Innovative Companies with Blockbuster Potential Catch SPAC Attention
NEW YORK, Oct. 23, 2020 (GLOBE NEWSWIRE) -- NetworkNewsAudio – 180 Life Sciences Corp., a clinical-stage biotechnology company that has entered into a definitive merger agreement with KBL Merger Corp. (NASDAQ: KBLM) (KBL Merger Corp. Rights NASDAQ: KBLMR) (KBL Merger Corp. Warrant NASDAQ: KBLMW), announces the availability of a broadcast titled “Banking on the Next Blockbuster Drug.”
180 Life Sciences Corp. was started by four world-renowned scientists and entrepreneurs who invested their own money to start the company. These scientists own the majority of the equity in 180 Life Sciences and aren’t selling any in the pending merger with KBL Merger Corp. (NASDAQ: KBLM), slated to close before year-end. KBL Merger Corp. (a blank-check company) is the fourth Special Purpose Acquisition Company (SPAC) run by CEO Marlene Krauss, M.D.
KBLM raised $115 million with the goal of identifying and merging with a company with a strong value proposition. Krauss is an innovator and pioneer in SPACs and has invested more than $1 billion through three institutional venture capital funds, numerous IPOs and three prior SPACs. She is one of the first people to obtain both an M.D. and MBA degree from Harvard and one of the few physicians to lead a SPAC. Krauss has always had a passion for healthcare and innovative companies with blockbuster potential and, after eliminating dozens of other companies, signed a definitive agreement to acquire 180 Life Sciences Corp.
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. IV 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 Aug. 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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Released October 23, 2020