Scilex Holding Company Appoints New CEO, Effective August 17, 2025

Scilex Holding Company announced that Jaisim Shah will resign as CEO on August 17, 2025. Henry Ji, Ph.D. will take over as CEO and assume all duties formerly performed by Shah. Shah will continue to serve on the Board of Directors and dedicate his time to his role as CEO and President of Semnur.

Scilex Holding Company (Nasdaq: SCLX), a leading innovator in non-opioid pain management products, has announced significant changes in its leadership and financing. Effective August 17, 2025, Jaisim Shah will resign as Chief Executive Officer and President of Scilex, and Henry Ji, Ph.D., will assume the role. Shah will continue to serve on the Board of Directors and dedicate his time to Semnur Pharmaceuticals, Inc. (Semnur), a majority-owned subsidiary of Scilex, where he will serve as CEO and President on a full-time basis.

In addition to the leadership change, Semnur and Denali Capital Acquisition Corp. have entered into a purchase agreement for a $20 million private placement. The agreement involves the purchase of 1,250,000 shares of common stock at $16.00 per share, with the proceeds earmarked for advancing the second Phase 3 clinical trial for SP-102 (10 mg, dexamethasone sodium phosphate viscous gel), a non-opioid pain management product designed to treat lumbosacral radicular pain (sciatica). The closing of this transaction is subject to customary conditions and expected to occur immediately following the consummation of the Business Combination between Semnur and Denali.

The appointment of Henry Ji as CEO of Scilex reflects his significant contributions to the company's rapid growth and product development. Ji has been instrumental in Scilex's acquisition of Semnur in 2019, the launch of ZTlido®, and the completion of the first SP-102 Phase 3 clinical trial. Shah's transition to Semnur will allow the company to accelerate the development of SP-102, a product with the potential to significantly impact the treatment of chronic radicular pain.

The financial news highlights the strategic importance of Semnur's lead product and the commitment of Scilex to advancing non-opioid pain management solutions. The $20 million private placement underscores investor confidence in Semnur's mission to increase access to prescription non-opioid therapeutics.

References:
[1] https://www.manilatimes.net/2025/08/21/tmt-newswire/globenewswire/scilex-holding-company-nasdaq-sclx-announces-its-majority-owned-subsidiary-semnur-pharmaceuticals-inc-semnur-and-denali-capital-acquisition-corp-have-entered-into-a-purchase-agreement-with-an-investor-for-a-20-million-private-placement-at-1600-per-share-and-jaisim-shah-scilexs-ceo-and-president-will-be-dedicated-to-semnur-on-a-full-time-basis-to-rapidly-advance-sp-102-to-regulatory-approval-and-commercialization-for-the-treatment-of-lumbosacral-radicular-pain-lrpsciatic