Pasithea Therapeutics Corp. and Evotec SE Enter into Drug Development Agreement
October 11 2021 - 6:50AM
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 the initiation of a new
chemical entity (“NCE”) development program and
named Evotec as its NCE research partner.
“We are delighted to be working with Evotec, one of the largest
and most well-respected drug discovery and development companies in
the world, to progress our first compound. This is a significant
step on our drug development path to ultimately develop new
molecular entities to improve the lives of those suffering with
brain disorders. Pasithea aims to advance small molecule
therapeutics with a focus on a specific neuroinflammatory pathway
implicated in the neurobiology of depression and schizophrenia,”
stated Dr. Tiago Reis Marques, Chief Executive Officer of Pasithea
Therapeutics.
“Evotec has a proven track record of adding value to its
partners’ research by providing innovative and flexible solutions
from target compound through to preclinical candidate. This is an
important initial step forward for our program, and we believe that
Evotec’s high-quality science and scientific execution will
expedite and increase the chances of progressing our drug candidate
to the clinic,” stated Prof. Lawrence Steinman, Chairman of
Pasithea Therapeutics.
“Pasithea is pursuing an exciting approach to target the
improvement of mental health,” stated Christophe Muller, PhD,
Global Head of Business Development, Evotec SE. “With our fully
integrated suite of the highest quality capabilities, Evotec is
uniquely equipped to facilitate the discovery and development of
innovative programmes to the clinic and beyond. We are delighted to
support Pasithea in addressing the very important area of mental
health and look forward to working closely with the team to assist
them in reaching their goal of tackling brain disorders.”
About Pasithea Therapeutics Corp.
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, with the goal of developing new
pharmacological agents that display significant advantages over
conventional therapies with respect to efficacy and
tolerability.
The Company’s secondary operations focus on establishing
psychiatric clinics in the United Kingdom and in the United States.
The Company’s clinic operations will involve providing business
support services to healthcare providers who will administer
intravenous infusions of ketamine for the treatment of psychiatric
conditions, such as treatment-resistant depression and PTSD.
About Evotec SE
Evotec is a life science company with a unique business model
that delivers on its mission to discover and develop highly
effective therapeutics and make them available to the patients. The
Company’s multimodality platform comprises a unique combination of
innovative technologies, data and science for the discovery,
development, and production of first-in-class and best-in-class
pharmaceutical products. Evotec leverages this “Data-driven R&D
Autobahn to Cures” for proprietary projects and within a network of
partners including all Top 20 Pharma and over 800 biotechnology
companies, academic institutions, as well as other healthcare
stakeholders. Evotec has strategic activities in a broad range of
currently underserved therapeutic areas, including e.g. neurology,
oncology, as well as metabolic and infectious diseases. Within
these areas of expertise, Evotec aims to create the world-leading
co-owned pipeline for innovative therapeutics and has to-date
established a portfolio of more than 200 proprietary and co-owned
R&D projects from early discovery to clinical development.
Evotec operates globally with more than 3,900 highly qualified
people. The Company’s 14 sites offer highly synergistic
technologies and services and operate as complementary clusters of
excellence. For additional information please go to www.evotec.com
and follow us on Twitter @Evotec and LinkedIn.
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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