BetterLife Pharma awarded funding from Mitacs Accelerate program for research on LSD to treat depression

BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) (FRA:NPAU) announced it has received funding from the Mitacs Accelerate program to research the anti-depressant effects of an LSD derivative. 

TD-1048A is a second-generation LSD derivative molecule that could offer therapeutic effects without any psychoactive reactions like hallucinations commonly associated with the psychedelic compound. 

BetterLife submitted a joint application for funding to the Mitacs Accelerate program with Dr. Aguilar-Valles at Carleton University’s Department of Neuroscience to research TD-0148A in preclinical models of depression. 

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Aguilar-Valles and the team will work with BetterLife to test TD-0148A in both in vitro and in vivo models that are established in their lab, BetterLife said in a statement, adding that the team’s “expertise is to understand the molecular mechanisms that underlie psychiatric and neurodevelopmental disorders.”

BetterLife CEO Ahmad Doroudian called TD-0148A “a potential novel new therapy to treat debilitating psychiatric disorders with high unmet need”, including treatment-resistant severe depression and post-traumatic stress disorder.

“BetterLife’s goal is to bring this treatment to Investigational New Drug (IND) application and the clinic as soon as possible, and the scientific expertise of Carleton University’s team headed by Dr. Argel Aguilar-Valles at the Department of Neuroscience, is an ideal partner to help us realize our vision,” Doroudian said.

“We are delighted to have Mitacs’ support to examine BetterLife’s TD-0148A in our established animal depression models. The high rate of resistance to SSRI and other first-line treatments for major depressive disorder indicates an urgent unmet need for alternative anti-depressant treatments,” Dr. Aguilar-Valles told investors.

“LSD and other psychedelic drugs have been shown to have anti-depressant effects, but their hallucinogenic effects represent an undesirable side effect. Non-hallucinogenic derivatives of these drugs such as TD-0148A represent a promising alternative.”

Vancouver-based BetterLife is an emerging biotechnology company that develops and commercializes next-generation psychedelic products for the treatment of mental disorders.

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Story by ProactiveInvestors