BetterLife Announces Engagement of Bloom Burton Securities Inc. and Provides Summary of 2022 Accomplishments

“We are very excited to be working with Bloom Burton, Canada’s leading healthcare investment banking firm. Bloom Burton has extensive understanding of the overall biotechnology and healthcare landscape and the emerging psychedelics space specifically, which will help advance our clinical trial initiatives and accomplish our financing needs.”

Ahmad Doroudian, CEO of BetterLife

• Development of scaled-up (kg batch size) manufacturing of BetterLife’s proprietary form of 2-bromo-LSD (“BETR-001”) using BetterLife’s proprietary synthetic pathway. The starting material and whole synthetic pathway do not involve any controlled substance and, therefore, are not bound by controlled substance regulations. Both the synthetic route and the end-product are proprietary (BetterLife’s provisional patents).
• Initiation of GMP manufacturing of BETR-001.

• A comprehensive preclinical in-vitro and in-vivo characterization of BETR-001 conducted in collaboration with three leading investigators in this field: Dr. Adam L. Halberstadt (University of California San Diego, USA), Dr. Argel Aguilar-Valles (Carleton University, Canada), and Dr. John D. McCorvy (Medical College of Wisconsin, USA).
• The studies include an in vitro pharmacological profiling of BETR-001 over 30 key neuroreceptors in parallel with its parent compound LSD, as well as in-vivo studies in mouse models, showing the non-hallucinogenic profile of BETR-001 as well as its effective structural neuroplasticity and anti-depressant profile. Furthermore, the research provides insight into the mechanism for the non-hallucinogenic activity of BETR-001, as well as other key pharmacological differences between BETR-001 and LSD which could potentially translate into significant therapeutic benefits of BETR-001.
• At the end of 2022, the manuscript on the BETR-001 preclinical data was submitted to a high impact peer-reviewed scientific journal for publication and is currently awaiting review outcome.

• Initiation of IND-enabling GLP toxicology studies. Studies are ongoing.
• IND-enabling studies are based on guidance from the BETR-001 pre-IND FDA meeting held in 2021.

• Filing of a PCT patent application along with a U.S. application for LSD derivatives, including 2-bromo-LSD. The applications cover compositions of these derivatives; their synthesis without involving controlled substances; and their use in the treatment of a range of neuropsychiatric and neurological conditions, including depression, anxiety, PTSD, and neuropathic pain.

• Canadian Association for Neuroscience (CAN) / May 12-15, 2022 / Toronto, Canada.
• Federation of European Neuroscience Societies (FENS) / July 9-13, 2022 / Paris, France.
• 61^st Annual Meeting of the American College of Neuropsychopharmacology (ACNP) / December 4-7, 2022 / Phoenix, Arizona.
• Abstract submitted and accepted for presentation at the Annual Conference of Society of Biological Psychiatry (SOBP) / April 27-29, 2023 / San Diego, California.

• MedMelior’s interferon alpha 2b (“IFNa2b”) provisional patent (manufacturing, cell bank, formulation, and use) was entered into national filing phase in different countries.
• A Phase 1 trial in healthy subjects was completed with MM-003 (IFNa2b in MedMelior’s proprietary inhalation formulation). Trial was an independent investigator study conducted in Chile by the Pontificia Universidad Católica de Chile. Data showed inhaled MM-003 was safe and well tolerated.
• A Phase 2 trial of treatment with MM-003, with twice daily inhalation, in early stage COVID-19 patients was conducted in Chile. The trial was an independent investigator study conducted in Chile by the Pontificia Universidad Católica de Chile. Patient treatments were completed and data analysis is ongoing.
• MedMelior continues to pursue strategic options for funding and partnership to develop its MM-001 and MM-003 programs.