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Scintilla Pharmaceuticals, Inc., a Subsidiary of Sorrento Therapeutics, Inc., to Acquire Semnur Pharmaceuticals, Inc. to Further Deepen its Pain Management Pipeline

SAN DIEGO, Aug. 15, 2016 /PRNewswire/ -- Scintilla Pharmaceuticals, Inc. ("Scintilla"), a subsidiary of Sorrento Therapeutics, Inc. (NASDAQ: SRNE; "Sorrento"), has entered into a binding term sheet to acquire Semnur Pharmaceuticals, Inc. ("Semnur"). Scintilla's lead program is resiniferatoxin ("RTX") for the treatment of intractable cancer pain.

Semnur, based in Los Altos, CA, is a specialty pharmaceutical company focused on the clinical and commercial development of innovative products that meet the needs of pain management practitioners and their patients. Semnur's lead product, projected to commence Phase 3 clinical trials in 2017, is a non-opiate epidural steroid injectable to treat chronic back pain. Key members of Semnur's management team are expected to join Scintilla's management team. On August 8, 2016, Scintilla announced it had entered into a binding term sheet to acquire SCILEX Pharmaceuticals, Inc. ("SCILEX"). Following the closing of the announced acquisitions Scintilla will operate as a stand-alone...