BetterLife Engages Canadian Healthcare Investment Firm, Aims For Clinical Trial Programs

BetterLife Pharma BETRF, a non-hallucinogenic psychedelics biotech company, has contracted Bloom Burton Securities Inc. for strategic advisory services.

“Canada’s leading healthcare investment banking firm” holds “extensive understanding” of the overall biotechnology and healthcare landscape and the emerging psychedelics space in particular, CEO Ahmad Doroudian said of Bloom Burton.

The Vancouver-based company expects the agreement to help advance its clinical trial initiatives.

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Throughout 2022, BetterLife achieved several goals. One of them was manufacturing a kg-sized batch of its proprietary 2-bromo-LSD synthetic compound BETR-001, plus having initiated Good Manufacturing Practices (GMP)-compliant manufacturing.

The raw material, as well as the synthetic production pathway, do not involve controlled substances. Therefore, they are not bound to regulations and would allow for self-administration.

Both the synthetic route and the end product are novel developments for which the company has provisional patents.

2022’s preclinical trials progress included an in-vitro and in-vivo characterization of BETR-001; more specifically, the in-vitro pharmacological profiling considering key neuroreceptors in comparison to parent compound LSD, as well as in-vivo studies showing the non-hallucinogenic profile and effective structural neuroplasticity and anti-depressant profile.

The research provided insight on BETR-001’s activity and the pharmacological differences with LSD which could translate into therapeutic benefits and, based on these positive findings, BetterLife has begun IND-enabling toxicology studies.

IP-wise, the company has filed both international PCT and US patent applications for LSD derivatives (including 2-bromo-LSD) covering the composition of matter, synthesis, and use for the treatment of a range of conditions including depression, anxiety, PTSD and neuropathic pain.

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