Scintilla Pharmaceuticals Acquires Semnur Pharmaceuticals for $200,000,000

  • Feed Type
  • Date
    8/18/2016
  • Company Name
    Semnur Pharmaceuticals
  • Mailing Address
    4970 El Camino Real Los Altos, CA 94022 USA
  • Company Description
    Semnur Pharmaceuticals, Inc. is an emerging specialty pharmaceutical company focused on the clinical and commercial development of innovative products that meet the needs of pain management practitioners and their patients.
  • Website
    http://www.semnurpharma.com
  • Transaction Type
    M&A
  • Transaction Amount
    $200,000,000
  • Transaction Round
  • Proceeds Purposes
  • M&A Terms
    In consideration for the acquisition, Scintilla will pay Semnur’s equity holders an initial payment of $60 million, consisting of $40 million in cash and $20 million in shares of common stock of Sorrento. In addition, additional cash consideration of up to $140 million may be paid by Scintilla to Semnur’s equity holders upon achievement of certain development, product approval and commercial milestones. Following the closing of the announced acquisitions Scintilla will operate as a stand-alone company focused on pain management.

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