Semnur Pharmaceuticals plans to go public through a merger with the special purpose acquisition company Denali Capital Acquisition Corp. in a deal valued at $2.5 billion. This merger, expected to close by Q1 2025, will see Semnur continuing to work on its lead candidate Semdexa, a non-opioid injectable corticosteroid gel for treating moderate to severe sciatica. Semdexa has shown promising results in Phase 3 trials and holds an FDA fast-track designation. The merger aligns with Semnur’s parent company Scilex Holding Company’s growth strategy, aiming to enhance shareholder value and pursue global collaborations. Scilex itself has successfully navigated the public markets through a previous SPAC merger.
Pharmaceuticals, Special Purpose Acquisition Company (SPAC), Healthcare,United States
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