MIAMI BEACH, Fla. (PRWEB) November 15, 2021
The founders of Pasithea Therapeutics, a new biotech company built to develop new treatments for mental health issues, recently spoke on entrepreneurship in science. The company was founded by Stanford University’s Professor Lawrence Steinman, now Executive Director, and Dr. Tiago Reis Marques, current CEO formerly of King’s College of London. Pasithea operates in-clinic in the UK, where research helmed by Marques is constantly being conducted to develop new treatments.
“In building a new company we wanted to do research and drug development, but also knew that an on-the-ground infrastructure was critical to both our work and our business,” said Steinman. “We’re thrilled to be working with I.V. Doc® in the US and Zen Healthcare in the UK to help our company earn profitability quicker than it would have otherwise.”
As the world continues to be shaken by the COVID-19 pandemic and the number of people suffering from mental health issues rises worldwide, Pasithea aims to provide relief to those in need. The biotech company reports that the size of the depression and anxiety treatment markets is expected to rise to $19.2 billion in 2027, and that mental disorders will lead to a $16 trillion loss to the global economy between 2010 and 2030.
Marques added, “I am happy to be working with partners to gain on-the-ground experience in treating mental health, as it will offer invaluable insight into my research. I truly think this strategy is best not just for our profitability, but will ultimately allow me and my team to produce the best research possible.”
On September 15th, the company became tradable on the Nasdaq Capital Market under the symbol “KTTA”, with warrants available as “KTTAW.” 4,800,000 units of this stock were made available at $5.00 each, after the company raised approximately $24.0 million on the public market.
About Pasithea Therapeutics:
Pasithea Therapeutics Corp. is a biotechnology company focused on the research and discovery of new and effective treatments for psychiatric and neurological disorders. Its biotech operations will focus on developing drugs that target the pathophysiology underlying such disorders rather than symptomatic treatments, with the goal of developing new pharmacological agents that display significant advantages over conventional therapies with respect to efficacy and tolerability.
The company will also be working by providing on-the-ground treatments to help better understand and meet the needs of patients. Through clinics in the United Kingdom and at-home services in the United States, Pasithea will gain deeper knowledge on the effects of Ketamine IVs to treat depression. This innovative new practice is still currently being researched within the medical field, but has shown great promise in preliminary studies.