Sorrento Therapeutics unit to acquire Semnur Pharmaceuticals

16 August 2016

Sorrento Therapeutics (Nasdaq: SRNE) has entered into a binding term sheet to acquire Semnur Pharmaceuticals through its subsidiary Scintilla Pharmaceuticals, to further deepen its pain management pipeline.

Scintilla's lead program is resiniferatoxin (RTX) for the treatment of intractable cancer pain, rights to which were gained along with the acquisition of Sherrington Pharmaceuticals in 2013.

This is the second acquisition by Scintilla this month, following the announcement that it will purchase USA-based SCILEX Pharmaceuticals in a $70 million stock deal. Sorrento saw its shares jump 6.44% to $6.94 on Monday. Following the closing of the announced acquisitions Scintilla will operate as a stand-alone company focused on pain management.

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