BetterLife Receives Approval to Conduct COVID-19 Randomized Placebo-Controlled Trial with Pontificia Universidad Católica de Chile

VANCOUVER, British Columbia, July 27, 2021 (GLOBE NEWSWIRE) — BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU) today announced that its wholly owned subsidiary, Altum Pharmaceuticals Inc. (“Altum”), and Pontificia Universidad Católica de Chile have obtained approval from the Instituto de Salud Publica de Chile to conduct their planned randomized placebo-controlled trial (“IN2COVID”) in COVID-19 patients. The trial, set to start in early August, tests BetterLife’s proprietary inhaled interferon alpha-2b (“IFN-a2b”) product, AP-003.

BetterLife’s Chief Executive Officer, Dr. Ahmad Doroudian, commented, “We are excited to initiate this trial of AP-003 in COVID-19 patients in collaboration with the Escuela de Medicina (school of medicine) at Pontificia Universidad Católica de Chile. The team as well as the trial center are the leaders in Chile in conducting COVID-19 trials.”

Dr. Arturo Borzutzky, principal investigator of the IN2COVID trial, said, “We are pleased to be partnering with Altum to bring AP-003 to COVID-19 patients”. He added, “There are several reasons why there is a need for an effective, easy to administer, non-invasive treatment, such as AP-003, for COVID-19. These reasons include: the time it will take to vaccinate the whole population; not knowing the duration of protection afforded by the current vaccines; emergence of SARS-CoV-2 variants; and emergence of possible totally new coronavirus pandemics in the future. AP-003, being a Type I interferon, is a broad acting anti-viral agent, and therefore potentially could be effective in all these scenarios.”

The IN2COVID trial will have a randomized placebo Phase 1 portion in healthy subjects followed by a randomized placebo-controlled Phase 2 portion in early stage COVID-19 patients (<5 days of diagnosis of COVID-19). The IFN-a2b treatment arms will receive BetterLife’s proprietary inhaled IFN-a2b product, AP-003, administered via nebulizer, twice daily for 10 days.

About BetterLife Pharma:

BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, TD-0148A and TD-010, to treat neurological disorders such as depression, cluster headaches and anxiety. TD-0148A is a non-hallucinogenic and non-controlled psychedelic candidate and is unique in that it is not regulated and therefore can be self-administered. TD-010 is a treatment of anxiety without the addictive potential of benzodiazepines. BetterLife also owns a drug candidate for the treatment of viral infections such as COVID-19 and is in the process of seeking strategic alternatives for further development.

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About Pontificia Universidad Católica de Chile:

Founded in 1888, Pontificia Universidad Católica de Chile is currently one of the leading higher education institutions in Latin America, ranked first in the continent for two years in a row by the Times Higher Education Ranking. Universidad Católica aspires to achieve excellence in the creation and transfer of knowledge and in providing a Catholic-based educational experience that motivates both personal growth and the development of an inquisitive and critical mind. One of its objectives is to educate persons who are committed to the construction of a more just and prosperous society. The University is an important national center for research in social sciences, natural sciences, health, economics, agriculture, philosophy, theology, arts and literature. Located in a young and geographically distant country, the University believes that maintaining an active exchange program with foreign universities is crucial for academic development.

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Contact Information:

BetterLife Pharma

Ahmad Doroudian, Chief Executive Officer
Phone: +1-604-221-0595

Media enquiries:

Henry Harrison-Topham / Jamie Hooper / Ariadna Peretz Phone: +44 (0) 20 7466 5000

Pontificia Universidad Católica de Chile:

Camila Díaz, Journalist
School of Medicine Communications Department
Phone: +569-72117700

Natalia de la Puente, Journalist
School of Medicine Communications Department
Phone: +569-76950837

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