Palm Beach, FL –November 17, 2021 – FinancialNewsMedia.com News Commentary – The uses of Ketamine for a variety of therapies are growing. An expanding number of clinics are offering ketamine infusion therapy for the treatment of mental health disorders and there is also a rising number of local manufacturers and increasing R&D activities in anesthetics are anticipated to boost the market development. Factors like the rising prevalence of chronic diseases, the growing aging population, and rising utilization of anesthetics are projected to drive the market development. In addition, technological advancements support the development of the market. The geriatric population is at higher risk of getting affected with chronic diseases like diabetes, CVD, CRD and mental health disorders that leads to rising interest in medical procedures. Accordingly, the rising aging population is additionally anticipated to drive the development of the market. Rising number of minimally invasive surgical and diagnostic procedures that are carried out on an outpatient basis need a huge number of general anesthesia drugs. These general anesthesia drugs can possibly influence the cost of care as well as the efficacy in these outpatient settings. In this manner, the injectable ketamine market is expected to show significant growth. According to the latest research by Fact.MR, Injectable Ketamine market is set to witness a 9.8% growth during the year 2021-2031. The market is expected to witness growth owing to increasing number of surgeries, advanced technologies in drug delivery devices and rapid rise in aging population. Active Biotechs in the markets today include: Pasithea Therapeutics Corp. (NASDAQ: KTTA), atai Life Sciences (NASDAQ: ATAI), COMPASS Pathways plc (NASDAQ: CMPS), Field Trip Health Ltd. (NASDAQ: FTRP) (TSX: FTRP), Cybin Inc, (NYSE: CYBN).
A report from Fact.MR said that: The Injectable Ketamine market is highly competitive, with the presence of a few of major players available in global markets, and various small-scale players in regional markets. Key players are supporting widely in the research and development to manufacture advanced products. Moreover, key players are adopting strategies like launching new products, partnerships, and acquisitions and mergers to consolidate their position in the market. Globally, they are involved in long term contracts with healthcare companies and are involving into partnerships and strategic alliances with other players in various countries to extend their business. The US Injectable ketamine market is expected to observe a robust growth in the market owing it to the rise in number of surgeries and large number of manufacturers present in the market. Development of the market is high in the U.S., boosted by growing risk of cardiac diseases and organ failures among baby boomers together with essential restructuring of the of the healthcare system in U.S.”
Pasithea Therapeutics Corp. (NASDAQ: KTTA) Breaking News: Pasithea Clinics Launches In-Home Intravenous Ketamine Therapy in Major U.S. Cities, Expanding its International Footprint – Pasithea Clinics to offer ketamine infusion therapy for the treatment of mental health disorders – Pasithea erapeutics Corp. (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, commenced clinical operations, offering in-home intravenous (“IV”) ketamine therapy to patients suffering from treatment-resistant mental health issues. Initially, the treatment will be offered in New York City, Los Angeles, San Diego, and San Francisco and will expand nationwide in the coming months.
“The need for more effective treatment options for patients with mental health disorders has never been greater. Ketamine, when used at sub-anesthetic doses, has been shown to be highly effective in treating some psychiatric disorders. Still, we need to broaden access to this treatment to a larger patient population in a safe and convenient way. Through our mobile clinics, patients benefit from receiving the ketamine therapy in the privacy and comfort of their own homes. With patient safety as our top priority, all ketamine treatments will be delivered by board-certified medical professionals. This launch is an important stepping stone in expanding our international footprint in this space,” stated Dr. Tiago Reis Marques, CEO of Pasithea Therapeutics.
Patients with mental health disorders often struggle to complete day-to-day activities, and even small tasks can take extra effort. In disorders such as depression and post-traumatic stress disorder, symptoms such as fatigue, social isolation, lack of motivation, and high levels of anxiety are frequent. The effort to go to a physical clinic can be overwhelming. By providing this treatment at the patient’s home, Pasithea aims to broaden access to this important therapy.
“We are pleased to commence our U.S. rollout in major cities in New York and California, with plans to scale our business in other cities over the coming months. Although ketamine is a very safe drug to administer, there are still some risks. Patient safety is of paramount importance, and we are providing a network of highly trained medical professionals to administer this treatment in the comfort of the patient´s home. Our medical team ensures that our patients receive state of the art support throughout their treatment experience. We believe we can become the best-in-class and largest provider of IV ketamine treatments in the United States. We will use our at-home model to expand our reach in the U.S. in a fast and accessible way,” said Dr. Adam Nadelson, Managing Director of Pasithea Clinics in the United States.
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 now 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, and up to 70% of those who receive this treatment can eventually show a clinical response. 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. CONTINUED… Read the Pasithea Therapeutics full press release by going to: https://ir.pasithea.com/
In other biotech news in the markets this week:
COMPASS Pathways plc (NASDAQ: CMPS), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, recently announced it will be conducting a phase II clinical trial to assess the safety and tolerability of COMP360 psilocybin therapy in post-traumatic stress disorder (PTSD). The study expands COMPASS’s research pipeline in psilocybin therapy with COMP360, the company’s proprietary formulation of synthetic psilocybin which COMPASS is currently developing for treatment-resistant depression.
The phase II, multicentre, fixed-dose open label COMP201 study will enrol 20 participants to evaluate the safety and tolerability of COMP360 psilocybin therapy in people who suffer with PTSD resulting from trauma experienced as adults. The study will begin at The Institute of Psychiatry, Psychology & Neuroscience (IoPPN) at King’s College London. Participants will receive a single 25mg dose of COMP360 psilocybin, given in conjunction with specialist psychological support, in line with the COMP360 psilocybin therapy protocol, and will be followed up for 12 weeks. The primary endpoint of the study is to assess the safety of COMP360 psilocybin therapy. Secondary endpoints will measure efficacy in improving PTSD symptoms, functionality, and quality of life.
Field Trip Health Ltd. (NASDAQ: FTRP) (TSX: FTRP), a global leader in the development and delivery of psychedelic therapies, recently announced the opening of their Seattle clinic, their sixth in the United States, along with the recent opening of a location in Fredericton, NB, and the imminent opening of a location in Vancouver, BC. As the largest provider of psychedelic-assisted therapies globally, Field Trip continues to distinguish itself as a leader in the emerging psychedelic industry with continued expansion and growing demand.
Mental health continues to be a national health crisis as rates of anxiety, depression and PTSD keep climbing. Since opening its first location in March 2020, Field Trip’s ketamine-assisted therapy (KAP) protocols have generated rapid and meaningful improvements for many Field Trip clients as measured by depression and anxiety scales. Based on the data collected to date, Field Trip clients have reported that their depression symptoms improved significantly from “severe” to “mild” on average (with the Mean PHQ9 score of respondents decreasing from 17 to 6), and among respondents such benefits were sustained for 120 days or longer from commencement of treatment. These results suggest that the benefits of Field Trip’s KAP program may compare favorably to ketamine infusions. Each Field Trip Health center is designed to provide an oasis-like setting with elements of nature to give Field Trip clients a space for healing, growth and transformation through psychedelic therapies. The entire experience is supported by Field Trip’s digital technology and tools that guide people through the process from before treatment is approved until after their treatment program is complete, and beyond.
Cybin Inc, (NYSE American: CYBN), a biopharmaceutical company focused on progressing “Psychedelics to TherapeuticsTM“, recently announced positive CYB003 pre-clinical findings that demonstrate multiple advantages for its newly developed novel deuterated psilocybin analog over oral psilocybin for the treatment of mental health.
“Multiple academic studies have shown that psilocybin may have the potential to revolutionize mental healthcare, but few companies have addressed the well-known limitations and side effects of oral psilocybin. Cybin has always strived to develop safer and more effective therapies for patients, which has guided our multiple psilocybin programs: CYB001, CYB002, and CYB003,” said Doug Drysdale, Cybin’s Chief Executive Officer.
atai Life Sciences (NASDAQ: ATAI) recently announced that it has observed encouraging interim data from the first 8-patient cohort of its Phase 2a trial, demonstrating potential pro-cognitive effects of its compound RL-007, a cholinergic, glutamatergic, and GABA type B receptor modulator, for Cognitive Impairment Associated with Schizophrenia (CIAS).
These early data have led atai to commit additional financial resources, enabling an accelerated clinical development timeline for RL-007, even ahead of completion of the ongoing Phase 2a trial.
The interim Phase 2a readout reported promising assessments for the 8-patient cohort from two quantitative biomarkers, qEEG (quantitative electroencephalogram) and ERP (evoked-response potential) and indicated changes that are consistent with improved cognition. CIAS is a major unmet need for those living with schizophrenia, with no effective treatments currently available. Full results of the current Phase 2a trial are expected by the end of 2021.
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