BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) (FRA:NPAU) announced Monday that it has applied for patent protection for its new 2-Bromo-LSD (TD-0148A) formulations to treat depression and mood disorders.
2-Bromo-LSD is a nontoxic second-generation LSD-derived molecule that mimics the therapeutic potential of LSD, without the psychedelic effects or hallucinations.
BetterLife noted that its recent C$10 million acquisition of the assets of Transcend Biodynamics makes it the only company able to synthesize 2-Bromo-LSD utilizing a patented process which obviates the need to first synthesize LSD-25 — eliminating the regulatory barriers of working with a Schedule 1 substance.
READ: BetterLife Pharma adds psychedelic industry leaders to its senior management team
“The invention covered by this provisional patent filing holds great promise for the treatment of various psychiatric disorders, and helps us advance on our path to becoming a leader in the psychedelic drug space which is estimated to become a $6.85 billion dollar industry by 2027 alone,” said BetterLife CEO Ahmad Doroudian in a statement.
“We are excited to be developing and bringing to market treatments addressing a range of mental health conditions, including depression and anxiety.”
BetterLife, based in Vancouver, also is developing drug candidates from a broad set of complementary interferon-based technologies that have the potential to engage the immune system to fight virus infections, such as coronavirus (COVID-19) and human papillomavirus, or to directly inhibit tumors to treat specific types of cancer.
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