Semnur Pharmaceuticals, Inc. (“Semnur”), a Majority-Owned Subsidiary of Scilex Holding Company (Nasdaq: SCLX, “Scilex”), and Denali Capital Acquisition Corp. Announce Approval from Denali’s Shareholders of the Previously Announced Business Combination
Semnur Pharmaceuticals, a majority-owned subsidiary of Scilex Holding Company (Nasdaq: SCLX), announced that shareholders of Denali Capital Acquisition Corp have approved their previously announced business combination at an Extraordinary General Meeting held on September 3, 2025.
The combined entity will operate as Semnur Pharmaceuticals, Inc. The merger is expected to close in September 2025, subject to customary closing conditions. The business combination approval follows Denali's filing of a definitive proxy statement/prospectus with the SEC on August 13, 2025.
Scilex Holding Company is a revenue-generating company focused on non-opioid pain management products for acute and chronic pain, as well as neurodegenerative and cardiometabolic disease treatments.
Semnur Pharmaceuticals, una controllata per la maggioranza di Scilex Holding Company (Nasdaq: SCLX), ha annunciato che gli azionisti di Denali Capital Acquisition Corp hanno approvato la fusione precedentemente annunciata durante l'Assemblea Straordinaria tenutasi il 3 settembre 2025.
La società risultante opererà con il nome Semnur Pharmaceuticals, Inc. La chiusura della fusione è prevista per settembre 2025, subordinata alle consuete condizioni di closing. L'approvazione dell'operazione segue il deposito, da parte di Denali, della dichiarazione/prospetto definitivo presso la SEC il 13 agosto 2025.
Scilex Holding Company è un'azienda con ricavi focalizzata su prodotti per la gestione del dolore non oppioide destinati al dolore acuto e cronico, oltre che su trattamenti per malattie neurodegenerative e cardiometaboliche.
Semnur Pharmaceuticals, una subsidiaria mayoritaria de Scilex Holding Company (Nasdaq: SCLX), anunció que los accionistas de Denali Capital Acquisition Corp aprobaron la combinación de negocios anunciada previamente en la Junta General Extraordinaria celebrada el 3 de septiembre de 2025.
La entidad combinada operará bajo el nombre Semnur Pharmaceuticals, Inc. Se espera que la fusión se cierre en septiembre de 2025, sujeta a las condiciones habituales de cierre. La aprobación de la combinación empresarial sigue a la presentación por parte de Denali de la declaración/prospecto definitivo ante la SEC el 13 de agosto de 2025.
Scilex Holding Company es una empresa generadora de ingresos centrada en productos no opioides para el manejo del dolor agudo y crónico, así como en tratamientos para enfermedades neurodegenerativas y cardiometabólicas.
Semnur Pharmaceuticals(Scilex Holding Company (Nasdaq: SCLX)의 과반 지분 자회사)는 Denali Capital Acquisition Corp의 주주들이 2025년 9월 3일 열린 임시 주주총회에서 이전에 발표된 기업 결합을 승인했다고 발표했습니다.
합병 후 통합 법인은 Semnur Pharmaceuticals, Inc.라는 명칭으로 운영될 예정입니다. 합병은 통상적인 종결 조건을 전제로 2025년 9월에 완료될 것으로 예상됩니다. 이번 기업 결합 승인 결정은 Denali가 2025년 8월 13일 SEC에 확정 프록시 명세서/설명서를 제출한 데 따른 것입니다.
Scilex Holding Company는 급성 및 만성 통증을 위한 비오피오이드 진통제와 신경퇴행성 질환 및 심대사 질환 치료제에 주력하는 매출 창출 기업입니다.
Semnur Pharmaceuticals, une filiale majoritaire de Scilex Holding Company (Nasdaq: SCLX), a annoncé que les actionnaires de Denali Capital Acquisition Corp ont approuvé la fusion annoncée précédemment lors de l'Assemblée générale extraordinaire qui s'est tenue le 3 septembre 2025.
L'entité combinée opérera sous le nom Semnur Pharmaceuticals, Inc. La clôture de la fusion est prévue en septembre 2025, sous réserve des conditions usuelles de réalisation. L'approbation de la combinaison d'entreprises fait suite au dépôt par Denali de la déclaration/prospectus définitif auprès de la SEC le 13 août 2025.
Scilex Holding Company est une société génératrice de revenus, axée sur des produits non opioïdes pour la gestion de la douleur aiguë et chronique, ainsi que sur des traitements des maladies neurodégénératives et cardiométaboliques.
Semnur Pharmaceuticals, eine Mehrheitsbeteiligungstochter von Scilex Holding Company (Nasdaq: SCLX), gab bekannt, dass die Aktionäre von Denali Capital Acquisition Corp auf der außerordentlichen Hauptversammlung am 3. September 2025 der zuvor angekündigten Unternehmenszusammenführung zugestimmt haben.
Das zusammengeführte Unternehmen wird unter dem Namen Semnur Pharmaceuticals, Inc. auftreten. Der Zusammenschluss soll im September 2025 abgeschlossen werden, vorbehaltlich der üblichen Abschlussbedingungen. Die Zustimmung zur Transaktion folgt auf die Einreichung der endgültigen Proxy-/Prospekterklärung durch Denali bei der SEC am 13. August 2025.
Scilex Holding Company ist ein umsatzbringendes Unternehmen, das sich auf nicht-opioide Schmerztherapien für akute und chronische Schmerzen sowie auf Behandlungen für neurodegenerative und kardiometabolische Erkrankungen konzentriert.
- Business combination approval represents significant milestone for both companies
- Combined entity maintains focus on innovative non-opioid pain management solutions
- Merger expected to close promptly in September 2025
- Closing still subject to customary conditions
- Financial terms and potential dilution impact not disclosed
Insights
Denali shareholders approved merger with Scilex's subsidiary Semnur, creating new public entity expected to close September 2025.
Shareholders of Denali Capital Acquisition Corp have approved the business combination with Semnur Pharmaceuticals, a majority-owned subsidiary of Scilex Holding Company. This transaction represents a significant corporate development that will transform Semnur into a standalone publicly traded entity.
The approval occurred at Denali's Extraordinary General Meeting on September 3, 2025, with all related proposals passing. The definitive proxy statement for this transaction was filed with the SEC on August 13, 2025, indicating thorough regulatory disclosure and compliance.
The combined entity will operate under the Semnur Pharmaceuticals name, with the transaction expected to close in September 2025, subject to standard closing conditions. This SPAC merger provides Semnur with public market access while potentially allowing Scilex to realize value from its subsidiary.
For Scilex shareholders, this transaction likely creates a clearer corporate structure by separating Semnur's operations and allowing more focused investment theses for both entities. Scilex identifies as an "innovative revenue-generating company" focused on non-opioid pain management and treatments for neurodegenerative and cardiometabolic diseases, suggesting the separation may allow for more targeted business strategies at both companies.
PALO ALTO, Calif, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Semnur Pharmaceuticals, Inc. (“Semnur”), a majority-owned subsidiary of Scilex Holding Company (“Scilex” or the “Company”) (Nasdaq: SCLX), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease, today announced that the shareholders of Denali Capital Acquisition Corp (“Denali”) approved the previously announced business combination with Semnur (the "Business Combination").
The Business Combination was approved by Denali’s shareholders at its Extraordinary General Meeting held on September 3, 2025 (the “Meeting”), along with all other proposals presented at the Meeting, each of which were set forth in the definitive proxy statement/prospectus filed by Denali with the U.S. Securities and Exchange Commission (the “SEC”) on August 13, 2025. The combined company will operate as Semnur Pharmaceuticals, Inc. upon consummation of the Business Combination, which is expected to close in September 2025, subject to satisfaction of customary closing conditions.
Denali has filed a Current Report on Form 8-K with the SEC to disclose the full voting results of the Meeting.
