Semnur Pharmaceuticals and Denali Capital Acquisition Corp approved business combination.

• Semnur Pharmaceuticals announces business combination with Denali Capital Acquisition Corp. • Denali shareholders approve the deal at an Extraordinary General Meeting on Sept. 3, 2025. • Semnur to operate as a subsidiary of Scilex Holding Company. • The combined company focuses on non-opioid pain management products for acute and chronic pain. • Semnur generates revenue for Scilex through the development and commercialization of pain management products.

PALO ALTO, Calif., Sept. 4, 2025 (GLOBE NEWSWIRE) -- Semnur Pharmaceuticals, Inc. ("Semnur"), a majority-owned subsidiary of Scilex Holding Company ("Scilex" or the "Company") (Nasdaq: SCLX), an innovative revenue-generating company focused on acquiring, developing, and commercializing non-opioid pain management products, announced that the shareholders of Denali Capital Acquisition Corp. ("Denali") approved the previously announced business combination with Semnur (the "Business Combination").

The Business Combination was approved by Denali's shareholders at an Extraordinary General Meeting held on September 3, 2025. The combined company will operate as Semnur Pharmaceuticals, Inc. upon consummation of the Business Combination, which is expected to close in September 2025, subject to satisfaction of customary closing conditions.

Semnur's product candidate, SP-102 (SEMDEXA™), is the first non-opioid novel gel formulation administered epidurally in development for patients with moderate to severe chronic radicular pain/sciatica. The combined company will focus on non-opioid pain management products for acute and chronic pain, neurodegenerative, and cardiometabolic diseases.

Denali has filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (the "SEC") to disclose the full voting results of the Meeting. For more information on Scilex Holding Company, refer to [1] www.scilexholding.com. For more information on Semnur Pharmaceuticals, Inc., refer to [1] www.semnurpharma.com.

References:
[1] https://www.stocktitan.net/news/SCLX/semnur-pharmaceuticals-inc-semnur-a-majority-owned-subsidiary-of-su4kynsxx9yk.html