NetworkNewsWire Editorial Coverage: Pharmaceutical companies invest enormous amounts of time and money on the research and development of new drugs, typically years in the making and costing millions of dollars. Only occasionally is a new drug developed that’s approved and generates more than $1 billion per year in sales, a benchmark in the industry commonly called a “blockbuster.” Blockbusters are scarce, but the proverbial quest for blockbuster drugs continues unabated because of vast unmet medical needs and because blockbuster therapeutics can be worth tens of billions of dollars during their patent-protected lives. Little wonder that pharmaceutical giants often buy up promising new drugs, some even in their infancy, not just to fill their pipeline or mesh with current R&D projects but also to bank on a bonanza of prospective revenues that could exceed $100 billion. With so much at stake, it only makes sense to pay special attention to scientists who have previously developed and delivered these blockbusters. With this in mind, expectations are high for 180 Life Sciences Corp. (180 Profile) since the founders have significant expertise in developing new therapeutics that were sold to big pharma for billions. They are renowned for development of some of the largest-selling drugs to ever come to market. Now they aim to do it again with a pipeline of drug candidates in sequential stages of development that address large untapped markets. The founding scientists at 180 Life Sciences discovered the anti-TNF drug class that led to Remicade, the fourth all-time best-selling drug in the world. Presently owned by Johnson & Johnson (NYSE: JNJ), Remicade has exceeded $90 billion in total sales since approval. AbbVie Inc. (NYSE: ABBV) licensed the anti-TNF patents from these scientists for use with Humira, the second best-selling drug in the world, with lifetime sales of $137 billion. Amgen Inc. (NASDAQ: AMGN) owns the seventh best seller, Enbrel, that treats psoriasis and rheumatoid arthritis and has generated over $81 billion in lifetime sales. Novartis AG (NYSE: NVS) owns the world’s 12th best-selling drug, Diovan, which treats high blood pressure and heart failure and has over $60 billion in lifetime sales. Only a handful of every thousand drugs that start development ever make it to the final stages of clinical trials and, even then, not all of those are approved. However, the extremely low odds of…
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Additional Information about the 180 Life Sciences Business Combination and Where to Find It
KBL Merger Corp. IV (“KBL”) has filed a registration statement on Form S-4, which includes a preliminary proxy statement/prospectus for KBL’s stockholders, with the Securities and Exchange Commission. KBL’s definitive proxy statement/prospectus will be mailed to KBL’s stockholders that do not opt to receive the document electronically. KBL and 180 Life Sciences urge investors, stockholders and other interested persons to read the preliminary proxy statement/prospectus, as well as other documents that will be filed with the SEC, because these documents will contain important information about the proposed business combination transaction. Such persons can also read KBL’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, for a description of the security holdings of its officers and directors and their respective interests as security holders in the consummation of the proposed business combination transaction. KBL’s definitive proxy statement/prospectus, which is included in the registration statement, will be mailed to stockholders of KBL as of a record date to be established. KBL’s stockholders will also be able to obtain a copy of such documents, without charge, by directing a request to: KBL Merger Corp. IV, 30 Park Place, Suite 45E, New York, NY 10007; e-mail: admin@kblvc.com These documents can also be obtained, without charge, at the SEC’s web site (http://www.sec.gov)
Participants in Solicitation
KBL and its directors and executive officers may be deemed to be participants in the solicitation of proxies for the special meeting of KBL’s stockholders to be held to approve the proposed transactions in connection with the business combination with 180 Life Sciences. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of KBL’s stockholders in connection with the proposed business combination with 180 Life Sciences are set forth in the amended preliminary proxy statement/prospectus included in the registration statement that was filed with the SEC on August 28, 2020. You can find information about KBL’s executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on April 7, 2020. You can obtain free copies of these documents from KBL using the contact information above.
Non-Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination between KBL and 180 Life Sciences and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of KBL and 180 Life Sciences, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.