BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) (FRA:NPAU) issued a progress update on its drug pipeline for the treatment of mental health disorders, which includes a non-hallucinogenic LSD compound.
TD-0148A is a second-generation LSD derivative molecule that has been synthesized using BetterLife’s patented manufacturing process. The firm believes TD-0148A can mimic the projected therapeutic potential of LSD without causing its undesirable psychoactive dissociative side effects.
In the progress update, BetterLife said it expects to file an Investigational New Drug Application (IND) and start human trials in the first half of 2022.
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CEO Ahmad Dorourdian told shareholders that the company is “pleased” to be moving forward with its psychedelics programs that it hopes will deliver a “better life” to people struggling with their mental health.
“Today, with 265 million people across the globe suffering from depression, there is an incredible unmet need for help,” Doroudian said in a statement.
“Psychedelics are a viable answer however they come with their drawbacks, namely they are expensive due to their regulated status, have unpredictable side effects, like hallucinations, and require being taken in the presence of at least one therapist. This makes it harder to treat depression in the majority of the affected population.”
Doroudian said that TD-0148A has the potential to overcome those 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.”
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The company is also making progress on its anxiety medication TD-010, which is projected to be developed initially for the treatment of benzodiazepine dependency. It told shareholders that it plans to file its IND in 2Q 2022 and start clinical trials in 3Q of the same year.
“There has been a rise in anxiety, panic, depression and manic conditions, and this has led to increased use of benzodiazepine drugs as patients seek to treat these issues,” Doroudian said. Unfortunately, in some cases, the use of benzodiazepines can create dependency. TD-010 can help people overcome this and manage withdrawal symptoms to live a better life.”
The CEO also added that BetterLife is making “significant progress” with its inhaled interferon alpha 2b (AP-003) program for the treatment of coronavirus (COVID-19) after striking two research agreements with Pontificia Universidad Católica de Chile and Canada’s Western University.
Vancouver-based BetterLife recently raised over C$9 million to advance its initiatives.
Contact Angela at angela@proactiveinvestors.com
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