• George Stella appointed chief revenue officer of BIGtoken following executive vice president tenure at SRAX
• SRAX moving BIGtoken to separate publicly traded company through definitive share exchange agreement with Force Protection Video Equipment Corp
• BIGtoken platform compensates over 16 million users for data that marketers access for fee

BIGtoken(R) Inc., a former SRAX (NASDAQ: SRAX) division, has appointed SRAX executive vice president George Stella as chief revenue officer of BIGtoken following its transition to a publicly-traded company. BIGtoken is a consumer data management and distribution system empowering brands to unlock the power of data through a transparent platform that rewards consumers with cash and gift cards when they opt in to release their data to marketers.

Stella’s appointment as chief revenue officer is one of the latest in a series of announcements by SRAX regarding BIGtoken’s management team. His relationship with BIGtoken took root early in the platform’s evolution, starting with an integral role in designing initial solutions for large brand advertisers that led to his most recent position as executive vice president at the Company.

“I am very proud to say we have doubled revenues every quarter this year, and currently serve seven of the top ten CPG advertisers as repeat customers,” said Stella in recent statements (https://ibn.fm/Mhj75). “I couldn’t be more excited at the opportunity to pave the way forward as leaders in consumer privacy, data, insights, and media as our industry navigates this rapidly evolving new data economy.”

Stella’s advertising career started at Comedy Central and evolved into sales-focused roles at several prominent digital media companies. Prior to joining SRAX and BIGtoken, Stella held several marketing roles that included driving digital shopper strategies and leveraging real-time consumer intent at Yieldbot, senior sales positions at OwnerIQ and HookLogic, and an 11-year tenure as sales director at 24/7 Real Media.

Following several successful years as a division of SRAX, management recently announced its plans to spin off BIGtoken as a separate company through a definitive agreement with Force Protection Video Equipment Corp (“FPVD”) that will exchange all outstanding BIGtoken equity for 88.9% of all FPVD issued and outstanding shares. Following completion of the deal, FPVD will be rebranded as BIGtoken with former SRAX board member Malcolm CasSelle as CEO (https://ibn.fm/qXedP).

BIGtoken compensates over 16 million users for access to their data while creating data sets across 25,000 unique market segments. Brands are offered access to this valuable data for a fee.

For more information, visit the company’s website at www.SRAX.com.

NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX

• The company’s patent portfolio includes its own intellectual property and exclusive worldwide licenses, including in the U.S., Canada, Europe, Australia, Hong Kong, and China
• 180 Life Sciences is in the final stages of its merger process with KBL Merger Corp. IV, with the resulting entity to list on NASDAQ under the ticker “ATNF”
• The company is devoting its clinical-stage biotechnology research to producing solutions that will help battle inflammation. Its primary focus is to treat fibrosis and inflammation using anti-TNF therapy
• The estimated annual market size for anti-inflammatory therapeutics is projected to grow to an estimated $106.1 billion in 2020.

KBL Merger Corp. IV (NASDAQ: KBLM), a special purpose acquisition corporation (“SPAC”) that has signed a detailed merger agreement with 180 Life Sciences Corp., announced that the company has continued to expand its IP portfolio. 180 Life Sciences Corp. is a clinical-stage biotech company currently in the developmental stage of three novel drugs. These drugs will fulfill the unmet need within the healthcare industry for inflammatory diseases, pain, and fibrosis.

The current patent portfolio that 180 Life Sciences Corp. has applied and received licenses for covers 14 patent families consisting of 42 patents issued and 32 pending in jurisdictions such as the United States, Europe, Canada, Japan, Australia, and China (https://ibn.fm/ptO60).

The latest patent, granted on June 3 by the EU Patent and Trademark Office, is for methods of prevention or treatment of triggered inflammatory reactions using TNF alpha antagonist. “The issuance of our European patents significantly strengthens the IP portfolio governing our lead program,” 180 Life Sciences Corp. CEO Dr. James Woody said in the IP portfolio announcement.

“We are committed to broadening our global patent estate as we continue to expand our internal pipeline and increase patient access to innovative therapies,” Woody added. “Having this most recent patent awarded in the EU is important as it provides validation in the 12 largest countries in the EU, including the UK, and provides the platform to be able to expand clinical trials, commercialization, and partnering efforts throughout Europe. We look forward to achieving additional milestones by the end of 2020.”

On June 2, the company was granted a U.S. patent for the treatment of Dupuytren’s Disease, while on January 14, China granted a patent for synthetic CBD analog (“SCA”): cyclohexenyl compounds, compositions comprising them and uses. In addition, the company filed a patent for SCA bioactive phenolate ionic complexes in the U.S. on April 22 and one for method treating systemic fibrosis disorders using IL-33/TNF specific antibody, in Hong Kong on September 1.

The company’s patent portfolio comprises its own IP and exclusive worldwide licenses, including the Hebrew University, The Kennedy Trust for Rheumatology Research University of Oxford, Oxford University Innovation Limited, and Stanford University.

180 Life Sciences is currently conducting three clinical programs to address the following indications:

• A Phase 2b/3 trial on Dupuytren’s contracture, a fibroid disease of the hand, with expected results in Q1 2021
• A clinical study to be initiated for frozen shoulder with a grant awarded by the National Institute of Health Research, UK
• A current unmet need in the elderly population, especially those who undergo hip replacement – post-operative cognitive delirium disorder and dysfunction

In addition to the current clinical trials, 180 Life Sciences Corp. currently has preclinical discoveries focusing on developing unique, FDA-approved pharmaceutical-grade cannabinoids for arthritis treatment. It is also working with an a7nAChR program initially aimed at the treatment of ulcerative colitis after smoking cessation (https://ibn.fm/dS147).

These studies, along with its expanding IP portfolio, are helping the company position itself as a leader on the anti-inflammatory therapeutics market, which is expected to grow to an estimated $106.1 billion in 2020. The company’s merger with KBL Merger Corp. IV is also expected to strengthen its position, while also enabling it to go public.

An October 12, 2020 announcement by KBL Merger Corp. IV indicated that the Form S-4 that was filed with the SEC regarding the merger is now effective. The company has scheduled a Special Meeting of the Shareholders for October 26, 2020. Once the merger is complete, 180 Life Sciences Corp. will list on NASDAQ under the ticker symbol “ATFN.”

For more information, visit the company’s website at www.180LifeSciences.com.

NOTE TO INVESTORS: The latest news and updates relating to 180 Life Sciences are available in the company’s newsroom at http://ibn.fm/180

• Rritual Mushrooms Inc. is an emerging producer of premium plant-based superfood products designed to help people meet the demands of modern life with style and ease
• The company introduced the wellness and nutraceuticals market to its suite of three mushroom and adaptogen-based elixir powders in September
• Rritual Mushrooms’ products were created to boost immunity, support brain function and help the body fight anxiety
• Rritual is positioned to take advantage of lifestyle trends that have promoted plant-based proteins and reduced meat consumption in recent years, as well as an invigorated interest in immunity-enhancing substances brought on by the worldwide COVID-19 pandemic

Modern lifestyle natural wellness innovator Rritual Mushrooms is growing into a wellness wonder at the heart of a fledgling industry rife with opportunity.

Market analysts at Grand View Research, Inc. reported last year that the overall functional foods market size is projected to reach $275.77 billion by 2025, expanding at a CAGR of 7.9 percent between 2019 and 2025 (https://ibn.fm/YloH9). The demand for nutraceuticals and functional foods is now expected to surge even more than anticipated last year, in part as a response to consumers’ efforts to incorporate more immunity-boosting supplements into their diets as a result of the COVID-19 pandemic, building on an already extant decline in the consumption of meat products as plant-based proteins have gained favor, according to the report.

Functional mushrooms as a segment of that marketplace is new enough that there is no dominant brand in place to lead the category. Rritual Mushrooms has completed development of a suite of premium functional mushroom and adaptogenic elixir powders that were developed by a leading team of scientists, doctors and experts across the wellness industry. The company is exploring an opportunity with an IPO as well.

The initial product line of non-psychoactive wellness elixirs includes a Chaga blend designed to boost immunity, a Lion’s Mane blend designed to support cognitive function and brain health, and a Reishi blend to help the body fight anxiety.

Chaga is found most commonly in birch forests of the Northern Hemisphere (https://ibn.fm/t68DE) and Rritual’s blend pairs it with the adaptogen Eleuthero root (https://ibn.fm/6HhEz) for a product full of bioactive polysaccharides. Adaptogens are natural substances used in herbal remedies because they are thought to increase the resistance of organisms to biological stress (https://ibn.fm/YD6DP).

The Lion’s Mane mushroom is native to North America, Europe and Asia (https://ibn.fm/Izzi0) and Rritual’s blend pairs it with the adaptogen Rhodiola root (https://ibn.fm/7YxOl). The Reishi mushroom is used in traditional Chinese medicine and has been referred to for thousands of years as the mushroom of immortality (https://ibn.fm/rW4F5). Rritual infuses it with the adaptogen Ashwagandha root (https://ibn.fm/0kOe9) for a combination rich in polysaccharides, triterpenes, amino acids and fatty acids that may improve quality of sleep for restless minds.

“The health and wellness benefits of mushrooms and plant-based therapies are backed by decades of scientific research. Rritual’s new line of elixirs embraces that research and provides consumers with an easy way to get a daily dose of the powerful effects,” Rritual President Dr. Mike Hart stated in a September news release announcing the new elixir powder product lines (https://ibn.fm/7Xgnv).

The three formulations will be available in 14-stick packs and in 150-gram containers during the fall, and there will also be a 14-day variety pack that includes all three elixirs. They will be marketed through Rritual’s website and the company’s Amazon store initially, but the company expects to add outlets by building on its team connections with specialty e-commerce channels such as Costco, CVS, Walmart and Vitacost.

The company similarly anticipates building to a brick-and-mortar rollout of its products through team connections with retail outlets such as Wegmans, Fresh Thyme, Whole Foods, Shaw’s, Stop & Shop, Vitamin Shoppe, Target and Kroger submarket Ralphs and Harris Teeter stores.

For more information, visit the company’s website at www.WeAreRritual.com.

NOTE TO INVESTORS: The latest news and updates relating to Rritual Mushrooms are available in the company’s newsroom at http://ibn.fm/Rritual

• Net Element’s reverse merger with EV manufacturer Mullen Technologies expected to close by 4Q2020
• Mullen expects to begin marketing Dragonfly K50, sold in conjunction with JV partner Qiantu Motors from 2Q2021 followed by its own EV SUV in 2022
• Deloitte expects annual EV sales to rise from 2.5mn in 2020 to 31.1mn in 2030, implying 29% CAGR over next ten years
• By 2030, EVs expected to account for 32% of all automobile sales globally, approximately 27% in United States

Net Element (NASDAQ: NETE), a financial technology company which has recently transformed its business model to become a pure-play electric vehicle (“EV”) manufacturer through its merger with privately-held Mullen Technologies Inc., is set to begin marketing its initial vehicle model – the Dragonfly K50 in 2Q2021. The car model, developed in conjunction with China’s Qiantu Motors, will mark Net Element’s initial foray into the North American electric vehicle market—a venture which the company will further reinforce through the launch of its self-manufactured EV SUV, the Mullen MX-5, by the second quarter of 2022.

