June 11, 2021 -- Valo Health and Khosla Ventures Acquisition (KVAC) plan to merge to form a publicly traded company with an estimated pro forma market value of approximately $2.8 billion.
Valo is building a fully integrated, end-to-end, artificial intelligence-driven drug discovery platform that aims to improve the success rates for the discovery, development, and approval of new drugs, the companies stated. The Opal Computational Platform, based on longitudinal and omics data, allows information to be shared in parallel at every stage of the drug discovery and development process. Valo's pipeline includes two clinical stage assets and 15 prioritized preclinical assets across cardiovascular, metabolic, and renal; neurodegeneration; and oncology fields.
KVAC is a special purpose acquisition company founded by affiliates of Khosla Ventures. The transaction is anticipated to close in the third quarter of 2021 and is subject to the approval of KVAC's stockholders and the satisfaction or waiver of other customary closing conditions, according to the companies.
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