Semnur Pharmaceuticals, Inc., a subsidiary of Scilex Holding Company, has announced a merger with Denali Capital Acquisition Corp., a special purpose acquisition company (SPAC). The proposed business combination values Semnur at $2.5 billion and is aimed at taking Semnur public, with expected completion by Q1 2025. This merger will enable Semnur to accelerate the development and commercialisation of SEMDEXA, a non-opioid treatment for sciatica that has shown promising results in Phase 3 trials. If approved by the FDA, SEMDEXA could significantly impact the market for pain management, with anticipated annual sales reaching up to $2.0 billion. The combined company will maintain the Semnur Pharmaceuticals name and trade on Nasdaq under new ticker symbols. Investments from this merger are expected to fuel further advancements in the company’s pipeline of novel non-opioid pain therapies.
Pharmaceuticals & Biotechnology, Healthcare, Financial Services,United States
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