BetterLife Pharma advancing Altum Pharmaceuticals merger and plans to develop AP-003 to treat coronavirus

BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) said on Monday that its proposed acquisition of Altum Pharmaceuticals Inc and plans to develop AP-003 to treat coronavirus (COVID-19) are advancing. The company said a special meeting of Altum shareholders, more than 72% of whom have signed a lock-up agreement, is scheduled for July 29 to approve the merger. The results of the vote will be announced shortly thereafter. READ: BetterLife Pharma secures support of Altum shareholders in proposed acquisition BetterLife also said Altum is making progress with the US Food and Drug Administration (FDA) following its May request for a pre-Investigational New Drug (IND) meeting on AP-003 (Interferon Alpha-2b for inhalation).  The FDA has responded and provided clear and implementable guidance that can lead to a successful IND filing upon completion of one additional nonclinical study, BetterLife said.  "We are pleased with the feedback from the FDA which provided guidance on non-clinical, CMC and clinical aspects of Altum's proposed plan to initiate an AP-003 COVID-19 development program," Ahmad Doroudian, CEO of BetterLife and Altum In a statement. "The FDA also encouraged further interactions as we near the IND filing." Doroudian said the FDA guidance “clearly lays out the steps that we have to take to move AP-003 forward so that it reaches the clinic for the treatment of COVID-19.” He added that the company is working towards starting clinical trials in the next two to three months. The CEO said the Vancouver-based company will release more detailed clarification on the feedback from the FDA and on its planned human trials immediately after the merger vote. Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham