180 Life Sciences (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 closed its previously announced private placement of 2,500,000 shares of its common stock and accompanying warrants to purchase an aggregate of up to 2,500,000 shares of common stock at a combined purchase price of $6.00 per share and accompanying warrant. According to the update, the warrants are exercisable immediately, each at an exercise price of $7.50 per share, and will expire five years from the date of issuance. The company secured gross proceeds of approximately $15.0 million, of which it intends to use net proceeds for general corporate purposes, working capital and for the research and development of its programs that are not funded by grants. Maxim Group LLC acted as the sole placement agent for the transaction.
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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. The company’s primary platform is a novel program to treat fibrosis using anti-TNF (tumor necrosis factor). For more information, visit the company’s website at www.180LifeSciences.com.
NOTE TO INVESTORS: The latest news and updates relating to ATNF are available in the company’s newsroom at http://ibn.fm/ATNF
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