In an extensive report centered around the battery electric vehicles segment, Deloitte recently forecast that the electric vehicle market is set to reach a tipping point in 2022 – a point of time at which the consultancy expects the cost of ownership for a battery-powered vehicle to be on par with its internal combustion engine-powered counterparts, thereby reducing relative cost differences as a barrier to purchase. With that in mind, it is noteworthy to explore the potential target market size for Net Element as it makes its initial foray into the global EV marketplace (https://ibn.fm/dVlgo).

By 2030, Deloitte anticipates that EV sales could rise from 2.5 million vehicles per annum in 2020 to 31.1 million vehicles per annum—implying a compounded annual growth rate of 29 percent over the next ten years. Moreover, they expect that electric vehicles will secure a market share of 32 percent of total automotive sales by 2030, with battery electric vehicles accounting for 81 percent (25.3 million units) of all new electric vehicles sales and the balance share made up of plug-in hybrid electric vehicles.

However, while electric vehicles are set to grow as a proportion of total automotive sales, their geographic distribution will vary significantly. Deloitte expects EVs to capture a domestic market share of around 48 percent within China by 2030 – almost double that of the United States (27 percent)—with EV sales in Europe accounting for 42 percent of total auto sales in that region.

There are four key factors identified by Deloitte as being key drivers in determining the adoption rate of electric vehicles going forward. First is the shift which is currently being witnessed within consumer sentiment – driving range, a perennial point of contention in the past, has increasingly become less of a concern for potential consumers, with EV driving ranges enjoying a considerable uplift in line with new battery technology breakthroughs. Rather, the primary constraint for future growth may relate to a perceived lack of charging infrastructure, an issue which governments worldwide are seeking to tackle. Germany has recently designated $2.8 billion towards EV charging infrastructure investment while China has recently announced an additional $378 million investment in the technology.

Second is the role of government policy, wherein the widespread adoption of EVs has become a necessary step for governments seeking to achieve their climate-change goals, such as those set by the 2015 Paris Agreement. As a result, a number of governments have offered compelling financial incentives to consumers to make the switch to electric vehicles with other governmental bodies imposing bans, or punitive taxes, on users of older internal-combustion engines to address concerns about toxic air pollution.

The third factor relates to the commercial strategies adopted by various automotive OEMs (original equipment manufacturers). Over the past year, a number of major automotive OEMs have committed to significant upfront investments in developing their EV portfolios, with the likes of Ford announcing that it would invest $11.5 billion on EV models by 2022 while the Volkswagen Group has forecast achieving 1 million EV sales by 2023. More importantly, a greater focus on EVs has led to a greater proliferation of choice available to consumers, with HIS Markit predicting that there will be 130 EV models available to US consumers by 2026, from 43 different automobile manufacturers (https://ibn.fm/esdoB).

Lastly, Deloitte has highlighted the importance of major corporations in helping EV sales transition into the mainstream with the consultancy previously revealing that the sale of new cars to businesses would account for 63 percent of total new car sales across Western Europe by 2021 (https://ibn.fm/qYCbJ).

With traditional company car schemes and car hire operators accounting for a significant proportion of the client wallet for automobile purchases, a greater emphasis on alleviating emissions could result in a significant uplift in EV demand across the corporate spectrum.

Following the completion of the merger between Net Element and Mullen Technologies, the company aims to reach a production threshold of 35,000 vehicles per annum by 2026. With its initial two models already in the works and with the global EV sector set to skyrocket in terms of value over the course of the next decade, Net Element finds itself in the ideal position to capitalize from one of the biggest shifts in consumer behavior the world has ever seen.

For more information, visit the company’s website at www.NetElement.com.

NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE

• AzurRx BioPharma’s lead therapeutic, MS1819, is a recombinant lipase treatment for exocrine pancreatic insufficiency and is currently targeting patients with cystic fibrosis and chronic pancreatitis – an established global market of more than $2 billion
• The company is currently pursuing parallel monotherapy and combination therapy trials, which are anticipated to produce topline data in Q1 2021 and Q2 2021, respectively
• Previously completed clinical trials of MS1819 showed primary and secondary endpoint efficacy, with a positive safety profile
• To fully finance its ongoing Phase 2 trials and being preparations for a pivotal Phase 3 study in 2021, as well as to fund current operations, the company raised gross cash capital of $22.1 million as of July 2020
• AzurRx is determined to develop MS1819 as a safer alternative to porcine pancreatic enzyme replacement therapy, significantly reducing the pill burden of cystic fibrosis patients

AzurRx BioPharma (NASDAQ: AZRX) is a clinical-stage biopharmaceutical company focused on developing treatments for gastrointestinal diseases using recombinant proteins.

The company’s lead drug candidate is MS1819, a recombinant lipase for the treatment of exocrine pancreatic insufficiency (“EPI”) in patients suffering from cystic fibrosis and chronic pancreatitis.

AzurRx has already completed two Phase 2 clinical trials for MS1819 and is currently pursuing approval through parallel monotherapy and combination therapy pathways.

The company was founded in 2014 and is headquartered in New York City, with scientific operations in Langlade, France, and clinical operations in Hayward, California.

MS1819 Clinical Trials

The two current ongoing clinical trials for MS1819 in cystic fibrosis (“CF”) are the Phase 2b Option 2 monotherapy trial and the Phase 2 combination therapy trial, using MS1819 together with porcine pancreatic enzyme replacement therapy (“PERT”), the current standard of care. Pending the Phase 2b trial outcome, the company intends to initiate a Phase 3 trial in cystic fibrosis.

• Phase 2b CF Option 2 Trial– The study was initiated in Q3 2020, using MS1819 doses in enteric capsule form (2240mg and 4480mg). Topline data for the trial is anticipated in Q1 2021.
• Phase 2 CF Combination Trial– The study was initiated in Q4 2019, using daily dose levels of PERT in combination with MS1819 dosages (700mg, 1120mg and 2240mg). Topline data is anticipated in Q2 2021.

These trials are currently addressing the treatment of EPI in patients with cystic fibrosis and chronic pancreatitis – an established global market with an estimated value in excess of $2 billion that has been growing at a CAGR greater than 20% over the past five years.

Results from AzurRx’s Phase 2b Option 2 trial of MS1819 in cystic fibrosis patients demonstrate that the non-porcine MS1819 lipase is well-tolerated by patients, with no significant safety signals observed at the 2240mg daily dose level.

“[W]e have evaluated four different enteric capsules and identified the best suitable formulation for MS1819 that provides gastroprotection of enzyme content and delayed release into the duodenum,” James Sapirstein, President & CEO of AzurRx, stated in a September 2020 news release (https://ibn.fm/27t4W). “Our clinical program continues to advance, and we are determined to develop MS1819 as a safer alternative to porcine pancreatic enzyme replacement therapy, significantly reducing the pill burden of cystic fibrosis patients.”

Financial Highlights

As of July 2020, AzurRx had raised gross cash capital of $22.1 million, including $15.2 million from Series B convertible preferred stock and warrants in July 2020 and $6.9 million from convertible promissory notes and warrants in December 2019 and January 2020. Notably, AzurRx solidified its financial position and created an effectively debt-free balance sheet by exchanging substantially all of its outstanding convertible notes into the Series B convertible preferred stock financing.

The company secured an additional $2.5 million in French Research Tax Credits, received in 2020, for the years 2017-2019 (https://ibn.fm/Qxk7O).

In a letter to shareholder, Sapirstein noted that ensuring the company maintains sufficient capital to support its business operations has been a key focus. He further stated that the company is in “a financially secure position” to complete its two Phase 2 MS1819 clinical trial programs and to begin preparations in 2021 for a pivotal Phase 3 study.

The company has no current plans to access additional financing, as it believes it has enough cash to fund existing operational and clinical objectives through Q3 2021.

Management Team

James Sapirstein is the President and CEO of AzurRx BioPharma. He was previously the CEO and a board member for ContraVir Pharmaceuticals Inc., which is now known as Hepion Pharmaceuticals Inc. (NASDAQ: HEPA). Mr. Sapirstein has almost 36 years of experience in the pharmaceutical industry, with expertise in drug development and commercialization. He currently serves on the Emerging Companies and Health Section boards of the BIO (Biotechnology Innovation Organization) and is Chairman Emeritus of BioNJ. He earned his Bachelor’s degree in Pharmacy from Rutgers University and has an MBA in management from Fairleigh Dickinson University.

Daniel Schneiderman is the Chief Financial Officer of AzurRx. He previously served as the CFO of Biophytis SA and its U.S. subsidiary, Biophytis, Inc., clinical-stage biotechnology companies focused on the development of pharmaceutical candidates for age-related diseases. He was appointed to the AzurRx position in January 2020, bringing to the team over 18 years of experience in capital markets and finance operations. Mr. Schneiderman holds a degree in economics from Tulane University.

James Pennington, M.D., is the Chief Medical Officer of AzurRx. Before joining the team, he was the Chief Medical Officer and Senior Clinical Fellow for 11 years at Anthera Pharmaceuticals. Before becoming a part of the biotech industry, Dr. Pennington was on the Medical Faculty of Harvard Medical School for 10 years. He received his medical degree from Oregon Health & Science University.

Martin Krusin is the Senior Vice President for Corporate Development at AzurRx. He has 20 years of experience in business development, strategic marketing, financing and operations in the health care, financial services and consulting sectors. Before joining AzurRx, he was the VP for Business Development at FluoroPharma Medical Inc. Mr. Krusin received his MBA from Columbia Business School in finance and marketing, an MPhil. in political economy from Oxford University and a BA in international relations from Swarthmore College.

Dinesh Srinivasan, Ph.D., is the Vice President for Translational Research at AzurRx. He has over 15 years of experience leading drug discovery and development in the pharmaceutical industry. He began his career as a post-doctorate fellow at Roche Palo Alto. Dr. Srinivasan received his MSc in Biotechnology from the University of Mumbai, India, and a Ph.D. in Pharmacology and Toxicology from the University of Arizona – Tucson.

Ted Stover is the Product Development Director at AzurRx. He joined the company in 2020 to oversee CMC and Project Management. Before joining AzurRx, he spent 20 years focused on manufacturing operations and analytical method development for all stages of pharmaceutical drug development. Mr. Stover earned his MBA from the University of Florida.

For more information, visit the company’s website at www.AzurRx.com.

NOTE TO INVESTORS: The latest news and updates relating to AZRX are available in the company’s newsroom at https://ibn.fm/AZRX

• Scientific research suggests some mushrooms can provide mental benefits, anti-tumor effects, improved immune function, anti-viral properties and detoxification
• “Psychedelic” varieties currently being studied for depression, anxiety, PTSD, bipolar disorder, Alzheimer’s disease, addiction
• Pure Extracts is expanding into functional mushroom market; Company is currently licensed by Health Canada to buy, sell, produce cannabis products

Mushrooms have been used for thousands of years in Eastern medicine to combat illness, increase mental cognition and improve digestion. As their popularity continues to increase worldwide, Pure Extract Technologies, a privately held, plant-based, Canadian extraction company is leveraging the growing acceptance by mainstream science and the general public to further develop and commercialize functional and medicinal mushroom products on a global scale.

