Inflammation typically occurs in the body as a natural response to threats such as infection or injury, but chronic inflammation can cause severe damage and even death. Inflammation is a well-known symptom of multiple infectious diseases. However, multidiscipline research strongly suggests that inflammation is also closely linked with a broad range of noninfectious diseases. The critical aspects of the interplay between inflammation and disease may well be the key to development of a new generation of drugs to treat previously untreatable diseases, sparking a flurry of biotech research and development in the field. At the vanguard of this new drug development, 180 Life Sciences Corp. (NASDAQ: KBLM) (NASDAQ: KBLMR) (NASDAQ: KBLMW) (180 Profile) is driving groundbreaking studies in clinical programs aimed at developing novel therapeutics that address distinct areas of inflammation, finally offering hope for vast unmet medical needs in inflammatory diseases, fibrosis, pain and more. Amgen Inc. (NASDAQ: AMGN) acquired the anti-inflammatory drug Enbrel for $4.8 billion in 2018 and, in conjunction with AbbVie Inc. (NYSE: ABBV) and others, is testing anti-inflammatory drugs in a joint COVID-19 study. Actemra, an anti-inflammatory arthritis drug from Roche Holding Ltd. (OTCQX: RHHBY) previously failed to meet its primary endpoint in earlier COVID trials. Johnson & Johnson (NYSE: JNJ) now owns Remicade, which was developed by the current management of 180 Life Sciences, the first tumor necrosis factor-α (TNF) inhibitor and one of the top anti-inflammatory drugs in the world with over $5 billion in sales in 2019 alone.
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About 180 Life Sciences Corp.
180 Life Sciences is a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain by leveraging the combined expertise of luminaries in therapeutics from Oxford University, the Hebrew University and Stanford University. KBL Merger Corp. (NASDAQ: KBLM) (KBL Merger Corp. Rights NASDAQ: KBLMR) (KBL Merger Corp. Warrant NASDAQ: KBLMW), a Special Purpose Acquisition Corporation (SPAC), previously announced plans to merge with 180 Life Sciences and, in connection with the merger, consummated a bridge financing on June 29, 2020, and submitted its latest S4 filing with the SEC on August 28, 2020. Close of the business combination is expected in the fourth quarter of 2020. Following the merger, the new company will be listed on the Nasdaq Capital Market under ticker symbol “ATNF.” For more information, visit the company’s website at www.180LifeSciences.com.
KBLM has valued 180 Life Sciences at $175 million, with the acquisition being carried out via a share swap, with each share of 180 Life Sciences to be exchanged for one share of KBLM.
NOTE TO INVESTORS: The latest news and updates relating to 180 Life Sciences are available in the company’s newsroom at http://nnw.fm/180
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