BetterLife Pharma adds legal veteran to board, reports warrant proceeds

BetterLife Pharma Inc. (CSE: BETR) (OTCQB: BETRF) (FSE: NPAU) has appointed John W. LaRocca to its board of directors and audit committee, the Vancouver-based biotechnology company announced.

LaRocca brings roughly 30 years of biopharmaceutical industry experience, having served as chief legal officer, corporate secretary, and founding chief compliance officer at four NYSE- and Nasdaq-listed companies. His prior roles include corporate secretary positions at Y-mAbs Therapeutics, Aerie Pharmaceuticals, and Eagle Pharmaceuticals.

On the transactional side, LaRocca served as principal legal officer on the $930 million sale of Aerie Pharmaceuticals to Alcon Laboratories and the $412 million sale of Y-mAbs Therapeutics to SERB Pharmaceuticals. Earlier, as deputy general counsel at Actavis, he supported the approximately $25 billion acquisition of Forest Laboratories and the approximately $8 billion acquisition of Warner Chilcott.

In connection with the appointment, BetterLife agreed to grant LaRocca stock options to purchase 500,000 common shares at an exercise price of $0.19, with quarterly vesting over 24 months and a 10-year term.

LaRocca is the founder of LaRocca Pharma Law Group and LaRocca Advisory Services. He holds a juris doctor from Columbia Law School and a bachelor of arts from Columbia College.

Separately, BetterLife reported gross proceeds of $40,000 from the exercise of 350,000 share purchase warrants at prices of $0.10 and $0.15 per share. The company said proceeds will be directed toward development of its lead drug candidate, BETR-001, and general working capital.

You May Also Be Interested In

• Quantum Cyber files audited financials for $4.18M Arcade acquisition
• Goldgroup Mining commits $75M investment in Luca Mining
• FDA awards Palvella third year of orphan products grant funding