Quarterly report pursuant to Section 13 or 15(d)

Business Organization and Nature of Operations

v3.22.2
Business Organization and Nature of Operations
6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
BUSINESS ORGANIZATION AND NATURE OF OPERATIONS

NOTE 1 - BUSINESS ORGANIZATION AND NATURE OF OPERATIONS

 

180 Life Sciences Corp., formerly known as KBL Merger Corp. IV (“180LS”, or together with its subsidiaries, the “Company”), was a blank check company organized under the laws of the State of Delaware on September 7, 2016. The Company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. On November 6, 2020 (“Closing Date”), a business combination was consummated following a special meeting of stockholders, where the stockholders of the Company considered and approved, among other matters, a proposal to adopt a Business Combination Agreement. Pursuant to the Business Combination Agreement, KBL Merger Sub, Inc. merged with 180 Life Corp. (f/k/a 180 Life Sciences Corp.) (“180”), with 180 continuing as the surviving entity and becoming a wholly-owned subsidiary of the Company. References to “KBL” refer to the Company prior to the November 6, 2020 business combination.

 

The Company is a clinical stage biotechnology company focused on the development of therapeutics for unmet medical needs in chronic pain, inflammation, fibrosis and other inflammatory diseases, where anti-TNF therapy will provide a clear benefit to patients, by employing innovative research, and, where appropriate, combination therapy. We have three product development platforms:

 

  fibrosis and anti-tumor necrosis factor (“TNF”);

 

  drugs which are derivatives of cannabidiol (“CBD”); and

 

  alpha 7 nicotinic acetylcholine receptor (“α7nAChR”).