Described by world-renowned mycologist Paul Stamets as “nature’s miniature pharmaceutical factories” (https://ibn.fm/wR7Np), mushrooms have been studied extensively by mainstream science for their various health benefits. Current research has suggested that some varieties such as Hericum Erinaceus or “lion’s mane” can help improve memory (https://ibn.fm/HVXE7) and mental cognition (https://ibn.fm/XIilg) in addition to improving the symptoms of depression (https://ibn.fm/e6nwv).

“Psychedelic” varieties such as psilocybin – or “magic mushrooms” – are increasingly being studied for possible medical benefits in treating depression, anxiety, PTSD, bipolar disorder, Alzheimer’s disease and addiction. UC Berkeley recently unveiled the UC Berkeley Center for the Science of Psychedelics (https://ibn.fm/Aj06x) with the aim of studying psilocybin for mental benefits in addition to other properties that include anti-tumor effects, improved immune function, anti-viral properties and detoxification. The FDA granted psychedelics breakthrough therapy status for treatment-resistant depression in 2020 with approvals expected in 2021 (https://ibn.fm/cgSa5), making therapy options possible in the very near future.

Pure Extracts has a solid position in the industry to partner with organizations in the sourcing, production and development of functional mushroom products and to advance its mushroom extraction techniques in order to produce, consistent, ultra-pure, compounds. Besides being licensed by Health Canada to buy, sell and produce cannabis products, the Company’s 10,000 square foot facility is designed for EU-GMP certification, which will allow Pure Extracts to sell its products throughout the world.

Along with mushrooms, Pure Extracts’ business model comprises three additional verticals that include in-house brand marketing, raw cannabis & hemp conversion into marketable products and white labeling services that supply products to other Licenced Producers. In addition to signing NDAs to explore joint development endeavors, the Company also has an advisory agreement with Dr. Alexander MacGregor, the founder of the Toronto Institute of Pharmaceutical Technology (“TIPT”), a provider of clinical trial services through its fully compliant Health Canada licensed Good Manufacturing Practice (“GMP”) manufacturing and testing facility.

The psychedelic and functional mushroom industry is currently in a transitory phase whereby dry biomass is being converted to extracts. This changing landscape is positioning Pure Extracts to emerge as a leader in the industry, allowing the Company to benefit from the growing acceptance of mushroom extracts by the scientific community and general public.

For more information, visit the company’s website at www.PureExtractsCorp.com.

NOTE TO INVESTORS: The latest news and updates relating to Pure Extract Technologies are available in the company’s newsroom at http://ibn.fm/Pure

• 180 Life Sciences is a clinical-stage biotechnology company developing anti-tumor necrosis factor (“TNF”) therapies to treat a variety of inflammatory conditions.
• Phase 2b/3 clinical trials on fibrosis and inflammation-causing TNF irregularity are currently underway with first results expected in 2021
• The company is to be acquired by a SPAC (NASDAQ: KBLM) and will be listed on the Nasdaq Capital Market under ticker symbol ATNF

Pioneering biotech company, 180 Life Sciences Corp. is bringing hope to sufferers of Dupuytren’s Disease and other inflammatory conditions caused by an impaired immune system. Currently, the company has three major programs underway focused on therapies for separate areas of inflammation. These programs are headed by a team of renowned scientists who have already developed blockbuster drugs, discovered an entire drug class and made ground-breaking discoveries in their fields. The programs are exploring therapies expected to bring relief to those afflicted by a variety of TNF conditions, including ‘frozen shoulder,’ Dupuytren disease, postoperative cognitive dysfunction (“POCD”), and non-alcoholic fatty liver disease (“NAFLD”).

TNF is one of those good things, a surfeit of which, can turn out bad. A protein released by white blood cells to mobilize the body’s defenses, i.e. the immune system, TNF plays an essential role in fighting off diseases of many kinds. TNF triggers inflammation to create an environment conducive to healing infected or damaged tissue. Typically, this state of affairs continues just long enough to repair damage to the cells. Regular or acute inflammation lasts for a short time, going away within hours or days. But sometimes, TNF sets the inflammatory process in motion when there’s no threat, a situation that can persist for a lengthy period, leading to what is known as chronic inflammation. Chronic inflammation opens a Pandora box of ailments. Conditions linked to chronic inflammation include Alzheimer’s disease, asthma, cancer, diabetes, heart disease, and a number of others that 180 Life Sciences Corp. is currently conducting research on.

The Company’s Three Research Programs Are: 

The fibrosis and anti-TNF program, based at the Kennedy Institute, University of Oxford, U.K.

The program is addressing four critical areas of inflammation:

• Dupuytren disease, a debilitating condition that causes the fingers to irreversibly curl toward the palm. Dupuytren disease affects some 15 million Americans over the age of 35, about 5 percent of the U.S. population, according to a 2014 CDC study (https://ibn.fm/1G2pt). Top line data from Phase 2b/3 trials are expected by Q4 2021.
• Frozen shoulder is a musculoskeletal impairment that makes it difficult or impossible to move the shoulders (https://ibn.fm/UBzDz). Phase 2b trials are set to begin Q3 2021.
• POCD affects patients, particularly older ones, after surgical operations. In one study, roughly 12 percent of patients over age 60 had postoperative cognitive dysfunction, three months after surgery (https://ibn.fm/fuIDp). Phase 2 trials in POCD are anticipated to commence in Q4 2021.
• Nonalcoholic steatohepatitis (“NASH”) is a type of non-alcoholic fatty liver disease, aggravated by hepatitis (https://ibn.fm/hxhA5). Preclinical studies in liver fibrosis and NASH are set to begin in late 2020.

