Business UpdateJun 25, 2026, 02:36 PM
BetterLife Secures CAD $2M Debenture for BETR-001 IND Filing
AI Summary
BetterLife Pharma Inc. secured CAD $2,000,000 in convertible debenture financing to advance its lead candidate, BETR-001, towards an Investigational New Drug (IND) filing. The company also partnered with Syner-G BioPharma Group to oversee GMP manufacturing for BETR-001's planned IND and Phase 1 program, targeting Q1 2027 for IND filing and trial initiation. Additionally, BetterLife extended the expiry dates of several outstanding warrants, appointed Doug Drysdale as Executive Chairman, and reported on stock option grants and a previous private placement.
Key Highlights
- BetterLife closed a CAD $2,000,000 convertible debenture financing.
- Proceeds will fund BETR-001 IND-enabling activities and general working capital.
- Debenture carries 10% interest, matures June 1, 2027, convertible at CAD $0.06 per unit.
- Company partnered with Syner-G BioPharma Group for BETR-001 GMP manufacturing and IND/Phase 1 program.
- Extended expiry dates for approximately 14.35 million outstanding warrants by one year.
- Appointed Doug Drysdale as Executive Chairman and Director, granting 3.5 million stock options.
- Granted 3.25 million stock options to officers and issued 100,000 common shares for services.
- Closed an April 2026 private placement for $499,600, issuing 7.14 million units.
Price Impact
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