Semnur, a majority-owned Scilex subsidiary, signed the proposed deal with iHolding to sell 10 million newly issued shares at $10 each, subject to due diligence, definitive agreements, board approvals and regulatory clearance.
Semnur Pharmaceuticals, a majority-owned subsidiary of Scilex Holding Company, said it signed a binding term sheet with Kazakhstan-based private investment group iHolding Group LLP for a proposed $100,000,000 purchase of newly issued Semnur common stock. The shares are expected to be priced at $10.00 each, implying about 10,000,000 shares. Semnur said the proceeds would support its pipeline, including the ongoing Phase 3 clinical program for SEMDEXA (SP-102), as well as product development and commercialization, acquisitions and strategic partnerships, working capital, intellectual property expansion and other corporate purposes. The transaction has not closed and remains subject to customary due diligence, definitive agreements, board approvals and any required regulatory approvals. In a joint statement, Alain Khoueiry, Chairman, and Byron Byrd, Chief Executive Officer, iHolding Group LLP, said the proposed investment could become a landmark transaction for Kazakhstan-linked capital in biopharmaceutical innovation and aligns with iHolding’s strategy of helping establish Kazakhstan as a regional hub for pharmaceutical manufacturing, research and development, regulatory excellence and international distribution.