Scilex Holding Company’s Wholly Owned Subsidiary, Scilex Pharmaceuticals Inc., Entered into a Definitive Mutual Release and Settlement Agreement with Virpax Pharmaceuticals, Inc. Relating to the Previously Announced Term Sheet with Virpax in Respect of Such Release and Settlement

PALO ALTO, Calif., March 15, 2024 (GLOBE NEWSWIRE) — Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”), in connection with the bankruptcy proceedings of Sorrento Therapeutics, Inc. (“Sorrento”), Scilex’s former controlling stockholder, approved the settlement and mutual release agreement (the “Definitive Settlement Agreement”) between Scilex’s wholly owned subsidiary, Scilex Pharmaceuticals Inc. (“Scilex Pharma”), and Sorrento, on the one hand, and Virpax Pharmaceuticals, Inc. (“Virpax”), on the other hand. The Definitive Settlement Agreement relates to the term sheet previously announced by Scilex on February 26, 2024, regarding a mutual release and settlement agreement between Scilex Pharma, Sorrento and Virpax in respect of the action (the “Action”) filed by Scilex Pharma and Sorrento…
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