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VANCOUVER, British Columbia, Jan. 02, 2024 (GLOBE NEWSWIRE) -- BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU), an emerging biotech company focused on the development and commercialization of cutting-edge treatments for mental disorders, is pleased to announce the closing of $300,000 convertible debentures to further advance the development its lead compound, BETR-001. BETR-001 is BetterLife’s proprietary 2-bromo-LSD, a non-hallucinogenic derivative of lysergic acid diethylamide (LSD). Ahmad Doroudian, the CEO of BetterLife said, “We will use these funds to complete additional BETR-001 IND-enabling studies required by the FDA as well as releasing of GMP drug substance that can be used in future clinical trials. Completion of each study gets BetterLife closer to submission of the IND and start of human clinical trials. Our 2023 published and un-published preclinical efficacy studies all support that BETR-001 will be active in treating psychiatric disorders like other 5HT-2A receptor agonist psychedelics with excellent safety profile. The de-risked profile of BETR-001 is further supported by the fact that 2-bromo-LSD has been in human studies in the 1950s, and its non-hallucinogenic nature, and safety and tolerability in humans confirmed.” He further added, “What makes BETR-001 unique is that it is not only de-risked, but it also has robust intellectual proprietary protection. We are excited to be able to bring this novel new treatment to patients with various psychiatric and neurological disorders in the near future.” BetterLife issued a total of $300,000 10% convertible debentures (the “Convertible Debentures”) which mature on June 30, 2025. The Convertible Debentures are convertible at the option of the holder into units of the Company, consisting of one common share and one share purchase warrant, at a conversion price of $0.10 per unit. Each share purchase warrant will have an exercise price of $0.10 and will expire on December 31, 2025. Dr. Ahmad Doroudian, Chief Executive Officer of the Company, subscribed for a total of $125,000 Convertible Debentures. The participation of Dr. Doroudian in the private placement constituted a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101“). The issuance to the insider was exempt from the formal valuation requirements of MI 61-101 by virtue of the exemption contained in section 5.5(b) as none of the securities of the Company are listed on a specified stock exchange. The transaction is exempt from the minority shareholder approval requirements of MI 61-101 by virtue of exemption contained in section 5.7(a) of MI 61-101. At the time the transaction was agreed to, neither the fair market value of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeded 25% of the Company’s market capitalization. The Company did not file a material change report at least 21 days prior to the expected closing of the Convertible Debentures as Dr. Doroudian’s participation was not determined at that time. About BetterLife Pharma BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders. BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic and non-controlled LSD derivative in development and it is unique in that it is unregulated and therefore can be self-administered. BetterLife’s synthesis patent for BETR-001 eliminates regulatory hurdles and its pending patent, for composition and method of use, covers treatment of major depressive disorder, anxiety disorder and neuropathic pain and other neuro-psychiatric and neurological disorders. BETR-002, which is in preclinical and IND-enabling studies, is based on honokiol, the active anxiolytic ingredient of magnolia bark. BetterLife’s pending method of use and formulations patent covers treatment of anxiety related disorders including benzodiazepine dependency. BetterLife also owns a drug candidate for the treatment of viral infections such as COVID-19 and is in the process of seeking strategic alternatives for further development. For further information, please visit BetterLife Pharma. BetterLife Pharma Inc. Contact Information David Melles, Investor Relations ManagerEmail: David.Melles@blifepharma.comPhone: 1-778-887-1928 Cautionary Note Regarding Forward-Looking Statements No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

Centhaquine (Lyfaquin®) is an adrenergic agent that increases cardiac preload by activating alpha2B adrenergic receptors to increase venous blood return to the heart and decreases cardiac afterload by activating alpha2A adrenergic receptors to decrease sympathetic drive and dilatation of arteries Pharmazz Team to Attend the International Symposium on Intensive Care and Emergency Care, March 21 to 24, 2023 Brussels, Belgium WILLOWBROOK, Ill., March 20, 2023 (GLOBE NEWSWIRE) --Pharmazz, Inc. (“Pharmazz”), a biopharmaceutical company focused on developing and commercializing novel therapeutics to treat patients in critical care, announced two key publications. These publications further our understanding of adrenergic receptors in treating shock. A free version of the article published in the Journal of Clinical Medicine is available at: . Controls of central and peripheral blood pressure are critical in treating patients with hemorrhagic/hypovolemic shock. It has been demonstrated that alpha2-adrenergic receptors could be a suitable target for managing hypovolemic shock. Centhaquine is the Company’s alpha2 adrenergic receptor agonist that showed an absolute 8.8 percent reduction in 28-day all-cause mortality in Phase III clinical trial for hypovolemic shock conducted in India. Another article published in Frontiers in Physiology, titled Role of adrenergic receptors in shock,” highlights that centhaquine (Lyfaquin®) increases cardiac preload by activating alpha2B adrenergic receptors to increase venous blood return to the heart and decreases cardiac afterload by activating alpha2A adrenergic receptors to decrease sympathetic drive and dilatation of arteries. This article can be downloaded at: . A team of three persons will attend key sessions dealing with venous return and improving vasopressor use at the International Symposium on Intensive Care and Emergency Care, March 21 to 24, 2023, in Brussels, Belgium. In addition, the lecture titled “New vasopressors, New evidence” will likely shed more light on the involvement of various receptors in treating