Depression in the US Costs $362 Billion, Psychedelic Medicine May Be the Answer
Robin Lefferts
December 15th, 2021
News, Top News
What used to be called depression and then clinical depression is now called Major Depressive Disorder (MDD), and it is a pervasive problem today. The numbers cited are staggering and alarming. One study pegged the economic burden caused by adult depression in the United States at $362 billion as of 2018, an increase of 38% from 2010. A study from 2020 estimated the depression footprint was three times as prevalent during the initial stages of the pandemic as it had been previously. The World Health Organization estimates about 280 million people are suffering from it today.
In the face of such a problem, drug companies and therapists have been scrambling to find more effective treatments for the disease. One of the most promising areas of research is the use of psychedelics, like LSD and psilocybin, as a therapeutic agent for MDD.
However, there is one company that is taking this approach a step further. BetterLife Pharma Inc. (CSE: BETR) (OTCQB: BETRF), an emerging biotech company focused on the development and commercialization of cutting-edge treatment for mental disorders and viral infections, has developed a synthesized version of LSD that will offer medicinal solutions without the hallucinatory side effects.
MDD and the Treatment Gap
As more people suffer from this disease and it becomes ubiquitous, there is still a disconnect between the disease and the treatments. According to Mental Health America, over half of adults suffering from mental illness do not receive treatment. Over 60% of youth with major depression do not receive any treatment, and only 27% of those youth who do receive treatment are getting consistent care. There is a major gap in diagnosis and subsequent shortfall in treatment.
Psychedelics are moving more into the mainstream,but one question remains persistent. How should psychedelics be safely administered? As discussed in a recent Nature article on the topic, clinical trials are extremely controlled and conducted by experienced scientists, researchers, and doctors. What if treatments get approved and they are used in less controlled situations? There can also be a risk of a psychoactive reaction to the use of psychedelics.
Concerns like these could lead to regulatory caution, even in the face of overwhelming evidence of the benefit for patients. They could also lead to depressed people fearing and avoiding therapies that involve psychedelics.
But what if the benefits of psychedelics could be obtained without the unwanted side effects? That is BetterLife Pharma’s mission.
BetterLife’s Unique Approach
BetterLife took a discovery from back in 1957 and updated it for the modern world. LSD was first synthesized by Swiss chemist Albert Hofmann in 1938. After experiencing the hallucinations from the compound directly, he spent years looking for compounds that acted on the same receptors as LSD but did not make people hallucinate. In 1957, he and fellow researcher Franz Toxler produced a derivative of LSD called 2-Bromo-LSD.
This pair of scientists was looking for compounds that could be made into anti-inflammatory and anti-migraine drugs. 2-Bromo-LSD fit the bill with its ability to block unwanted serotonin receptors. Not much more research was done at the time, but a study published in 2010 showed the compound held promise for the treatment of cluster headaches.
It is not easy to conduct experiments and trials with a Schedule 1 controlled drug. Herein lies the advantage of 2-Bromo-LSD over its hallucinogenic parent – it is not a Schedule 1 controlled substance. BetterLife has developed a synthesized version of 2-Bromo-LSD that does not rely in any way on the availability of LSD itself, thereby removing a major obstacle for its research, development, and commercialization.
The company’s approach also means that its synthesized compound, called BETR-001, is protected under patent law. BetterLife has applied for patent protection for its composition, synthesis, and method of use of BETR-001, to cover potential treatments of depression, anxiety, PTSD, cluster headaches, migraines, and neuropathic pain.
Where the Company is Headed
BetterLife has been advancing its understanding of how BETR-001 works through preclinical observation and tests in advance of an anticipated IND (Investigational New Drug) Submission and then a clinical trial program. The most recent promising results came from its work in conjunction with Carleton University’s Department of Neuroscience. Researchers found that depressed mice, exhibiting behaviors such as reduced grooming and exploratory activity, responded very well when treated with BETR-001.
Other recent results confirmed the compound exhibits no hallucinogenic properties, and acts on receptors linked to both depression and neuropathic pain. Look for BetterLife to continue to build its case in preparation for an IND filing and the commencement of clinical trials.
The company is also in the pre-clinical phase with a compound based on magnolia bark extracts for the treatment of benzodiazepine dependence, anxiety, and spasticity and is conducting Phase 2 trials for a novel interferon-based treatment of COVID-19. Keep an eye out for more developments on all fronts as BetterLife Pharma advances its research in all three areas.
BetterLife Pharma is focused on developing and commercializing compounds to treat neurological and neuro-psychiatric disorders as well as viral infections.
Interested readers are encouraged to contact the company via Manager of Investor Relations David Melles, at David.Melles@blifepharma.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Robin Lefferts
Robin Lefferts has been involved in the legal cannabis industry since 2012, sometimes as an active participant and always as an interested observer.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Matt Hawkins is the founder and managing principal of Cresco Capital Partners, LLC (“Cresco”), a private equity firm focused specifically on investing in the legalized cannabis industry. Since its inception in the summer of 2015, Cresco has made 14 investments out of its first fund and is currently raising this fund, Fund II. Prior to the […]
Technical420 is the premier provider of research and analysis on cannabis stocks. We provide investors with sponsored and non-sponsored information on the volatile and emerging cannabis industry. “Our research is our passion!” Your profit is our reward!
Flora is building a connected, design-led collective, of plant-based wellness and lifestyle brands, that delivers the most compelling customer experiences in the world, one community at a time.
Wildflower Brands is a Vancouver-based company developing and designing brands that focus on plant-based health and wellness products.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
