Honokiol

VANCOUVER, British Columbia, Jan. 14, 2025 (GLOBE NEWSWIRE) -- BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU), an emerging biotech company focused on the development of BETR-001, a non-hallucinogenic derivative of lysergic acid diethylamide (“LSD”), announced that the USPTO has granted the BETR-001 composition of matter patent US publication number US2023/0219955 with expiry in 2042. BetterLife now has multiple layers of intellectual property protection for BETR-001 including previously issued patents for synthesis of 2-bromo-LSD; US9,868,732B2 and US10,377,752B2 which were issued in 2018 and 2019, respectively. Dr. Ahmad Doroudian, CEO of BetterLife commented, “We are extremely pleased with the grant of these composition of matter claims that cover BETR-001 as well as other forms of 2-bromo-LSD. This is a significant milestone as the issuance of this patent by USPTO ensures the commercial potential of BETR-001 which is the R:R stereoisomer of 2-bromo-LSD. BetterLife is the first to show that, of the four possible 2-bromo-LSD stereoisomers (R:R, R:S, S:R and S:S), the R:R stereoisomer is the one that is active at the neuroreceptors that are involved in the treatment of various mental health disorders.” He further added, “We are actively pursuing additional claims such as method-of-use and so forth, which were part of the original provisional application. Furthermore, we have separately filed other patent applications that cover BETR-001 as well as other forms of 2-bromo-LSD. Taken together, we are confident about our strong intellectual property position in this field and a strong and highly valuable commercial viability of BETR-001.” About BetterLife Pharma BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders. BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic and non-controlled LSD derivative in development and it is unique in that it is unregulated and therefore can be self-administered. BetterLife’s synthesis patent for BETR-001 eliminates regulatory hurdles and its pending patent, for composition and method of use, covers treatment of major depressive disorder, anxiety disorder and neuropathic pain and other neuro-psychiatric and neurological disorders. BETR-002, which is in preclinical and IND-enabling studies, is based on honokiol, the active anxiolytic ingredient of magnolia bark. BetterLife’s pending method of use and formulations patent covers treatment of anxiety related disorders including benzodiazepine dependency. BetterLife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development. For further information, please visit BetterLife Pharma. Contact David Melles, Investor Relations Manager Email: David.Melles@blifepharma.comPhone: 1-778-887-1928 Cautionary Note Regarding Forward-Looking Statements No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.