shock. Pharmazz has received U.S. Food and Drug Administration (FDA) clearance to conduct a Phase III clinical trial of centhaquine (Lyfaquin®) in hypovolemic shock patients. The Phase III trial is a randomized, double-blind, placebo-controlled study to assess the safety and efficacy of centhaquine in 430 patients with hypovolemic shock. Patients will be randomized 1:1 to receive either a 100 ml intravenous infusion of 0.01 mg/Kg of centhaquine or a placebo plus standard of care. The primary endpoint is 28-day all-cause mortality. More details on the clinical trial design, including the complete list of secondary endpoints, can be found on clinicaltrials.gov (NCT05251181). “U.S. FDA clearance of our Phase III trial is a very important milestone for Pharmazz and for the potential future treatment of hypovolemic shock patients,” said Anil Gulati, M.D., founder, Chief Executive Officer, and Chairman of the Board of Pharmazz. “We have already reported on our successful Phase III trial in hypovolemic shock patients that we conducted in India. That trial demonstrated a statistically significantly greater number of patients showing an improvement in blood pressure, lactate levels, base-deficit and an absolute reduction of 8.8 percent in all-cause mortality. That trial gives us some comfort that the U.S. trial will generate a similar result.” About Pharmazz, Inc. Pharmazz, Inc. is a privately held company engaged in developing novel products in critical care medicine. Additional information may be found on the Company’s website, . Company Contact: Shruti Gulati Pharmazz Inc. Email: shruti.gulati@pharmazz.com Phone: (630) 780-6087

New substances that activate adrenalin receptors instead of opioid receptors have a similar pain relieving effect to opiates, but without the negative aspects such as respiratory depression and addiction. New findings are a milestone in the development of non-opioid pain relief. New substances that activate adrenalin receptors instead of opioid receptors have a similar pain relieving effect to opiates, but without the negative aspects such as respiratory depression and addiction. This is the result of research carried out by an international team of researchers led by the Chair of Pharmaceutical Chemistry at Friedrich-Alexander-Universität Erlangen-Nürnberg (FAU). Their findings, which have now been published in the  scientific journal Science, are a milestone in the development of non-opioid pain relief. Opiates cause addiction, new substances do not They are a blessing for patients suffering from severe pain, but they also have serious side effects: Opioids, and above all morphine, can cause nausea, dizziness and constipation and can also often cause slowed breathing that can even result in respiratory failure. In addition, opiates are addictive -- a high percentage of the drug problem in the USA is caused by pain medication, for example. In order to tackle the unwanted medical and social effects of opioids, researchers all over the world are searching for alternative analgesics. Prof. Dr. Peter Gmeiner, Chair of Pharmaceutical Chemistry is one of these researchers. "We are focusing particularly on the molecular structures of the receptors that dock onto the pharmaceutical substances," says Gmeiner. "It is only when we understand these on the atomic level that we can develop effective and safe active substances." Collaborating with an international team of researchers, Prof. Gmeiner discovered an active substance in 2016 that bonds to known opioid receptors and that offers the same level of pain relief as morphine, even though it has no chemical similarity to opiates. New approach: Adrenaline receptors instead of opioid receptors Peter Gmeiner is currently following a lead that seems very promising: "Many non-opioid receptors are involved in pain processing, but only a small number of these alternatives have as yet been validated for use in therapies," he explains. Gmeiner and a team of researchers from Erlangen, China, Canada and the USA have now turned their attention to a new receptor that is responsible for binding adrenaline -- the alpha 2A adrenergic receptor. There are already some analgesics that target this receptor such as brimonidine, clonidine and dexmedetomidine. Gmeiner: "Dexmedetomidine relieves pain, but has a strong sedative effect, which means its use is restricted to intensive care in hospital settings and is not suitable for broader patient groups." The aim of the research consortium is to find a chemical compound that activates the receptor in the central nervous system without a sedative effect. In a virtual library of more than 300 million different and easily accessible molecules, the researchers looked for compounds that physically match the receptor but are not chemically related to known medication. After a series of complex virtual docking simulations, around 50 molecules were selected for synthesis and testing and two of these fulfilled the desired criteria. They had good bonding characteristics, activated only certain protein sub-types and thus a very selective set of cellular signal pathways, whereas dexmedetomidine responds to a significantly wider range of proteins. Pain relief without sedation in animal models By further optimizing the identified molecules, for which extremely high-resolution cryo-electron microscopic imaging was used, the researchers were able to synthesize agonists that produced high concentrations in the brain and reduced the sensation of pain effectively in investigations with animal models. "Various tests confirmed that docking on the receptor was responsible for the analgesic effect," explains Gmeiner. "We are particularly pleased about the fact that none of the new compounds caused sedation, even at considerably higher doses than those that would be required for pain relief." The successful separation of analgesic properties and sedation is a milestone in the development of non-opioid pain medication, especially as the newly-identified agonists are comparatively easy to manufacture and administer orally to patients. However, Prof. Gmeiner has to dampen any hopes of rapid widespread use in human medicine: "We are currently still talking about basic research. The development of medication is subject to strict controls and in addition to significant amounts of funding, it takes a long time. However, these results still make us very optimistic."