 Synthetic CBD Analogs (“SCAs”) – Preclinical – based at the Hebrew University of Jerusalem

The SCA program is based at the Hebrew University of Jerusalem, in Israel, with additional research and trials at the Kennedy Institute, at the University of Oxford.

180 Life Sciences is aiming to develop SCAs that are safe and non-psychoactive and formulated to improve efficacy, as an alternative to naturally occurring cannabidiol (“CBD”). The program is led by a team that includes Professor Raphael Mechoulam, the first to ‘discover’ tetrahydrocannabinol (“THC”). 180 Life Sciences is aiming to create a compound that is 99.5% pure CBD, which will drastically improve medical prescriptive precision. The program is also exploring a drug delivery platform—ProNanoLipospheres (“PNL”)—to improve bioavailability.

The α7nAChR program, based at Stanford University in the US.

The α7nAChR program is searching for an effective therapy to treat ulcerative colitis in ex-smokers. α7nAChR is a nicotine receptor and is a central factor in the body’s method of controlling inflammation.

180 Life Sciences Corp. is to be acquired by KBL Merger Corp. IV (NASDAQ: KBLM), a special purpose acquisition corporation (“SPAC”), after which the combined entity will be listed on Nasdaq under the ticker symbol: ATNF.

For more information, visit the companies’ websites at www.180LifeSciences.com and www.KBLMerger.com.

NOTE TO INVESTORS: The latest news and updates relating to 180 Life Sciences are available in the company’s newsroom at http://ibn.fm/180

• Gage Cannabis is one of the leading vertically integrated operators in the cannabis industry
• Its current focus is the Michigan market, which is valued at an estimated $3 billion and recorded $109 million in cannabis sales in August 2020
• The company currently has five dispensaries across Michigan, with the potential to have 90% of the state’s population within a one-hour drive as it continues to expand its dispensary network, offering a wide range of products and even home delivery options
• Gage is planning to expand its cultivation site in Monitor Township and open an additional 3-4 provisioning centers (dispensaries) in Michigan by the end of 2020. It has detailed plans to open 10+ other locations in 2021, with a goal of operating 20-25 locations by year-end
• The company intends to go public during Q1 2021 through a Canadian listing

Gage Cannabis Co. is a leading vertically integrated operator in the cannabis industry led by the former CEO and Chairman of Canopy Growth Corp. (TSX: WEED) (NYSE: CGC), Bruce Linton. The company is currently focused exclusively on the Michigan market, working with the declared goal of building the fastest growing cannabis brand in the state.

One of the reasons Gage targeted Michigan as its location of choice is due to the state’s fast-growing legal cannabis market and consumption habits amongst consumers. In 2018, Michigan became the 10th state to legalize the recreational use of cannabis. In light of such favorable market dynamics, Gage opened its first medical provisioning center (dispensary) shortly after, in 2019. The company now has 13 medical or adult-use locations open or in the works, with an additional 10+ planned to open during 2021. Gage’s current portfolio features 19 Class C cultivation licenses across four cultivation assets and three processing licenses.

Current Asset and Brand Portfolio

Gage’s current brand portfolio consists of five unique product classes: flower products, edibles, hardware, concentrates and vape pens/disposables.

The company has already created relationships with a wealth of exclusive brand partners, including some of the most illustrious brands in the country. Notably, Gage’s exclusive partnership with Cookies, one of the most well-respected cannabis lifestyle brands in the United States, illustrates Gage’s operational prowess in cultivating quality flower and operating its branded retail stores. Today, Gage operates the 8 Mile Cookies location in Detroit, Michigan, which is one of the top performing dispensaries in the state despite being a medical-only dispensary.

Committed to providing only products of the highest quality, Gage uses small-batch, indoor-grown, high-quality cannabis that is hand-trimmed and hung to dry. Gage ensures that every gram of cannabis sold is consistently of the highest quality and offers a superb customer experience.

The company currently has four cultivation assets, located at Monitor Township (expansion planned), Harrison Township, Warren and Lenox Township, and it operates one processing facility located in Harrison Township, with plans to operate another two processing facilities in Monitor Township and Lenox.

Its operating dispensaries include Ferndale (adult-use), Adrian (adult-use), Lansing (adult-use), Traverse City (medical) and Detroit (Cookies establishment – medical). Additional dispensaries coming soon include Battle Creek (adult-use), Kalamazoo #1 (adult-use), Bay City (adult-use), Grand Rapids (medical), Buena Vista (medical), Center Line (medical), Kalamazoo #2 (Cookies establishment – adult-use) and Lenox Township.

The company offers delivery within a one-hour radius of its dispensaries – a footprint that encompasses an estimated 90% of Michigan’s population.

Financial Highlights

In Q1 2020, the company recorded sales of $5.8 million. This number grew substantially in Q2, reaching $11.9 million. Management estimates Q3 sales at roughly $13.1 million, marking a 157% growth in sales from January to September 2020, within a year of operations.

This increase reflects the company’s significant expansion efforts since the beginning of 2020. Starting with only 200 pounds per month, Gage now estimates its monthly cultivation capacity at more than 1,000 pounds of product.

