- 180 Life Sciences is a clinical-stage biotechnology company that is developing therapies to combat inflammation in patients with chronic inflammation-related illnesses
- The company is being acquired by special purpose acquisition corporation KBL Merger Corp. IV (NASDAQ: KBLM) and will be listed on the Nasdaq Capital Market under ticker symbol ATNF when the deal closes later this year
- Analysts forecast the anti-inflammatory therapeutics market will be worth $191.42 billion by 2027, growing at a CAGR of 3 percent
- 180 Life Sciences is completing phase 2b/3 clinical trials tackling fibrosis and inflammation-causing TNF substance aberrations
The sudden and surprise impact of the COVID-19 pandemic this year has drawn new attention to the bioreactive intricacies of the inflammatory process (http://nnw.fm/WYUfX) as medical scientists work feverishly to develop a clear response to the crisis that has killed some 900,000 people worldwide (as of September 2020) with millions more seriously affected (http://nnw.fm/qob3O). Even before the virus began its sweep, inflammation was receiving critical attention from rheumatologists because of its significance to a wide array of diseases including arthritis, asthma, psoriasis, and many bowel diseases (http://nnw.fm/FH0Hj).
180 Life Sciences is devoting its clinical-stage biotechnology research to producing solutions that will help health professionals battle inflammation when the body’s natural processes go awry. The company’s primary focus is to treat fibrosis and inflammation using anti-TNF therapy, which seeks to suppress the immune system by blocking the activity of TNF, a substance in the body that can cause inflammation and lead to immune-system diseases.
180 Life Sciences’ lead program is in phase 2b/3 clinical trials and expects to deliver its first results next year. Other clinical trials planned by the company are scheduled to begin later this year, and two additional programs are in the preclinical stage.
KBL Merger Corp. IV (NASDAQ: KBLM), a special purpose acquisition corporation (“SPAC”), recently obtained bridge financing to acquire 180 Life Sciences, a process it expects to complete in Q4 2020. Following the merger, the company will be listed on the Nasdaq Capital Market under ticker symbol ATNF, according to a June news release (http://nnw.fm/vn087).
KBLM has filed its amended S4 with the SEC on August 28, 2020 which is pending SEC clearance.
KBLM has valued 180 Life Sciences at $175 million at a time when analysts with Fortune Business Insights anticipate the anti-inflammatory therapeutics market will grow with a 9.3 percent CAGR through 2027 to generate revenues of $191.42 billion (http://nnw.fm/o4umO).
The company’s phase 2b/3 clinical trials are tackling fibrosis and anti-TNF therapies related to early stage Dupuytren’s disease, frozen shoulder, and post-operative cognitive deficit, while preclinical studies are looking at liver fibrosis and nonalcoholic steatohepatitis.
Two other preclinical studies are tackling inflammatory pain and ulcerative colitis in ex-smokers. Developments in the anti-inflammatory therapeutics field aim to deliver medical responses that have less serious side effects than existing conventional treatments, through more effective targeting of specific conditions.
“Our scientific team has unparalleled expertise and a proven track record of developing unique drugs that are on the market and have improved the lives of millions of people and created companies that were later sold for billions of dollars. We have assembled this world-class team to build a unique, global biotechnology company dedicated to developing novel drugs in a cost-effective manner,” KBL Merger Corp. CEO Dr. Marlene Krauss stated in the June news release.
For more information, visit the company’s website at www.180LifeSciences.com.
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
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork.
No comments:
Post a Comment