Semnur Pharmaceuticals, which is working on a non-opioid prospect for sciatica, has agreed to merge with special purpose acquisition company Denali Capital Acquisition Corp. in a deal worth $2.5 billion.
Upon closure of the deal, which is expected by the first quarter of 2025, Semnur plans to continue the road to potential commercialization for its lead candidate Semdexa.
The condition causes pain in patients’ lower back and hips, symptoms that are often treated with opioids, Semnur’s parent company Scilex Holding Company has previously noted.
In a pain field where UCB and Biogen have have come up short, Semdexa could represent a major commercial boon. The drug could rake in sales of $1.5 billion to $2 billion by the fifth year of launch in just the sciatica indication, Scilex has forecast, citing independent market research by Syneos Health Consulting.
The treatment holds an FDA fast-track designation, and a 700-patient trial needed to support a potential approval was previously projected to finish enrollment in 2025.
Scilex, a former subsidiary of troubled Sorrento Therapeutics, also made its way to the U.S. public markets through a SPAC merger with Vickers Vantage Corp. in a deal that closed in 2022. The company now markets migraine treatment Elyxyb and gout flare preventative Glopera as well as pain patch ZTlido.
Πηγή: fiercepharma.com
