BetterLife Pharma's new acquisition takes LSD from being experimental to a major therapeutic application

BetterLife Pharma Inc (CSE:BETR) (OTCQB: BETRF) (FRA:NPAU) on Tuesday highlighted the value proposition in its acquisition of biotechnology company Transcend Biodynamics LLC, which adds its LSD derivative BOL-148 to the BetterLife pipeline.  On December 8, BetterLife signed a definitive agreement to acquire 100% of the assets of Transcend Biodynamics valued at $10 million in an all-stock deal, which amounted to 13.3 million shares at C$0.75 per share.  Vancouver-based BetterLife noted that while the medicalization of psychedelics is gaining momentum at an “extraordinary pace,” such therapeutics still face steep “regulatory hurdles” in the areas of manufacturing, formulating, and ultimately dispensing Schedule I drugs to patients. READ: BetterLife Pharma adds LSD derivative to its pipeline with C$10M Transcend Biodynamics acquisition LSD has been federally scheduled since 1970, and rescheduling progress is subject to the Food and Drug Administration’s (FDA’s) abuse potential assessment that includes an analysis of the eight factors of the Controlled Substance Act. Most significantly, Transcend’s BOL-148 is a non-toxic second-generation LSD-derived molecule that mimics the therapeutic potential of LSD, without the psychedelic effects or hallucinations, the company said. Transcend’s patented process allows for cost-effective manufacturing of BOL-148 without the need to make LSD, making it the only entity with the ability to synthesize the drug without the regulatory hurdles of handling a Schedule 1 controlled substance. “BetterLife’s acquisition of Transcend’s intellectual property allows us a rapid pathway forward to drug manufacturing and human clinical studies without the regulatory hurdles seen elsewhere in this industry,” said BetterLife Pharma CEO Dr Ahmad Doroudian. “With the acquisition of this intellectual property, we have solved the problem that has plagued psychedelic therapies for so many decades. Our highly experienced clinical team will be placing 2-Bromo-LSD into multi-center United States clinical research locations without restriction.” LSD has been studied for the treatment of people with a number of psychiatric conditions, including severe depression, alcoholism and PTSD, the company said, and research is currently experiencing a renaissance, with a number of publications referencing the effectiveness of LSD to alleviate or reverse certain mental health conditions. “Having spent decades working with psychedelic molecules which are remarkably effective at addressing addiction and mental health disorders, it can be heart-breaking to witness the disconnect between what is, and what should be. The regulatory hurdles and barriers associated with administering psychedelics to human subjects are staggering,” said Transcend President Patrick Kroupa.  “I'm very excited by the opportunities presented by BetterLife's experienced clinical research team enabling Transcend's novel therapeutics to reach human beings in need of help.” Contact the author Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive