Valo Health and Khosla Ventures Acquisition Co. Mutually Agree to Terminate Business Combination Agreement

BOSTON and MEN­LO PARK, Calif., Nov. 15, 2021 /​PRNewswire/​— Valo Health, LLC (“Valo”), the tech­nol­o­gy com­pa­ny using human-cen­tric data and arti­fi­cial intel­li­gence (AI) pow­ered com­pu­ta­tion to trans­form the drug dis­cov­ery and devel­op­ment process and Khosla Ven­tures Acqui­si­tion Co. (Nas­daq: KVSA) (“KVSA”), a spe­cial pur­pose acqui­si­tion com­pa­ny spon­sored by affil­i­ates of Khosla Ven­tures, LLC, announced today that both com­pa­nies have mutu­al­ly agreed to ter­mi­nate their pre­vi­ous­ly announced agree­ment and plan of merg­er (the ​“Busi­ness Com­bi­na­tion Agree­ment”), effec­tive immediately.

Both par­ties decid­ed to ter­mi­nate the Busi­ness Com­bi­na­tion based on cur­rent mar­ket con­di­tions, par­tic­u­lar­ly in the biotech­nol­o­gy area.

“We formed KVSA to merge with com­pa­nies that are impact­ful to the world as we recent­ly did with KVSB when we merged with Nextdoor,” said Samir Kaul, Found­ing Part­ner and Man­ag­ing Direc­tor at Khosla Ven­tures. ​“Valo Health is a strong com­pa­ny and we wish them con­tin­ued suc­cess as they move for­ward on a very sol­id plan. We will con­tin­ue to look for oth­er high-impact tar­gets across a range of indus­tries to deliv­er max­i­mum share­hold­er value.”

“We made this deci­sion to ensure that Valo con­tin­ues to be in an opti­mal posi­tion of strength to pur­sue our growth strat­e­gy and to deliv­er on our mis­sion to trans­form drug dis­cov­ery and devel­op­ment,” said David Berry, Founder & CEO. ​“Our team has worked hard to ensure that all of the fun­da­men­tals of our busi­ness are strong. As we move clos­er to launch­ing our first Phase 2 tri­al this year, our sec­ond Phase 2 tri­al in the first half of next year, and con­tin­ue to aggres­sive­ly build out the addi­tion­al unique capa­bil­i­ties of our plat­form, we have tremen­dous momen­tum going into 2022 and beyond.”

About Valo Health

Valo Health, LLC (“Valo”) is a tech­nol­o­gy com­pa­ny built to trans­form the drug dis­cov­ery and devel­op­ment process using human-cen­tric data and arti­fi­cial intel­li­gence-dri­ven com­pu­ta­tion. As a dig­i­tal­ly native com­pa­ny, Valo aims to ful­ly inte­grate human-cen­tric data across the entire drug devel­op­ment life cycle into a sin­gle uni­fied archi­tec­ture, there­by accel­er­at­ing the dis­cov­ery and devel­op­ment of life-chang­ing drugs while simul­ta­ne­ous­ly reduc­ing costs, time, and fail­ure rates. The com­pa­ny’s Opal Com­pu­ta­tion­al Plat­form^™ is an inte­grat­ed set of capa­bil­i­ties designed to trans­form data into valu­able insights that may accel­er­ate dis­cov­er­ies and enable Valo to advance a robust pipeline of pro­grams across car­dio­vas­cu­lar meta­bol­ic renal, oncol­o­gy, and neu­rode­gen­er­a­tive dis­ease. Found­ed by Flag­ship Pio­neer­ing and head­quar­tered in Boston, MA, Valo also has offices in Lex­ing­ton, MA, San Fran­cis­co, CA, Prince­ton, NJ, and Bran­ford, CT. To learn more, vis­it www​.val​o​health​.com

About KVSA

KVSA is a spe­cial pur­pose acqui­si­tion com­pa­ny spon­sored by affil­i­ates of Khosla Ven­tures. Khosla Ven­tures man­ages a series of ven­ture cap­i­tal funds that make ear­ly-stage ven­ture cap­i­tal invest­ments and pro­vide strate­gic advice to entre­pre­neurs build­ing com­pa­nies with last­ing sig­nif­i­cance. The firm was found­ed in 2004 by Vin­od Khosla, co-founder of Sun Microsys­tems. Khosla Ven­tures has over $15 bil­lion dol­lars of assets under man­age­ment and focus­es on a broad range of sec­tors includ­ing arti­fi­cial intel­li­gence, agriculture/​food, con­sumer, enter­prise, finan­cial ser­vices, health, space, sus­tain­able ener­gy, robot­ics, VR/AR and 3D print­ing. Col­lec­tive­ly, Khosla Ven­tures port­fo­lio of invest­ments has cre­at­ed near­ly half a tril­lion dol­lars in mar­ket value.