NetworkNewsWire Editorial Coverage: As the world has focused on the search for COVID vaccines and therapeutics, biotech IPOs have quietly gone bonkers. As a matter of fact, 2020 is on track to post the highest number of biotech IPOs in over five years. Along the way, biotech companies have managed to raise a lot of capital already this year. As biotech demand has surged, so has the number of biotech-focused SPACs (Special Purpose Acquisition Company). A SPAC is a company that raises capital through an IPO with the sole intent of buying or merging with another operating company. SPACs have evolved to become an expedited and cost-effective way of doing an IPO and have proved to be an attractive vehicle for biotech companies by providing ready access to capital and much greater public visibility. Many of these biotech SPACs are delivering outsized returns, bolstering both investor confidence and demand. Expectations are high to repeat previous biopharmaceutical success at 180 Life Sciences Corp. (180 Profile), which is expected to merge before year end with KBL Merger Corp. IV (NASDAQ: KBLM). The company is founded and run by four world-renowned scientists and entrepreneurs who developed the blockbuster anti-inflammatory drug Remicade. They invested their own money to start 180 Life Sciences, own the majority of the equity and aren’t selling any in this transaction. Pharmaceutical giant Eli Lilly and Company (NYSE: LLY) recently announced that its anti-inflammatory drug, Olumiant, used to treat rheumatoid arthritis, may help shorten COVID-19 recovery time. Rebif, an anti-inflammatory drug from Merck KGAA ADR (OTC: MKKGY), is in phase 3 trials with Gilead Sciences’ remdesivir for the treatment of hospitalized COVID-19 patients. Reata Pharmaceuticals Inc. (NASDAQ: RETA) is a clinical-stage biopharmaceutical company that develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways involved in the regulation of cellular metabolism and inflammation. Panacea Acquisition Corp. (NYSE: PANA) is a special purpose acquisition company formed by an affiliate of EcoR1 Capital, LLC. While the company may pursue an initial business combination target in any industry, it intends to focus its search for a target business operating…
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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: [email protected] 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.