Sorrento Therapeutics Inc (SRNE)

[XenaLives]

Sorrento Therapeutics, Inc. announced that its majority owned subsidiary Scilex Pharmaceuticals Inc. (Scilex) has closed a transaction to merge with Mountain View, California, based Semnur Pharmaceuticals, Inc. (Semnur) to form a new company, Scilex Holding Company (Scilex Holding). Sorrento’s equity stake in Scilex (77%) has been converted into a 58% stake in Scilex Holding. With Scilex’s lead product ZTlido (lidocaine topical system 1.8%) growing rapidly in the early months of commercial launch and Semnur’s lead compound (non-opioid corticosteroid gel) in Phase III pivotal studies for the treatment of lumbar radicular pain/sciatica with Fast Track status from the FDA, Scilex Holding is well positioned to become a global leader in non-opioid pain management.

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https://www.epgonline.org/global/news/scilex-pharma-and-semnur-pharma-merge-to-form-scilex-holding-company--a-potential-global-leader-in-non-opioid-pain-management-.html