BetterLife Pharma Inc. closed a private placement, raising $530,000 for mental health drug development

From GlobeNewswire.: 2024-06-14 08:00:00

BetterLife Pharma Inc. has closed a private placement, raising $530,000 by issuing 5.3 million units. Each unit consists of one common share and one warrant, with Dr. Ahmad Doroudian, the CEO, subscribing for 500,000 units. The company plans to launch another private placement round for up to $100,000, continuing its focus on developing compounds to treat mental disorders like major depressive disorder and anxiety. BETR-001, a non-hallucinogenic LSD derivative, and BETR-002, based on honokiol, are both in preclinical studies for potential treatments. BetterLife is also exploring options for a viral infection drug candidate.



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