Pasithea To Open 3 New Clinics In The U.K. For Patients with Mental Health Issues, Each Clinic Expected To Add ~$5 Million In Annual Revenue

Image by Christina on Unsplash

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.

Pasithea Therapeutics Corp. KTTA announced that its wholly-owned subsidiary, Pasithea Clinics, has expanded its treatment offer 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 in addition to intravenous (“IV”) ketamine” 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 [partner/expand our partnership] with ZEN Healthcare, who 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 U.K.

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.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.