BetterLife Pharma Inc. announced the appointment of Charles Duncan, PhD, to its board as director and chair of the audit committee, effective immediately.
Based in Vancouver, BetterLife said Duncan brings nearly three decades of experience in the biopharmaceutical sector, including roles as managing director and senior biotechnology analyst at Cantor Fitzgerald, Piper Jaffray and JMP Securities.
His career includes initiating research coverage on over 175 biotechnology companies and evaluating more than 200 investment banking transactions, including serving as senior vetting analyst on approximately 25 initial public offerings. Duncan currently serves as managing director and head of biotech strategy and development at the Gilmartin Group, and is a board member of Vanda Pharmaceuticals.
Duncan holds a Ph.D. in Pharmaceutical Sciences with a concentration in neuropharmacology from the University of Colorado and completed executive education in audit committee governance at Harvard Business School.
As part of the appointment, BetterLife granted Duncan two sets of stock options totaling 625,000 common shares. The first grant includes 500,000 options with quarterly vesting over 24 months and a ten-year term. The second grant consists of 125,000 options with a ten-year term and a three-month vesting period. Exercise prices for both grants will be determined in accordance with Canadian Securities Exchange policies.
BetterLife is developing BETR-001, a non-hallucinogenic LSD derivative for migraine and headache disorders, currently in preclinical and IND-enabling studies.
