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Home Industry News Pharmaceutical Semnur Pharmaceuticals Reveal SPAC Deal Worth $2bn

Semnur Pharmaceuticals Reveal SPAC Deal Worth $2bn

5th July 2024

Semnur Pharmaceuticals and Denali Capital Acquisition Corp., a special purpose acquisition company (SPAC), have inked an expression of intent to combine and go public.

The estimated worth of the company’s combination equity is up to $2 billion, and the amount of SPAC shares bought might bring in a revenue of up to $40 million.

Semnur is a division of Scilex Holding Company, a non-opioid pain treatment expert.

The publicly listed biopharmaceutical company intends to profit from SP-102, a treatment candidate for Semnur that is also marketed under the name Semdaxa. For individuals with mild to severe persistent radicular pain, a medication is being researched.

Semnur’s research highlights that five years after introduction, Semdaxa is expected to achieve yearly revenues of $3.6 billion.

Scilex CEO Jaisim Shah stated: “This is an important milestone in our path towards unlocking the value of SP-102 (Semdaxa) treatment for lumbar radicular pain or sciatica. We look forward to closing the proposed business combination as soon as reasonably practicable and look forward to collaborating with the Denali team in this exciting next chapter.”

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