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BetterLife Secures Mitacs Funding in Collaboration with Carleton University Research Team for Preclinical Depression Studies TD-0148A

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VANCOUVER, British Columbia, June 24, 2021 (GLOBE NEWSWIRE) – BetterLife Pharma Inc. (“Better life“or the”Company“) (CSE: BETR / OTCQB: BETRF / ENG: NPAU), an emerging biotechnology company focused on the development and commercialization of cutting-edge treatments for mental disorders and viral infections, is pleased to announce that a joint application to the Mitacs Accelerate program, in collaboration with Dr. Argel Aguilar- Valles of the Carleton University (Carleton) Department of Neuroscience, has been successfully funded to research the antidepressant effects of TD-0148A in preclinical models of chronic depression.

TD-0148A is a second generation lysergic acid diethylamide (“LSD”) derivative molecule that BetterLife believes will mimic the intended therapeutic potential of LSD without causing unwanted psychoactive dissociative side effects, such as hallucinations.

“TD-0148A is a potential new therapy to treat debilitating psychiatric disorders with high unmet needs, such as severe treatment-resistant depression and post-traumatic stress disorder. The goal of BetterLife is to bring this treatment to the application of a new investigational drug (IND) and the clinic as soon as possible, and the scientific expertise of the Carleton University team led by Dr. Argel Aguilar-Valles in the Department of Neuroscience is an ideal partner to help us achieve our vision, ”said BetterLife CEO Dr Ahmad Doroudien.

As part of the Mitacs-funded Accelerate program, Dr. Argel Aguilar-Valles’s team will work with BetterLife to test TD-0148A in in vitro and in vivo models established in their lab. The team’s expertise is to understand the molecular mechanisms underlying psychiatric and neurodevelopmental disorders. They use a combination of biochemistry, molecular biology, neuronal culture, and animal (mouse) models to achieve this.

Dr Argel Aguilar-Valles said: “We are delighted to have the support of Mitacs to examine BetterLife’s TD-0148A in our established animal depression models. The high rate of resistance to SSRIs and other first-line treatments for major depressive disorder indicates an urgent unmet need for alternative antidepressant therapy. LSD and other psychedelic drugs have been shown to have antidepressant effects, but their hallucinogenic effects are an unwanted side effect. Non-hallucinogenic derivatives of these drugs such as TD-0148A represent a promising alternative.

Dr Ahmad Doroudian shared additional information in an interview with Proactive Investors which can be viewed at: https://www.youtube.com/watch?v=XrLmbCt8y2o.

About Carleton University, Department of Neuroscience

Carleton Neuroscience has an international reputation for researching stress and its effects on brain function and mental health. The department has an interdisciplinary approach to understand the emergence, prevention and treatment of mental and physical disorders.

For more information, please visit www.carleton.ca/neurosciences.

About Mitacs

Mitacs is a not-for-profit organization that fosters growth and innovation in Canada by solving business challenges through research solutions from academic institutions. Mitacs is funded by the Government of Canada with the Government of Alberta, Government of British Columbia, Research Manitoba, Government of New Brunswick, Government of Newfoundland and Labrador, Government of New -Scotland, Government of Ontario, Innovation PEI, Government of Quebec, Government of Saskatchewan and Government of Yukon.

For more information, please visit www.mitacs.ca.

About BetterLife Pharma Inc.

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. Using the most advanced synthetic chemistry methods and drug delivery platform technologies, BetterLife generates patent-protected non-hallucinogenic compounds that will enable outpatient treatment of mental health disorders. BetterLife is also refining and developing drug candidates from a wide range of complementary interferon-based technologies that have the potential to engage the immune system to fight viral infections.

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

Contact information:

Ahmad Doroudian, Chairman and CEO
E-mail: [email protected]
Telephone: 604-221-0595

Carleton University:

Stephen Reid, Media Relations Officer
E-mail: [email protected]

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