BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU), an emerging biotechnology company primarily focused on developing compounds to treat neurological conditions, announces an agreement with Laboratory of Dr. John McCorvy at the Medical College of Wisconsin (“MCW”) for TD-0148A preclinical receptor binding studies. TD-0148A is a non-regulated and non-scheduled second-generation lysergic acid diethylamide (“LSD”) derivative molecule that BetterLife believes will mimic the projected therapeutic potential of LSD without the undesirable psychoactive dissociative side effects, such as hallucinations. It is being developed to treat cluster headaches and major depression disorder.
Ahmad Doroudian, BetterLife's Chief Executive Officer, said: "TD-0148A is a potential new therapy to treat debilitating psychiatric disorders with high unmet need, such as cluster headaches and treatment-resistant severe depression. As a leading scientist in the field of neurological receptors, Dr. McCorvy and his team are ideal partners to work with BetterLife to better understand the neurological receptor pharmacology of TD-0148A’s novel mechanism of action and non-hallucinogenic properties. These studies will assist BetterLife’s goal of bringing TD-0148A to IND and the clinic as soon as possible."
As part of the research, Dr. McCorvy’s team will work with BetterLife to delineate TD-0148A’s signaling profile against various G protein coupled receptor (“GPCR”) relevant in neuro-psychiatry. The team’s expertise is to understand how psychedelics or related compounds interact with the serotonin systems and how this could be developed to treat psychiatric and neurodevelopmental disorders. Dr. McCorvy is an Assistant Professor at the Department of Cell Biology, Neurobiology and Anatomy (CBNA) at the MCW and focuses on study of GPCR recognition and signaling involved in various psychoactive and physiological effects in human disease, with emphasis on psychedelic, antipsychotic, and antidepressant drug action.
About BetterLife Pharma
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.
TD-0148A, which is in preclinical and IND-enabling studies, is the only non-hallucinogenic and non-controlled psychedelic candidate on the market and it is unique in that it is unregulated and therefore can be self-administered. BetterLife’s synthesis patent for TD-0148A eliminates regulatory hurdles and its pending patent for method of use covers treatment of depression, migraines, post-traumatic stress disorder and other neuro-psychiatric disorders. The global depression drugs market reached US$12.41 billion in 2019 and projected to reach near US$25 billion by 2030. According to the WHO, depression is one of the leading causes of disability, impacting approximately 265 million people in the world.
TD-010, which is in preclinical and IND-enabling studies, is based on Honokiol, the active anxiolytic ingredient of magnolia bark. BetterLife’s patented formulation improves bioavailability by two times and formulations covered include oral capsules, tablets and sub-lingual delivery. BetterLife’s pending method of use patent covers treatment of benzodiazepine dependency, anxiety, insomnia, etc. The global benzodiazepines market is expected to grow to US$4.15 billion in 2017 (from US$3.48 billion in 2019) at a CAGR of 2.25%.
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 www.abetterlifepharma.com.
About the Medical College of Wisconsin
With a history dating back to 1893, the Medical College of Wisconsin is dedicated to leadership and excellence in education, patient care, research and community engagement. More than 1,400 students are enrolled in MCW’s medical school and graduate school programs in Milwaukee, Green Bay, and Central Wisconsin in. MCW’s School of Pharmacy opened in 2017. A major national research center, MCW is the largest research institution in the Milwaukee metro area and second largest in Wisconsin. In the last ten years, faculty received more than $1.5 billion in external support for research, teaching, training and related purposes. This total includes highly competitive research and training awards from the National Institutes of Health (NIH). Annually, MCW faculty direct or collaborate on more than 3,100 research studies, including clinical trials. Additionally, more than 1,650 physicians provide care in virtually every specialty of medicine for more than 2.8 million patients annually.
For more information, please visit: https://www.mcw.edu/departments/cell-biology-neurobiology-and-anatomy/people/john-d-mccorvy-phd
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.