180 Life Sciences Corp. (NASDAQ: ATNF), a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, has announced the closing of its previously announced private placement. The private placement included 2,564,000 shares of common stock and accompanying warrants, each share sold for a combined purchase price of $4.55 per share and warrant. The private placement resulted in gross proceeds of $11.7 before deducting customers fee. The announcement noted that the warrants were immediately exercisable at $5.00 per share; they are also set to expire five years from the date of issuance. ATNF plans to use the private placement funds for general corporate purposes and working capital as well as for the research and development of its programs that are not funded by grants.
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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. 180 Life Sciences is leading the research into solving one of the world’s biggest drivers of disease — inflammation. The company is driving groundbreaking studies into clinical programs, which are seeking to develop novel drugs addressing separate areas of inflammation for which there are no effective therapies. 180 Life Sciences’s primary platform is a novel program to treat fibrosis using anti-TNF (“TNF”) (tumor necrosis factor), with its lead program in phase 2b/3 clinical trials. For more information about the company, visit www.180LifeSciences.com.
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