Pasithea
Therapeutics Corp. and Evotec SE Enter into Drug Development
Agreement
-- Company contracts
leading global drug development company to advance initial drug
candidate --
Miami Beach, FL / October 11, 2021 --
InvestorsHub 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 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 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