Valo Health Welcomes Leading Life Sciences and Technology Expert Judy Lewent to Board of Directors

Former Merck CFO brings wealth of finance, technology, and pharma experience

BOSTON, MA (June 24, 2021) — Valo Health, LLC (“Valo”), the tech­nol­o­gy com­pa­ny built to trans­form the drug dis­cov­ery and devel­op­ment process using human-cen­tric data and arti­fi­cial intel­li­gence (“AI”), today announced the appoint­ment of Judy Lewent to its Board of Direc­tors and as chair of its Audit Com­mit­tee. Lewent, a high­ly regard­ed exec­u­tive with over 30-years of exten­sive expe­ri­ence in the glob­al phar­ma­ceu­ti­cal and tech­nol­o­gy indus­tries, was most recent­ly a Non-Exec­u­tive Inde­pen­dent Direc­tor of Glax­o­SmithK­line and is the for­mer Chief Finan­cial Offi­cer of Mer­ck & Co., Inc., where she was pri­mar­i­ly respon­si­ble for finance, cor­po­rate devel­op­ment and strate­gic planning.

Judy brings unpar­al­leled expe­ri­ence with­in the finance, tech­nol­o­gy and phar­ma­ceu­ti­cal realms. We are thrilled to bring aboard such a well-respect­ed leader,” said David Berry, CEO of Valo Health. Her deep expe­ri­ence across both tech and life sci­ence speaks to Valo’s ethos, with that rare abil­i­ty to oper­ate across both fields, which we believe to be essen­tial to trans­form­ing drug dis­cov­ery and devel­op­ment. Her acute busi­ness acu­men, strate­gic vision, and abil­i­ty to inte­grate eco­nom­ics, finance, sta­tis­tics, and com­put­er sci­ence make her a tremen­dous asset to our grow­ing com­pa­ny. I great­ly look for­ward to work­ing with her and hav­ing the ben­e­fit of her insights.”

I’m pleased to be join­ing Valo at such a crit­i­cal junc­ture, as they hit their stride in build­ing a plat­form that is well posi­tioned to accel­er­ate the dis­cov­ery and devel­op­ment of new drugs,” Lewent said. The com­bi­na­tion of Valo’s lead­er­ship, com­pute capa­bil­i­ties, and data ana­lyt­ics are a tes­ta­ment to why it is crit­i­cal that we invest in new ways to trans­form the lega­cy approach in the pur­suit of achiev­ing bet­ter out­comes on behalf of patients.”

Over her 27 years at Mer­ck, Lewent was respon­si­ble for world­wide finance, cor­po­rate devel­op­ment, licens­ing, and strate­gic plan­ning. She also led the John­son & John­son, Mer­ck Con­sumer Phar­ma­ceu­ti­cals, and Mer­i­al (Mer­ck and Sanofi-Aven­tis) joint ven­ture rela­tion­ships, as well as Merck’s rela­tion­ships with Astra and DuPont. In addi­tion, she served as chair of Mer­ck Cap­i­tal Ven­tures and was a mem­ber of Merck’s exec­u­tive committee.

Lewent is cur­rent­ly on the board of direc­tors of Motoro­la Solu­tions, and she has pre­vi­ous­ly served on the boards of biotech and tech author­i­ties Ther­mo Fish­er Sci­en­tif­ic and Dell. In addi­tion, she is a life mem­ber of the MIT Cor­po­ra­tion and a mem­ber of the Amer­i­can Acad­e­my of Arts & Sci­ences. In 2000, CFO Mag­a­zine pre­sent­ed her with the CFO Excel­lence Award in the Rev­enue Growth cat­e­go­ry.

Lewent earned a B.S. in eco­nom­ics from Gouch­er Col­lege in 1970 and an M.S. in man­age­ment from MIT’s Sloan School of Man­age­ment in 1972. She received an hon­orary doc­tor­ate of humane let­ters from Gouch­er Col­lege in 1998, an hon­orary doc­tor of engi­neer­ing from Stevens Insti­tute of Tech­nol­o­gy in 2000, and an hon­orary doc­tor­ate of sci­ence from the New Jer­sey Insti­tute of Tech­nol­o­gy in 2004.

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 (“AI”) dri­ven com­pu­ta­tion. As a dig­i­tal­ly native com­pa­ny, Valo aims to ful­ly inte­grate human-cen­tric data across the entire drug devel­op­ment life­cy­cle into a sin­gle uni­fied archi­tec­ture, there­by accel­er­at­ing the dis­cov­ery and devel­op­ment of life-chang­ing drugs while simul­ta­ne­ous­ly reduc­ing the cost, time, and fail­ure rate. The com­pa­ny’s Opal Com­pu­ta­tion­al Plat­form™ con­sists of 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 in Bran­ford, CT. To learn more, vis­it www​.val​o​health​.com.

Valo Con­tact Infor­ma­tion
Investor Con­tact: Graeme Bell, CFO, gbell@​valohealth.​com

Addi­tion­al Infor­ma­tion and Where to Find It

This doc­u­ment relates to a pro­posed trans­ac­tion between Valo and Khosla Ven­tures Acqui­si­tion Co. (“KVAC”). This doc­u­ment does not con­sti­tute an offer to sell or exchange, or the solic­i­ta­tion of an offer to buy or exchange, any secu­ri­ties, nor shall there be any sale of secu­ri­ties in any juris­dic­tion in which such offer, sale or exchange would be unlaw­ful pri­or to reg­is­tra­tion or qual­i­fi­ca­tion under the secu­ri­ties laws of any such juris­dic­tion. KVAC intends to file a reg­is­tra­tion state­ment on Form S‑4 with the SEC, which will include a doc­u­ment that serves as a prospec­tus and proxy state­ment of KVAC, referred to as a proxy statement/​prospectus. A final proxy statement/​prospectus will be sent to all KVAC share­hold­ers. KVAC also will file oth­er doc­u­ments regard­ing the pro­posed trans­ac­tion with the SEC. Before mak­ing any vot­ing deci­sion, investors and secu­ri­ty hold­ers of KVAC are urged to read the reg­is­tra­tion state­ment, the proxy statement/​prospectus and all oth­er rel­e­vant doc­u­ments filed or that will be filed with the SEC in con­nec­tion with the pro­posed trans­ac­tion as they become avail­able because they will con­tain impor­tant infor­ma­tion about the pro­posed transaction.

Investors and secu­ri­ty hold­ers will be able to obtain free copies of the reg­is­tra­tion state­ment, the proxy statement/​prospectus and all oth­er rel­e­vant doc­u­ments filed or that will be filed with the SEC by KVAC through the web­site main­tained by the SEC at www​.sec​.gov.

The doc­u­ments filed by KVAC with the SEC also may be obtained free of charge at KVAC’s web­site at https://khoslaventuresacquisit… or upon writ­ten request to Sec­re­tary at Khosla Ven­tures Acqui­si­tion Co., 2128 Sand Hill Road, Men­lo Park, Cal­i­for­nia 94025.

Par­tic­i­pants in Solicitation

KVAC and Valo and their respec­tive direc­tors and exec­u­tive offi­cers may be deemed to be par­tic­i­pants in the solic­i­ta­tion of prox­ies from KVAC’s share­hold­ers in con­nec­tion with the pro­posed trans­ac­tion. A list of the names of such direc­tors and exec­u­tive offi­cers and infor­ma­tion regard­ing their inter­ests in the busi­ness com­bi­na­tion will be con­tained in the proxy statement/​prospectus when avail­able. You may obtain free copies of these doc­u­ments as described in the pre­ced­ing paragraph.

For­ward-Look­ing Statements

This doc­u­ment con­tains cer­tain for­ward-look­ing state­ments with­in the mean­ing of the fed­er­al secu­ri­ties laws with respect to the pro­posed trans­ac­tion between Valo and KVAC. These for­ward-look­ing state­ments gen­er­al­ly are iden­ti­fied by the words believe,” project,” expect,” antic­i­pate,” esti­mate,” intend,” strat­e­gy,” future,” oppor­tu­ni­ty,” plan,” may,” should,” will,” would,” will be,” will con­tin­ue,” will like­ly result,” and sim­i­lar expres­sions. For­ward-look­ing state­ments are pre­dic­tions, pro­jec­tions and oth­er state­ments about future events that are based on cur­rent expec­ta­tions and assump­tions and, as a result, are sub­ject to risks and uncer­tain­ties. Many fac­tors could cause actu­al future events to dif­fer mate­ri­al­ly from the for­ward-look­ing state­ments in this doc­u­ment, includ­ing but not lim­it­ed to: (i) the risk that the trans­ac­tion may not be com­plet­ed in a time­ly man­ner or at all, which may adverse­ly affect the price of KVAC’s secu­ri­ties, (ii) the risk that the trans­ac­tion may not be com­plet­ed by the busi­ness com­bi­na­tion dead­line and the poten­tial fail­ure to obtain an exten­sion of the busi­ness com­bi­na­tion dead­line if sought by either par­ty, (iii) the fail­ure to sat­is­fy the con­di­tions to the con­sum­ma­tion of the trans­ac­tion, includ­ing the approval of the adop­tion of the Agree­ment and Plan of Merg­er, dat­ed as of June 9, 2021 (the Merg­er Agree­ment”), by and among KVAC, Valo, Valo Health, Inc., a Delaware cor­po­ra­tion and a direct whol­ly owned sub­sidiary of Valo and Killing­ton Merg­er Sub Inc., a Delaware cor­po­ra­tion and a direct whol­ly owned sub­sidiary of KVAC, by the share­hold­ers of KVAC, the sat­is­fac­tion of the min­i­mum trust account amount fol­low­ing any redemp­tions by KVAC’s pub­lic share­hold­ers and the receipt of cer­tain gov­ern­men­tal and reg­u­la­to­ry approvals, (iv) the lack of a third par­ty val­u­a­tion in deter­min­ing whether or not to pur­sue the pro­posed trans­ac­tion, (v) the inabil­i­ty to com­plete the PIPE trans­ac­tion, (vi) the occur­rence of any event, change or oth­er cir­cum­stance that could give rise to the ter­mi­na­tion of the merg­er agree­ment, (vii) the effect of the announce­ment or pen­den­cy of the trans­ac­tion on Val­o’s busi­ness rela­tion­ships, oper­at­ing results, and busi­ness gen­er­al­ly, (viii) risks that the pro­posed trans­ac­tion dis­rupts cur­rent plans and oper­a­tions of Valo, (ix) the out­come of any legal pro­ceed­ings that may be insti­tut­ed against Valo or against KVAC relat­ed to the merg­er agree­ment or the pro­posed trans­ac­tion, (x) the abil­i­ty to main­tain the list­ing of KVAC’s secu­ri­ties on a nation­al secu­ri­ties exchange, (xi) changes in the com­pet­i­tive and reg­u­lat­ed indus­tries in which Valo oper­ates, vari­a­tions in oper­at­ing per­for­mance across com­peti­tors, changes in laws and reg­u­la­tions affect­ing Val­o’s busi­ness and changes in the com­bined cap­i­tal struc­ture, (xii) the abil­i­ty to imple­ment busi­ness plans and oth­er expec­ta­tions after the com­ple­tion of the pro­posed trans­ac­tion, and iden­ti­fy and real­ize addi­tion­al oppor­tu­ni­ties, (xiii) the risk of down­turns and a chang­ing reg­u­la­to­ry land­scape in the high­ly com­pet­i­tive drug dis­cov­ery and devel­op­ment indus­try, and (ix) costs relat­ed to the trans­ac­tion and the fail­ure to real­ize antic­i­pat­ed ben­e­fits of the trans­ac­tion or to real­ize esti­mat­ed pro for­ma results and under­ly­ing assump­tions, includ­ing with respect to esti­mat­ed share­hold­er redemp­tions. The fore­go­ing list of fac­tors is not exhaus­tive. You should care­ful­ly con­sid­er the fore­go­ing fac­tors and the oth­er risks and uncer­tain­ties described in the Risk Fac­tors” sec­tion of the reg­is­tra­tion state­ment on Form S‑4 dis­cussed above and oth­er doc­u­ments filed by KVAC from time to time with the SEC. These fil­ings iden­ti­fy and address oth­er impor­tant risks and uncer­tain­ties that could cause actu­al events and results to dif­fer mate­ri­al­ly from those con­tained in the for­ward-look­ing state­ments. For­ward-look­ing state­ments speak only as of the date they are made. Read­ers are cau­tioned not to put undue reliance on for­ward-look­ing state­ments, and Valo and KVAC assume no oblig­a­tion and do not intend to update or revise these for­ward-look­ing state­ments, whether as a result of new infor­ma­tion, future events, or oth­er­wise. Nei­ther Valo nor KVAC gives any assur­ance that either Valo or KVAC, or the com­bined com­pa­ny, will achieve its expectations.