Biotech psychedelics company BetterLife Pharma Inc. (OTCQB:BETRF) in collaboration with the Carleton University Dept. of Neuroscience has received funding from the Mitacs Accelerate Program for research into the antidepressant effects and action mechanism of BETR-001 in preclinical models of depression.

A Canadian non-profit organization, Mitacs is experienced in designing and delivering research and training programs. They network and partner with governments, the private sector, other non-profit organizations and universities toward innovation excellence.

The under-study drug, BETR-001, is a second-generation LSD derivative molecule that would mimic the therapeutic potential of LSD without causing psychedelic effects such as hallucinations. The compound is non-hallucinogenic as well as non-controlled, which makes self-administration plausible. 

As part of the funded Mitacs Accelerate Program, Dr. Argel Aguilar-Valles (principal investigator) and Dr. Vern Lewis (postdoctoral fellow) will continue to work with the BetterLife team to assess the efficacy and action mechanism of BETR-001 in depression models established in their lab.

BetterLife's synthesis patent for BETR-001 therefore could help reduce the regulatory burden, and its pending patent for composition and method of use covers the treatment of depression, cluster headaches, and post-traumatic stress disorder, among neuro-psychiatric and neurological disorders.

The company's CEO, Dr. Ahmad Doroudian, stated that BetterLife's next goal is to bring the treatment to Investigational New Drug ("IND") application as soon as possible.