The client win is part of a wider partnership between the corporate and financial relations agency and venture capitalists The Conscious Fund, which specialises in psychedelic medicine, drug discovery and addiction programmes.
Announced today, Buchanan's brief for BetterLife is to support the life sciences company to achieve its corporate objectives.
These are to increase its visibility among retail and institutional investors, build its reputation as a leader in the psychedelic medicine sector and educate the public about the benefits of psychedelic treatments.
Buchanan won the account on a retainer basis as a result of its partnership with The Conscious Fund, which holds BetterLife Pharma among its portfolio of companies.
The account will be led by Henry Harrison-Topham, partner and head of the ‘Cannabis & Wellness’ team at Buchanan.
He said: “We are delighted to have been appointed financial communications adviser by BetterLife Pharma, which is at the forefront of this exciting growth sector. We look forward to sharing its investment proposition and growth prospects with generalist and specialist investors, while also educating the wider market of the potential of psychedelic medicine.”
The psychedelic medicine sector is in development, with treatments aimed at people with addiction, depression and PTSD. But it is still a niche field and requires access to mainstream and financial media to drive investment and public understanding.
Ahmad Doroudian Ph.D, chief executive at BetterLife, said the company was entering “a transformational phase” with “significant milestones” expected during the next six months.
He added: “We are very keen on expanding our reach and sharing our story beyond the psychedelic sector, which today is still quite niche. We look forward to working with Buchanan, which has a track record of educating the public and private capital markets through creative and impactful strategic communications.”
Making psychedelics mainstream
Buchanan, which is a WPP company, also announced its partnership with The Conscious Fund, which describes itself as an “early-stage investor in the psychedelic medicine sector”.
The agency said the partnership would bring together its understanding of the media’s impact on global and public capital markets with The Conscious Fund’s track record of investing in psychedelic medicine companies, in order to move the sector from a niche area to mainstream medicine.
Henri Sant-Cassia, founding partner at The Conscious Fund and a director on BetterLife Pharma’s board, said: “If psychedelic medicine is to achieve its potential in serving humanity, we must reach a larger and more generalist audience.”
Harrison-Topham added: “We believe we are the ideal communications partner for this fledgling industry due to our ability to convey a company’s investment proposition to the public and private capital markets through creative and impactful strategic communications.”
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