BetterLife Pharma Inc. (CSE: BETR) (OTCQB: BETRF) (FSE: NPAU) announced the formation of a Scientific Advisory Board to guide the clinical development of BETR-001, its investigational drug candidate for chronic cluster headache and chronic migraine, according to a company press release.

Professor Peter Goadsby, MD, PhD, FRS, has been appointed Co-Chair of the newly formed board. Goadsby is known for research identifying calcitonin gene-related peptide (CGRP) as a central driver of migraine, work that contributed to a class of migraine-specific medicines. He was a co-recipient of the 2021 Brain Prize, a neuroscience award, and was elected a Fellow of the Royal Society in 2022.

Goadsby currently serves as Senior Associate to the President and Founding Dean of the Division of Biomedical Sciences at King Abdullah University of Science and Technology (KAUST), and holds professorships at King's College London and the University of California, Los Angeles.

The advisory board will counsel BetterLife's management and board on clinical development strategy, study design, and regulatory interactions.

"Chronic cluster headache is one of the most disabling conditions in neurology, and patients who do not respond to current preventive treatment have very few options," Goadsby said in the statement.

In connection with the appointment, BetterLife agreed to grant Goadsby stock options to purchase 500,000 common shares, with quarterly vesting over 24 months and a 10-year term. The exercise price will be set in accordance with Canadian Securities Exchange policies.

BETR-001 is described as a non-hallucinogenic derivative of 2-bromo-lysergic acid diethylamide (2-Br-LSD). The company holds a granted U.S. composition-of-matter patent covering the compound. BETR-001 has not been approved by any regulatory authority.