Scilex Holding Company Announces It Has Entered into a Memorandum of Understanding with Biconomy.com to Collaborate on Future Cryptocurrency Strategies and Treasury Management

Rhea-AI Summary

Scilex Holding Company (Nasdaq: SCLX), a non-opioid pain management company, has entered into a non-binding, non-exclusive Memorandum of Understanding (MOU) with Biconomy.com for cryptocurrency and treasury management strategies.

The collaboration focuses on three key areas: (1) utilizing Biconomy's cryptocurrency exchange platform for trading Scilex's digital assets, potentially exceeding $1 billion per cryptocurrency, (2) developing a cryptocurrency treasury management strategy balancing security, liquidity, compliance, and yield, and (3) implementing Biconomy's technology to monetize Scilex's digital assets.

Positive

• Potential to manage and trade digital assets worth over $1 billion per cryptocurrency
• Strategic partnership with established crypto exchange platform
• Diversification into cryptocurrency markets could provide new revenue streams

Negative

• MOU is non-binding and non-exclusive, indicating uncertainty in execution
• Exposure to volatile cryptocurrency markets poses significant financial risks
• No immediate financial impact as agreement is preliminary

PALO ALTO, Calif., Sept. 24, 2025 (GLOBE NEWSWIRE) -- 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 it has signed a non-binding, non-exclusive Memorandum of Understanding (the “MOU”) with Biconomy.com (“Biconomy”) with respect to future cryptocurrency and treasury management strategies, including in the following areas:

(1) Collaborating and leveraging Biconomy’s cryptocurrency exchange platform to provide global cryptocurrency trading services for Scilex’s digital assets, which could potentially excess a billion dollars per cryptocurrency, including Bitcoins, Ethereum, and other major cryptocurrencies.
(2) Establishing a cryptocurrency treasury management strategy at Scilex with a balance in security, liquidity, compliance, and yield.
(3) Leveraging technology provided by Biconomy.com to deliver to Scilex financial and trade information in order to monetize Scilex’s digital assets.

“We are thrilled to be collaborating with Scilex on crypto strategies in order to create long-term value in their digital assets and to accelerate the shift toward a crypto-powered economy,” said Dmitry Sheludko, CEO of Biconomy.com.

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.

https://www.facebook.com/scilex.pharm

https://www.linkedin.com/company/scilex-holding-company/

info@scilexholding.com

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) 1.8%, a prescription lidocaine topical product approved by the U.S. Food and Drug Administration (the “FDA”) for the relief of neuropathic pain associated with postherpetic neuralgia, which is a form of post-shingles nerve pain; (ii) ELYXYB®, a potential first-line treatment and the only FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults; and (iii) Gloperba®, the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.

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) 5.4%, (“SP-103”), a next-generation, triple-strength formulation of ZTlido, for the treatment of acute pain and for which Scilex has recently completed a Phase 2 trial in acute low back pain. SP-103 has been granted Fast Track status from the FDA in low back pain; and (iii) SP-104 (4.5 mg, low-dose naltrexone hydrochloride delayed-release capsules) (“SP-104”), a novel low-dose delayed-release naltrexone hydrochloride being developed for the treatment of fibromyalgia.

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

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, timing to enter into any definitive agreement regarding the services contemplated by the MOU or complete the services contemplated by the MOU, the estimated or anticipated future results and benefits of the servuces contemplated by the MOU and the engagement of Biconomy, Scilex’s future plans for cryptocurrency reserve build up, treasury management and strategy implementation with Bitcoin blockchain or other cryptocurrencies, future opportunities for Scilex and its subsidiaries, the future business strategies, long-term objectives and commercialization plans of Scilex and its subsidiaries, the current and prospective product candidates, planned clinical trials and preclinical activities and potential product approvals, as well as the potential for market acceptance of any approved products and the related market opportunity of Scilex and its subsidiaries, statements regarding SP-102, if approved by the FDA, Scilex’s potential to attract new capital and avoid the effects of negative debt leverage and other statements that are not historical facts. These statements are based on management’s current expectations of 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 Scilex. These statements are subject to a number of risks and uncertainties regarding Scilex’s and Semnur’s businesses and the services contemplated by the MOU and the engagement of Biconomy, and actual results may differ materially. These risks and uncertainties include, but are not limited to, general economic, political and business conditions; the ability of Scilex and its subsidiaries to achieve the benefits of the services contemplated by the MOU, including future financial and operating results; risks related to the outcome of any legal proceedings that may be instituted against the parties regarding the services contemplated by the MOU or any definitive engagement of Biconomy; the risk that the services contemplated by the MOU or the engagement of Biconomy disrupts current plans and operations; the ability of Scilex and its subsidiaries to develop and successfully market products; the ability of Scilex and its subsidiaries to grow and manage growth profitably and retain its key employees; the risk that the potential product candidates that Scilex develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; risks relating to uncertainty regarding the regulatory pathway for Scilex’s product candidates; the risk that Scilex’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Scilex has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; risks that the prior results of the clinical trials may not be replicated; regulatory and intellectual property risks; the risk of failure to realize the anticipated benefits of the services contemplated by the MOU or any definitive engagement of Biconomy and other risks and uncertainties indicated from time to time and other risks set forth in Scilex’s filings with the SEC. There may be additional risks that Scilex presently does not know or that Scilex currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements provide Scilex’s expectations, plans or forecasts of future events and views as of the date of the communication. Scilex anticipates that subsequent events and developments will cause such assessments to change. However, while Scilex may elect to update these forward-looking statements at some point in the future, Scilex specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Scilex’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.

FAQ

What is the purpose of Scilex's MOU with Biconomy.com?

The MOU aims to establish collaboration for cryptocurrency trading services and treasury management strategies, potentially managing digital assets exceeding $1 billion per cryptocurrency.

What are the main components of SCLX's cryptocurrency strategy with Biconomy?

The strategy includes three main components: using Biconomy's exchange platform for crypto trading, establishing treasury management strategies, and implementing technology to monetize digital assets.

Is the Memorandum of Understanding between Scilex and Biconomy binding?

No, the MOU is explicitly non-binding and non-exclusive, serving as a preliminary agreement for future collaboration.

What types of cryptocurrencies will SCLX be trading through Biconomy.com?

The agreement mentions trading of Bitcoin, Ethereum, and other major cryptocurrencies, with potential holdings exceeding $1 billion per cryptocurrency.

How does this cryptocurrency initiative align with Scilex's core business?

While Scilex's core business focuses on non-opioid pain management products, this initiative represents a diversification into digital asset management and cryptocurrency markets.