180 Life Sciences Closes An $11.7 Million Private Placement
Partner Ali Panjwani, co-chair of Pryor Cashman’s Corporate Group, and partner Michael Campoli represented 180 Life Sciences as they closed on an $11.7 million private placement agreement. As detailed in a press release issued by the company:
[The] securities purchase agreements with certain institutional investors [will] raise approximately $11.7 million through the private placement of 2,564,000 shares of its common stock and accompanying warrants to purchase an aggregate of up to 2,564,000 shares of common stock at a combined purchase price of $4.55 per share and accompanying warrant. The warrants will be exercisable immediately at an exercise price of $5.00 per share and will expire five years from the date of issuance.
180 Life Sciences Corp. 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), with its lead program in phase 2b/3 clinical trials.
Read the full press release announcement in the link below.
