VANCOUVER, Feb. 3, 2020 /CNW/ - BetterLife Pharma Inc. ("BetterLife" or the "Company") (CSE: BETR / OTCQB: PVOTF / FRA: NPAT) today announced the acquisition of Swiss based Solmic AG with its strong IP portfolio including unique formulation technology for the production of stable micelles containing water insoluble compounds such as CBD. Solmic AG's unique micelle production technology has been shown to greatly enhance the bioavailability of fat soluble ingredients by as much as 15 times. This technology allows for accelerated uptake of cannabinoids in the human digestive tract. A unique Solmic micelle 1% CBD formulation is currently sold in the European market. BetterLife has initiated plans to leverage the ownership of these newly acquired patents into revenue generation through the newly founded Pivot Europe Pharmaceuticals AG based in Liechtenstein and Switzerland.
"Acquisition of these patents originally developed in Switzerland allows BetterLife to commercialize products that deliver orally bioavailable CBD like no other product currently in the market. Ownership of Solmic AG micelle formulation technology along with Thrudermic and RTIC technologies give BetterLife a full arsenal of unique world class formulations to deliver CBD through oral liquid, topical and solid formulations. BetterLife operations team is committed to the commercial launch these unique products in the next 2 to 3 months", said Ahmad Doroudian, interim CEO.
About BetterLife Pharma Inc.
BetterLife Pharma Inc. is a science-based innovative medical wellness company aspiring to offer high-quality preventive and self-care products to its customers. BetterLife has developed pharmaceutical grade products including CBD, phytocannabinoid and micronutrient derived formulations utilizing proprietary drug delivery technologies that are unique, patent protected and with clear superior benefits to the user such as high absorption, low bioburden and ease of use. BetterLife is uniquely positioned to execute on its brand leader strategy in its main markets in Germany, US and Canada.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, the matters set forth above may be forward-looking statements that involve risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of BetterLife's products, statements with respect to internal expectations, the competitive environment within the industry, the ability of BetterLife to commence and expand its operations, the level of costs incurred in connection with BetterLife's operational efforts, economic conditions in the industry, and the financial strength of BetterLife's future customers and suppliers. BetterLife does not undertake any obligation to update such forward-looking statements, except as required by law.
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SOURCE BetterLife Pharma Inc.