Glimpse, Pasithea will co-develop VR environments to support the treatment of patients with psychiatric disorders in a safe and effective manner.

Lyron Bentovim, President and CEO of Glimpse commented, “VR technology is becoming widely adopted in the healthcare industry, with a range of applications including mental health and psychological therapies, pain management, and robotic surgery. Glimpse, through its base of subsidiary companies, has direct experience in developing such solutions with leading companies, hospitals, and universities in the segment. We look forward to our collaboration with Pasithea.”

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 The Glimpse Group, Inc.

The Glimpse Group (Nasdaq: VRAR, FSE:9DR) is a Virtual and Augmented Reality platform company, comprised of multiple VR and AR software & services companies, and designed with the specific purpose of cultivating entrepreneurs in the VR/AR industry. Glimpse’s unique business model simplifies challenges faced by VR/AR entrepreneurs and creates a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into the emerging VR/AR industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com.

Foretell Reality, a fully owned Glimpse Group subsidiary, leverages the unique capabilities of VR technology to enhance human interaction and applies it to various uses cases of mental health therapy, support, and soft skills training. For more information on Foretell Reality, please visit www.foretellreality.com.

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
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

The Glimpse Group Contact:

Maydan Rothblum
CFO & COO
The Glimpse Group, Inc.
917-292-2685
maydan@theglimpsegroup.com

Posted on

Pasithea Therapeutics Announces Plans to Open Three New Clinics in the UK by Mid-2022

Pasithea Therapeutics Announces Plans to Open Three New Clinics in the UK by Mid-2022

— Each clinic expected to contribute an estimated USD$5 million (£4 million) annually in revenue —

— New London locations will provide pharmacy services, ketamine therapy, and other psychiatric treatments, including repeated transcranial magnetic stimulation (“rTMS”) —

MIAMI BEACH, Fla., Feb. 24, 2022 (GLOBE NEWSWIRE) — 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 expanded its treatment offerings and is planning to open three new clinics in London to treat patients suffering from mental health issues. The Company already has locations in Marylebone and Knightsbridge.

“With these new clinics, we will broaden our London footprint and start offering pharmacy services and new treatment options, bringing important and novel mental health therapies to an ever-growing number of people. In addition to pharmacy services, our London clinics will offer other psychiatric treatment therapies, including repeated transcranial magnetic stimulation and ketamine and esketamine treatment,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics. “With our strong cash position and our continued expansion in London, we believe we are well positioned to bring value to our shareholders,” concluded Dr. Marques.

“We are excited to expand our partnership with ZEN Healthcare, which has been providing pioneering IV therapies in London for six years. By offering more locations, and a greater number of treatment options, we continue to work toward closing the treatment gap and getting millions of people the help they need,” said Dr. Yassine Bendiabdallah, Managing Director of Pasithea Clinics in the UK.

The clinics, which will be operated by Pasithea, with management support from ZEN Healthcare, are expected to open by mid-2022. Each clinic will contribute an estimated USD$5 million annually in revenue.

Repeated transcranial magnetic stimulation (“rTMS”) 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 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.

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 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 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
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

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Pasithea Therapeutics Strengthens its Scientific Advisory Board with the Appointment of Preeminent Scientist Dr. Daniel Weinberger

Pasithea Therapeutics Strengthens its Scientific Advisory Board with the Appointment of Preeminent Scientist Dr. Daniel Weinberger

Newest member is a renowned thought leader in the identification of neurobiological mechanisms of mental illness

MIAMI BEACH, Fla., Feb. 09, 2022 (GLOBE NEWSWIRE) — 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 the appointment of Dr. Daniel Weinberger to its Scientific Advisory Board (“SAB”).

Dr. Weinberger is the Director and CEO of the Lieber Institute for Brain Development at the Johns Hopkins Medical Center and Professor of Psychiatry, Neurology, Neuroscience and Human Genetics at the Johns Hopkins School of Medicine. He was formerly Director of the Genes, Cognition, and Psychosis Program of the Intramural Research Program, National Institute of Mental Health, National Institutes of Health in Bethesda, Maryland. Dr. Weinberger attended college at the Johns Hopkins University and medical school at the University of Pennsylvania and did residencies in psychiatry at Harvard Medical School and in neurology at George Washington University. He is board certified in both psychiatry and neurology.

“We are proud to welcome Dr. Daniel Weinberger to our Scientific Advisory Board,” said Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics. “For a generation, Dr. Weinberger has been at the forefront of the scientific research in neuropsychiatric disorders. His landmark research in the biological origins and genetic expressions of schizophrenia has helped transform the public’s understanding of mental illness. Dr. Weinberger’s expertise and insight will be critical to Pasithea as we advance our mission of developing drugs that target the pathophysiology underlying psychiatric and neurological disorders.”

“There is no treatment used in psychiatry today that was discovered based on an understanding of the causative mechanisms of illness. Pasithea is committed to changing that, to finding new approaches based on fundamental genetic and molecular mechanisms of illness. This is music to my ears, and I am thrilled to be part of the advisory team that will help guide this pioneering effort to change the landscape of treatment for neuropsychiatric disorders,” stated Dr. Weinberger.

In 2003, Science magazine highlighted the genetic research of Dr. Weinberger’s lab as the second biggest scientific breakthrough of the year, behind the origin of the cosmos. His recent work has focused on genetic and epigenetic regulation of the expression in the human brain of genes associated with developmental brain disorders.

Dr. Weinberger has published over 800 papers in peer-reviewed journals, and is the recipient of many honors and awards, including the Sarnat International Prize of the National Academy of Medicine, The International Neuroscience Prize of the Gertrud Reemtsma Foundation of the Max Planck Society, the NIH Directors Award, The Roche-Nature Medicine Neuroscience Award, The William K. Warren Medical Research Institute Award, the Adolf Meyer Prize of the American Psychiatric Association, the Foundation’s Fund Prize from the American Psychiatric Association, and the Lieber Prize of the Brain and Behavior Research Foundation. He is past president of the Society of Biological Psychiatry and of the American College of Neuropsychopharmacology, and has been elected to the National Academy of Medicine of the National Academy of Sciences.

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.

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
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com 

Primary Logo

Source: Pasithea

Released February 9, 2022

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Pasithea Therapeutics Initiates New Chemical Entity Drug Development Program in Multiple Sclerosis

Pasithea Therapeutics Initiates New Chemical Entity Drug Development Program in Multiple Sclerosis

Company commences program to develop a tolerizing vaccine and names Hooke Laboratories as its research partner

MIAMI BEACH, Fla., Feb. 03, 2022 (GLOBE NEWSWIRE) — 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 Contact
Dr. Tiago Reis Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations
Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com

Primary Logo

Source: Pasithea

Released February 3, 2022

Posted on

Pasithea Therapeutics Announces Opening of Mental Health Clinic in Los Angeles and Broadens Focus Beyond Ketamine Treatments

Pasithea Therapeutics Announces Opening of Mental Health Clinic in Los Angeles and Broadens Focus Beyond Ketamine Treatments

In-person clinic will provide ketamine therapy and other novel mental health treatments, including repeated transcranial magnetic stimulation (“rTMS”)

MIAMI BEACH, Fla., Jan. 26, 2022 (GLOBE NEWSWIRE) — 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 Marques
Chief Executive Officer
E: tiago@pasithea.com

Pasithea Therapeutics Corp. Investor Relations

Lisa M. Wilson
In-Site Communications, Inc.
T: 212-452-2793
E: lwilson@insitecony.com 

Primary Logo

Source: Pasithea

Released January 26, 2022