For more information on Scilex Holding Company, refer to www.scilexholding.com
For more information on Semnur Pharmaceuticals, Inc., refer to www.semnurpharma.com
For more information on ZTlido® including Full Prescribing Information, refer to www.ztlido.com.
For more information on ELYXYB®, including Full Prescribing Information, refer to www.elyxyb.com.
For more information on Gloperba®, including Full Prescribing Information, refer to www.gloperba.com.
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About Scilex Holding Company
Scilex is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and is dedicated to advancing and improving patient outcomes. Scilex’s commercial products include: (i) ZTlido® (lidocaine topical system)
In addition, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXA™” or “SP-102”), which is owned by Semnur and is a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, for which Scilex has completed a Phase 3 study and was granted Fast Track status from the FDA in 2017; (ii) SP-103 (lidocaine topical system)
Scilex is headquartered in Palo Alto, California.
About Semnur Pharmaceuticals, Inc.
Semnur is a clinical late-stage specialty pharmaceutical company focused on the development and commercialization of novel non-opioid pain therapies. Semnur’s product candidate, SP-102 (SEMDEXA™), is the first non-opioid novel gel formulation administered epidurally in development for patients with moderate to severe chronic radicular pain/sciatica.
Semnur Pharmaceuticals, Inc. is headquartered in Palo Alto, California
About Denali Capital Acquisition Corp.
Denali is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts and may be accompanied by words that convey projected future events or outcomes, such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” or variations of such words or by expressions of similar meaning. These forward-looking statements include, but are not limited to, statements regarding future events, the Business Combination between Semnur and Denali, the estimated or anticipated future results and benefits of the combined company following the Business Combination, including the likelihood and ability of the parties to successfully consummate the Business Combination, future opportunities for the combined company, and other statements that are not historical facts. These statements are based on the current expectations of management of the Company, Semnur and Denali and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company, Semnur and Denali. These statements are subject to a number of risks and uncertainties regarding the Company’s, Semnur’s and Denali’s businesses and the Business Combination, and actual results may differ materially. These risks and uncertainties include, but are not limited to, general economic, political and business conditions; the inability of the parties to consummate the Business Combination or the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement for the Business Combination; the outcome of any legal proceedings that may be instituted against the parties following the announcement of the Business Combination; the receipt of an unsolicited offer from another party for an alternative business transaction that could interfere with the Business Combination; failure to realize the anticipated benefits of the Business Combination, including as a result of a delay in consummating the potential transaction or difficulty in integrating the businesses of Semnur or Denali; the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination; the ability of the combined company to develop and successfully market SP-102 or other products; the ability of the combined company to grow and manage growth profitably and retain its key employees; the inability to obtain or maintain the listing or trading of the post-acquisition company’s securities on The Nasdaq Stock Market LLC or the over-the-counter markets, as applicable, following the Business Combination; and costs related to the Business Combination. There may be additional risks that Semnur and the Company presently do not know or that Semnur or the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements provide Semnur’s, the Company’s and Denali’s expectations, plans or forecasts of future events and views as of the date of the communication. Semnur and the Company anticipate that subsequent events and developments will cause such assessments to change. However, while Semnur and the Company may elect to update these forward-looking statements at some point in the future, each of Semnur and the Company specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Semnur’s or the Company’s assessments as of any date subsequent to the date of this communication. Accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.
Contacts:
Investors and Media
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310
Email: investorrelations@scilexholding.com
Website: www.scilexholding.com
SEMDEXA™ (SP-102) is a trademark owned by Semnur Pharmaceuticals, Inc., a majority-owned subsidiary of Scilex Holding Company. A proprietary name review by the FDA is planned.
ZTlido® is a registered trademark owned by Scilex Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company.
Gloperba® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.
ELYXYB® is a registered trademark owned by Scilex Holding Company.
Scilex Bio™ is a trademark owned by Scilex Holding Company, Inc.
All other trademarks are the property of their respective owners.
© 2025 Scilex Holding Company All Rights Reserved.
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