- BetterLife (BETR) provides H1 2021 progress update
- BetterLife believes TD-0148A can mimic the projected therapeutic potential of LSD without causing its undesirable psychoactive dissociative side effects
- Neither the product nor process is restricted by controlled substance regulations because LSD or other Schedule 1 drugs are not used
- The second compound BetterLife is developing to treat neurological conditions is TD-010, which is projected to be developed initially for the treatment of benzodiazepine dependency
- At a later stage, BetterLife will develop TD-010 for other anxiety and neurological related disorders
- BetterLife Pharma Inc. (BETR) is down 2 per cent and is trading at $C0.24 at1:06 pm ET
BetterLife Pharma Inc. (BETR) announces significant progress in H1 2021.
BetterLife’s TD-0148A is a second-generation lysergic acid diethylamide derivative molecule that has been synthesized using its own patented manufacturing process.
BetterLife believes TD-0148A can mimic the projected therapeutic potential of LSD without causing its undesirable psychoactive dissociative side effects, such as hallucinations.
TD-0148A is projected to be developed for the treatment of major depressive disorders, a market that is forecast to reach near US$25 billion by 2030, as well as cluster headaches and other neurological disorders.
To date, BetterLife has issued patents on a synthesis of TD-0148A for its entirely unique manufacturing process. Neither the product nor process is restricted by controlled substance regulations because LSD or other Schedule 1 drugs are not used.
Unlike first-generation psychedelics, which have side effects, TD-0148A can be self-administered, leading to both time and cost savings as it does not have to be ingested at a clinic or in the presence of at least one therapist nor does the patient require going through a four-step treatment model.
Looking forward, BetterLife expects its GMP manufactured material for clinical trials to be completed in H2 2021 with IND filing and conduct of human trials projected for H1 2022.
Dr. Ahmad Doroudian, BetterLife’s Chief Executive Officer, said, “Following our acquisition of the assets of Transcend Biodynamics in December of 2020, we are pleased to be moving rapidly ahead with our second-generation psychedelics programs that can potentially deliver a better life to many by alleviating them from debilitating neurological conditions.”
“TD-0148A, however, has the potential to overcome all of these obstacles due to its non-hallucinogenic and non-regulated nature. It can be self-administered, which is much less burdensome on health and point of care systems and therefore more likely to be covered by insurers,” added Dr. Doroudian.
The second compound BetterLife is developing to treat neurological conditions is TD-010, which is projected to be developed initially for the treatment of benzodiazepine dependency.
At a later stage, BetterLife will develop TD-010 for other anxiety and neurological related disorders.
In May and June 2021, BetterLife completed financings totalling CDN$9,161,953 and issued 22,837,500 units and 478,750 share purchase warrants.
Each unit consists of one common share of the company and one Warrant. Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.50 expiring on May 28, 2024.
BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, TD-0148A and TD-010, to treat neurological disorders such as depression, cluster headaches and anxiety. TD-0148A (non-hallucinogenic LSD) is being developed for the treatment of a major depressive disorder.
BetterLife Pharma Inc. (BETR) is down 2 per cent and is trading at $C0.24 at1:06 pm ET.