This increase in cultivation capacity has helped Gage promote rapid growth through its retail locations. Average basket size, which refers to the retail value of each consumer transaction, is estimated at $85 for the Michigan cannabis industry. As of August 2020, Gage has an average basket size of $180 at its locations, more than double the state average.

Michigan Medical and Adult-Use Marijuana Market Size

The recreational marijuana market in Michigan is expected to rival the numbers currently seen in Nevada and Colorado by 2023. Approximately 3% of Michigan’s residents are medical marijuana cardholders – a much higher rate than many other medical markets – leading Brightfield to predict that the state’s recreational market could triple in size between 2020 and 2023 (https://ibn.fm/9cO0h).

Michigan saw a steady increase in sales for the first three quarters of 2020, with a recorded growth rate of 502% from January to August. In August alone, $109 million in cannabis sales occurred within the state. The Marijuana Regulatory Agency estimates that the potential market size for cannabis within the state is around $3 billion.

Neither Gage nor the state has seen any significant drop in sales in the wake of the COVID-19 pandemic. On the contrary, demand has continued to grow steadily, as dispensaries were among the few businesses deemed essential and permitted to operate throughout the shutdown. All Gage and Cookies locations have remained operational, offering curbside pickup.

Plans to Go Public in Q1 2021

Gage Cannabis is currently planning a Canadian listing for the first quarter of 2021 (https://ibn.fm/V73dL). Additionally, Gage intends to launch a Regulation A+ offering of up to 28,571,400 subordinate voting shares priced at $1.75 per share, for gross proceeds of up to $50 million before offering expenses, assuming all shares are sold (https://ibn.fm/FteTi), but it has not yet made an announcement regarding the launch of that financing.

A Regulation A+ offering, also called a mini-IPO, allows companies to raise capital without actually listing shares on a stock exchange.

Management Team

Bruce Linton is the Executive Chairman of Gage Cannabis. He joined the company in 2019 and is the founder and former CEO and Chairman of Canopy Growth Corp. (TSX: WEED) (NYSE: CGC). Mr. Linton has extensive executive and board experience in a variety of industries and is considered to be a pioneer in the global cannabis industry. He provides incomparable support to the company’s strategic and capital markets efforts.

Michael Hermiz is the Co-Founder and Director of Gage Cannabis, and he is also the founder of a federally licensed producer in Canada. Mr. Hermiz has had great success in various industries, including real estate, mortgage, telecommunications, import, export and many others.

Fabian Monaco is Gage’s President and Director. He previously worked at XIB Financial Inc., GMP Securities L.P. and Scotiabank. In addition to his vast investment banking and legal background, Mr. Monaco has 10+ years of capital markets experience. His advisory experience in the cannabis industry is also extensive.

Dr. Rana Harb is a Director of Gage Cannabis. She has 25+ years of experience handling research, compliance, quality assurance and regulatory affairs. A significant portion of her regulatory and compliance history is in the cannabis industry. Dr. Harb has worked for many pharmaceutical companies worldwide, dealing with regulatory agencies such as the FDA, the EMA and Health Canada.

Mike Finos is the President (USA) and a Director of Gage Cannabis. He is the former COO of Horizon Global, the world’s number one towing accessories company. He has experience with start-ups, M&A and business integration with both private and publicly traded companies. With 20+ years of operational leadership expertise, Mr. Finos has extensive knowledge relating to supply chain logistics, manufacturing and information technology.

David Watza is the Chief Financial Officer of Gage Cannabis. He is an experienced C-Suite executive and former CFO and board member of Perceptron Inc. (NASDAQ: PRCP). Mr. Watza has 30+ years of experience in finance, accounting, and operations, including time as a public company CFO.

For more information, visit the company’s website at www.GageUSA.com.

NOTE TO INVESTORS: The latest news and updates relating to Gage Cannabis Co. are available in the company’s newsroom at https://ibn.fm/GAGE

• CNS Pharmaceuticals is a pre-clinical-stage developer of novel brain cancer-fighting drugs, including its lead candidate Berubicin
• The company is working to build on promising results from a 2006 Phase I trial, which provided 44 percent of its limited patient pool with clinically significant improvement in disease stability and one patient with a durable complete response (no evidence of any tumor remaining) for over 14 years
• CNS Pharmaceuticals expects to launch a pivotal Phase II trial of Berubicin at the beginning of next year and has been assembling a team of partner companies help with the trial
• CNS recently announced that the partner contracted to manufacture the Active Pharmaceutical Ingredient (API) for Berubicin has received a Certificate of Analysis necessary for the drug substance to be used in the clinical trial
• The company is also preparing in collaboration with its sub licensed partner, WPD Pharmaceuticals, for the first Phase I pediatric trial of Berubicin
• CNS is continuing the pre-clinical development of the company’s second promising cancer-fighting drug candidate, WP1244

Houston, Texas-based biopharmaceutical company CNS Pharmaceuticals (NASDAQ: CNSP) continues to achieve milestones in its drive to defeat glioblastoma multiforme (“GBM”), a relentless type of brain tumor known for very rapid progression and very short survival periods in nearly all patients once they’ve been diagnosed.

“If you get glioblastoma, the sad fact is you’re going to die from that disease,” CNS Pharmaceuticals CEO John Climaco told attendees at the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit in September during a discussion about the aggressive brain tumors and the company’s investment potential as it advances tumor-fighting drug candidates (https://ibn.fm/t13u4). “We believe that [our drug candidate] Berubicin could potentially be a game-changer,” Climaco continued.

CNS Pharmaceuticals is in the process of developing the testing infrastructure for its its lead novel drug candidate, an anthracycline called Berubicin. The company announced at the beginning of this month that a partner company contracted to manufacture Berubicin active pharma ingredient (API) received a Certificate of Analysis, clearing it for use in the production of the Berubicin drug product in preparation for use in the clinical trial (https://ibn.fm/N2AMO).

