Scilex Holding Company, a subsidiary of Sorrento Therapeutics, and Vickers Vantage I signed a letter of intent for a proposed business combination.
Scilex is engaged in the development and commercialization of non-opioid pain management products for treatment of acute and chronic pain.
The LOI provides for gross proceeds of up to $140 million, dependent on the level of SPAC shareholders that exercise redemption rights. If the companies proceed with a definitive agreement, the SPAC will seek shareholder approval in the first half of 2022. Read more.
