BetterLife Showcases Non-hallucinogenic LSD Derivative BETR-001 and Mood Disorder Treatment Patent

BetterLife Pharma Inc., a biotechnology company based in Vancouver, British Columbia, has made a significant announcement. The company, trading under the symbols CSE: BETR, OTCQB: BETRF, and FRA: NPAU, focuses on developing 2-bromo-LSD (BETR-001), a non-hallucinogenic variant of lysergic acid diethylamide (LSD). Recently, the United States Patent and Trademarks Office published BetterLife's patent titled "Methods of treating mental or mood disorders using 2-bromo-LSD" (Publication No. US-2024-0058326-A1).

Dr. Ahmad Doroudian, the CEO of BetterLife, highlighted the advantages of BETR-001, particularly its non-hallucinogenic nature, which still retains strong activity in animal models related to depression and anxiety. He contrasted this with the recent rejection by the US FDA of the New Drug Application (NDA) for the hallucinogenic drug MDMA intended for PTSD treatment. The FDA's decision was influenced by an advisory committee's recommendation and pointed out the broader challenges faced by both first and second-generation psychedelics, such as the need for specialized clinics and the strict controlled substance classification.

Dr. Doroudian emphasized that BETR-001 does not share these hallucinogenic properties and, therefore, might offer therapeutic benefits similar to LSD without the associated burdens. One of BetterLife's key objectives is for patients to self-administer BETR-001 at home to treat various psychiatric and neurological disorders.

The company is in the process of completing the Investigational New Drug (IND) enabling studies for BETR-001 and plans to file the IND and initiate human clinical trials once these studies are finalized.

Additionally, BetterLife has issued nearly 5 million common shares and an equivalent number of share purchase warrants. These were issued as part of the conversion option of convertible debentures and accrued interest, totaling nearly $500,000. The share purchase warrants allow holders to acquire common shares at $0.10 per warrant and expire on either December 31, 2025, or September 27, 2026. Dr. Doroudian himself converted $225,000 worth of convertible debentures, receiving 2.25 million common shares and the same number of share purchase warrants.

BetterLife Pharma Inc. is emerging as a significant player in the biotechnology sector, focusing on the development and commercialization of two primary compounds, BETR-001 and BETR-002.

BETR-001 is a non-hallucinogenic derivative of LSD that is currently in preclinical and IND-enabling studies. This compound is unique given its unregulated status, making it suitable for self-administration. BetterLife's synthesis patent for BETR-001 removes regulatory obstacles, while the pending patent covers its composition and method of use for treating major depressive disorder, anxiety, neuropathic pain, and other neuro-psychiatric and neurological conditions.

BETR-002, also in preclinical and IND-enabling stages, is derived from honokiol, an active anxiolytic substance found in magnolia bark. The company's pending patent includes methods of use and formulations for treating anxiety-related disorders, including benzodiazepine dependency.

Additionally, BetterLife owns a drug candidate aimed at treating viral infections and is exploring strategic alternatives for its further development.

BetterLife Pharma continues to develop innovative treatments aimed at addressing significant mental health and neurological challenges, setting a pioneering path in the biotechnology field.