Berubicin has shown the potential to stand out from other tumor-killing anthracyclines because it has the ability to cross the human body’s Blood-Brain Barrier (“BBB”) and sequester itself preferentially in tumor tissue, the company’s website states (https://ibn.fm/F8SNr).

The blood-brain barrier is a wall of specialized endothelial cells that separate the blood circulatory system from the brain and kick out recognized toxins such as anthracyclines before they can affect the body’s central nervous system. “That’s why anthracyclines kill glioblastoma cells in test tubes but don’t affect glioblastoma tumors when given to people,” the website states.

In a limited Phase I trial conducted in 2006, Berubicin showed evidence of prompting improved survival in a patient population that has a median survival rate of only 14.6 months from the date of the disease’s diagnosis, and one of the trial’s patients remains cancer-free as of the last assessment on Feb. 20 of this year, approximately 14 years later, Climaco said.

Tumors are generally first removed surgically to the extent possible, but then tend to recur.

The pharmaceutical temozolomide has been shown useful as a first-line response in temporarily extending the lifespan of fewer than 40 percent of GBM patients with a specific genetic variation, but even nearly all of those patients develop resistance to temozolomide within about a year’s time and CNS hopes to present Berubicin as a second-line therapy.

The contracts with drug manufacturers Pii and BSP will provide drug product for CNS’s Phase II clinical trial as well as two trials in Poland to be conducted by sub licensee partner, WPD Pharmaceuticals, including a Phase 2 adult trial and a first-ever Phase 1 pediatric trial, both of which are expected to launch during Q1 of 2021. The company recently announced an agreement with medical imaging company Image Analysis Group (“IAG”) to evaluate the upcoming clinical trial imaging results in real time using AI-driven technology (https://ibn.fm/TlKhu).

CNS Pharmaceuticals is also conducting pre-clinical development on a drug candidate known as WP1244 that has been shown in preclinical studies to have a DNA-binding agent 500 times more potent than chemotherapy drug daunorubicin in stopping tumor cell expansion.

For more information, visit the company’s website at www.CNSPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to CNSP are available in the company’s newsroom at https://ibn.fm/CNSP

• Predictive Oncology’s CEO Carl Schwartz published open letter to company’s shareholders
• Schwartz elaborated on various developments within each of POAI’s divisions, has reiterated his optimism on company’s operations going forward
• CEO also revealed that company’s revenue trends have stabilized and are now on upward trend with cash burn beginning to decline
• Company also revealed its ability to access over $10 million in undrawn equity lines of credit

Carl Schwartz, the CEO of Predictive Oncology (NASDAQ: POAI), a knowledge-driven medicine company that focuses on applying data and artificial intelligence (“AI”) to cancer personalized medicine and drug discovery, has recently published a letter to the company’s shareholders elaborating on the company’s latest achievements as well as their prospects going forward (https://ibn.fm/L1mA8).

Within his letter, Schwartz addressed the latest developments within each of the company’s business verticals and stressed that in spite of the tumultuous global economy, Predictive Oncology was witnessing both stable and rising revenues along with declining levels of cash burns. Schwartz also detailed that the company’s balance sheet was still quite resilient with access to over $10 million in equity capital able to be drawn down from their existing lines of credit.

The letter also elaborated on the company’s various operational divisions, commencing with its Skyline Medical division. Skyline Medical is charged with the manufacture and sale of POAI’s groundbreaking, FDA-cleared STREAMWAY System – providing medical facilities with a direct-to-drain fluid disposal system intended to automate the collection, measurement and disposal of waste fluids during medical procedures. POAI revealed that the division was now self-supporting from a cash standpoint, with sales of disposables used on Streamway machines more than covering the business’ operating expenses. Separately, the company explained that the continued sale of new Streamway devices would also add to the future potential revenues which the company could derive from the sale of disposables.

Schwartz also touched upon the company’s Helomics division, which seeks to assist pharmaceutical, diagnostic and biotech industries develop predictive models of how tumors could respond to drugs. Helomics recently launched a restructured clinical test offering to clinicians for ovarian cancer, which has been very well received by oncologists. The company expects that this new test, coupled with Helomic’s existing product range, will be revenue generating by year end and should be able to cover the bulk of the division’s operating expenses going forward.

Elsewhere, Predictive Oncology also provided an update on subsidiary TumorGenesis, which specializes in the field of ovarian cancer, creating laboratory-grown cancer cells which can then be used to assist researchers and clinicians identify which cancer cells bind to specific biomarkers. TumorGenesis will be introducing its Ovarian Cell Line Media at the upcoming BIO-Europe Conference, which will allow researchers to isolate and successfully culture ovarian cancer cells that have not previously been cultured. Separately, the division is also in the process of registering with the US government as a contractor for developmental work in cancer cell capture and screening of compounds for the prevention and treatment of cancer.

Finally, Schwartz discussed the ongoing progress at Soluble Biotech, a subsidiary which seeks to provide optimized FDA-approved formulations for vaccines, antibodies and other protein therapeutics in a faster and lower cost basis to its customers. Having already secured a sizable contract, POAI’s management have expressed their confidence in the business generating revenues by the end of 2020.

With a number of ongoing positive developments taking place across Predictive Oncology’s various businesses, the company’s CEO has reaffirmed his positive stance on POAI’s corporate prospects, expressing his firm belief in the fourth quarter’s being “eventful”.

For more information about the company, visit www.Predictive-Oncology.com.

NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI