Scilex Holding Company announced a $20 million private placement for its majority-owned subsidiary, Semnur Pharmaceuticals, Inc.
The funding will be used to advance the second Phase 3 clinical trial for SP-102, a treatment for Lumbosacral Radicular Pain (LRP)/Sciatica.
Jaisim Shah, Scilex's CEO, will dedicate full time to Semnur for the rapid advancement of SP-102.
Private Placement Agreement
$20 million private placement at $16.00 per share for Semnur Pharmaceuticals, Inc.
Dedicated Leadership
CEO Jaisim Shah will focus full time on advancing SP-102 for LRP/Sciatica treatment.
Management Change
Henry Ji appointed as new CEO and President of Scilex Holding Company.
- The private placement signals investor confidence in Semnur's potential for SP-102 development.
- Jaisim Shah's full-time dedication to Semnur shows commitment to advancing non-opioid pain management therapies.
- Management change brings strategic shift with Henry Ji taking over as CEO.
The private placement and leadership dedication highlight Scilex Holding Company's commitment to innovation in non-opioid pain management treatments.