Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics, In… – Press Release

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PALO ALTO, Calif., April 25, 2022 (GLOBE NEWSWIRE) — Scilex Holding Company (“Scilex”), a nearly 100% (or over 99.9%) majority-owned subsidiary of Sorrento Therapeutics, Inc. SRNE “Sorrento”))), a commercial biopharmaceutical company focused on developing and commercializing non-opioid therapies for patients with acute and chronic pain, announced the expansion of its direct distribution network to national and regional wholesalers and pharmacies.   Cardinal 3PL will continue to provide traditional third-party logistics functions for Scilex. This transition will further strengthen Scilex’s supply chain and distribution areas as it expands and positions itself as an innovative leader in non-opioid pain therapeutics. The change gives Scilex better control of distribution of ZTlido and should position Scilex well to launch future products. The transition also provides a better alignment of Scilex’s distribution cost and revenue structure. This commercial team and direct system are also in position to launch any future Sorrento products.

“We anticipate a number of benefits as a result of this transition which will help to better serve our customers. It is critical to ensure Scilex is as close as we can be to our customers to understand their needs and to help them achieve their long-term objectives,” said Jaisim Shah, Chief Executive Officer of Scilex.

Scilex Holding Company and Vickers Vantage Corp. I VCKA (“VCKA”), a special purpose acquisition company sponsored by Vickers Venture Fund VI Pte Ltd and Vickers Venture Fund VI (Plan) Pte Ltd, entered into a definitive business combination agreement (“BCA”) on March 17, 2022. Upon the closing of the transaction, the combined company (the “Combined Company”) will be renamed Scilex Holding Company, and its common stock is expected to be listed on Nasdaq under the ticker symbol “SCLX”. The boards of directors of each of VCKA, Scilex and Sorrento have unanimously approved the proposed transaction. The closing of the…

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