In Pursuit of the Elusive Drug — the Billion-Dollar Blockbuster
October 22, 2020 at 09:05 AM EDT
NetworkNewsWire Editorial Coverage: Enormous amounts of money exchange hands in the big pharma space as companies merge and are acquired — all in search of the next blockbuster drug. While the discovery of a blockbuster drug, or a drug that generates more than $1 billion in sales per year, occurs rarely, the tremendous benefits of owning blockbuster therapeutics can mean tens of billions of dollars for a company during the patent-protected life of the drug. It makes sense, then, that pharmaceutical giants are in hot pursuit of what could be the next new drug — and the company that owns that drug. 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) (180 Profile), could be one of those companies. All four of the company’s founders have a background in developing therapeutics that were snatched up by larger pharmaceutical companies for billions. Certainly acquisitions is a common strategy for big players in the pharma sector. Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) recently entered into a definitive merger agreement to acquire Portola, a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders. Gilead Sciences Inc. (NASDAQ: GILD) and Immunomedics just announced that they have entered into a definitive agreement as well; the agreement outlines Gilead intent to acquire Immunomedics, a leader in next-generation antibody-drug conjugate (ADC) technology. Eli Lilly and Company (NYSE: LLY) is also pursuing an acquisition target. Earlier this month the company announced plans to acquire Disarm Therapeutics, a move that expands the company’s R&D efforts in pain and neurodegeneration. And Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) also had an R&D objective — to develop curative cell-based treatments for…
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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@example.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.
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.