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, announces an agreement with the laboratory of Dr. Adam L. Halberstadt at the University of California San Diego ("UCSD") for TD-0148A preclinical behavioural pharmacology studies. TD-0148A is a second-generation lysergic acid diethylamide ("LSD") derivative that BetterLife believes will mimic the therapeutic potential of LSD without producing hallucinogenic effects or other psychoactive side-effects.

"TD-0148A is a potential new therapy to treat debilitating psychiatric disorders with high unmet need, such as severe treatment-resistant depression and post-traumatic stress disorder. BetterLife's goal is to bring this treatment to the clinic as soon as possible, and the expertise of Dr. Halberstadt, a leading scientist in the field of psychedelic behavioural pharmacology, will help us realize our vision" said BetterLife's Chief Executive Officer, Ahmad Doroudian.

As part of the research agreement, Dr. Halberstadt's team will work with BetterLife to test TD-0148A in various preclinical models that are established in their lab. The team's expertise is to understand how psychedelics and related compounds interact with the serotonergic system and how those molecules could be developed to treat psychiatric and neurodevelopmental disorders. Dr. Halberstadt's research focuses on the pharmacology of psychedelic drugs and their derivatives. He is a co-founder of the Psychedelics and Health Research Initiative at UCSD and served as the primary editor of the 2018 book Behavioral Neurobiology of Psychedelic Drugs.

"We are excited to have the opportunity to examine TD-0148A in our established preclinical models," said Dr. Halberstadt. "Given the high rate of resistance to selective serotonin reuptake inhibitors and other first-line treatments for major depressive disorder, there is an urgent need for new anti-depressant medications. LSD and other psychedelic drugs have been shown to have anti-depressant effects, but some patients will not tolerate their hallucinogenic effects. Therefore, non-hallucinogenic derivatives of these drugs, such as TD-0148A, represent a promising alternative."

About BetterLife Pharma

BetterLife Pharma Inc. is an emerging biotechnology company engaged in the development and commercialization of next-generation psychedelic products for the treatment of mental disorders. Utilizing drug delivery platform technologies, BetterLife is also refining and developing drug candidates from a broad set of complementary interferon-based technologies which have the potential to engage the immune system to fight virus infections, such as the coronavirus disease (COVID-19) and human papillomavirus.

For further information, please visit www.abetterlifepharma.com.

About UC San Diego School of Medicine

Established in 1968, UCSD School of Medicine is consistently ranked among the top medical school programs in the country for primary care and research by U.S. News & World Report and among the top 10 medical schools for National Institutes of Health total funding. The school is internationally recognized as a place where discoveries are delivered - bringing breakthroughs from the research lab to patients' bedsides. Faculty members care for patients at UC San Diego Health, where primary care is available at several convenient locations throughout San Diego County, and our advanced specialty care consistently ranks among the nation's best. For more information, please visit medschool.ucsd.edu.

CONTACT:
Ahmad Doroudian, Chief Executive Officer

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Phone: 604-221-0595

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