Denali Shareholders Approve Merger with Scilex's Semnur Pharmaceuticals for Pain Management Product Expansion.

Denali shareholders have approved the merger with Scilex's Semnur Pharmaceuticals. Scilex focuses on non-opioid pain management products, including ZTlido for postherpetic neuralgia, Gloperba for gout flares, and ELYXYB for migraines. The company also has product candidates such as SP-102 for sciatica, SP-103 for chronic neck pain, and SP-104.

Denali Capital Acquisition Corp (Denali) shareholders have approved the previously announced business combination with Semnur Pharmaceuticals, Inc. (Semnur), a majority-owned subsidiary of Scilex Holding Company (Scilex) (Nasdaq: SCLX). The approval was given at Denali's Extraordinary General Meeting held on September 3, 2025, along with all other proposals presented at the meeting [1].

Semnur is a clinical late-stage specialty pharmaceutical company focused on the development and commercialization of novel non-opioid pain therapies. The combined company, to be known as Semnur Pharmaceuticals, Inc., will operate under the leadership of Scilex, which specializes in acquiring, developing, and commercializing non-opioid pain management products [1].

Scilex's product portfolio includes ZTlido®, a prescription lidocaine topical product for neuropathic pain associated with postherpetic neuralgia; ELYXYB®, an oral solution for acute migraine treatment; and Gloperba®, a liquid oral version of colchicine for gout prophylaxis. Semnur's product candidate, SP-102 (SEMDEXA™), is a novel, viscous gel formulation of dexamethasone sodium phosphate for epidural injections to treat lumbosacral radicular pain or sciatica [1].

The merger is expected to close in September 2025, subject to satisfaction of customary closing conditions. Denali has filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (SEC) to disclose the full voting results of the meeting [1].

The combined company anticipates significant growth opportunities in the non-opioid pain management market, which is characterized by high unmet needs and large market opportunities. The merger is expected to enhance Scilex's capabilities in developing and commercializing innovative pain management products [1].

References:
[1] https://www.morningstar.com/news/globe-newswire/9523204/semnur-pharmaceuticals-inc-semnur-a-majority-owned-subsidiary-of-scilex-holding-company-nasdaq-sclx-scilex-and-denali-capital-acquisition-corp-announce-approval-from-denalis-shareholders-of-the-previously-announced-business-combination