Sorrento Therapeutics unit to acquire Semnur Pharmaceuticals
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.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze