Scilex Secures Major Investment to Propel Innovative AI Solutions
Scilex Holding Company Completes Key Investment in Datavault AI
PALO ALTO, Calif. — Scilex Holding Company, recognized for its focus on non-opioid pain management solutions, has made significant strides by closing the initial tranche of its substantial investment in Datavault AI Inc. This $150 million investment marks a pivotal move towards the advancement of innovative therapeutic options and AI-driven data solutions.
Details of the Investment
As part of this investment, Scilex is slated to acquire approximately 278,914,094 shares of Datavault common stock, set at an effective purchase price of $0.5378 per share. This transaction's first phase has already delivered 15 million shares to Scilex, with the remaining shares contingent upon the approval from Datavault's stockholders.
Supporting Pain Management Efforts
Scilex is determined to address the growing need for effective non-opioid pain management. With products like ZTlido®, a topical treatment for neuropathic pain, and ELYXYB®, an FDA-approved oral solution for acute migraines, the company is actively reshaping how pain is treated. These advancements speak to a broader goal of improving patient outcomes in areas where traditional opioid therapies pose significant risks.
Innovative Products in Development
Apart from these existing products, Scilex is also advancing its pipeline with promising candidates like SP-102, aimed at treating sciatica, and the new SP-103 variant of ZTlido. The latter has recently completed a Phase 2 trial for acute low back pain, showcasing Scilex's commitment to innovation and efficacy in pain management solutions.
About Datavault AI
Datavault AI represents the fusion of advanced AI technology and data monetization strategies. Through its cloud-based platform, it offers a suite of solutions aimed at various industries including healthcare, education, and entertainment. Its proprietary technologies are designed to enhance data perception and facilitate secure monetization, providing an innovative framework for asset management in the digital age.
Focus on Advancement
The investment is not merely a financial transaction; it's a strategic partnership aimed at revolutionizing data-driven decision-making within the healthcare sector. The collaboration is expected to yield significant benefits, both for Scilex in introducing new solutions and for Datavault in enhancing its technologies.
Company Overview
Scilex Holding Company is dedicated to transforming chronic pain management. By targeting areas of high unmet needs with innovative treatments, Scilex is paving the way for future advancements in medical technology. As it continues to grow its portfolio, the potential for increased market presence is substantial.
Headquartered in Palo Alto, California, Scilex emphasizes patient outcomes and market expansion, ensuring its initiatives are aligned with the changing landscape of healthcare.
Frequently Asked Questions
What is Scilex Holdings' main focus?
Scilex is focused on developing and commercializing non-opioid pain management products to treat acute and chronic pain.
What is the significance of the investment in Datavault AI?
The investment allows Scilex to enhance its technology solutions and provides Datavault with capital to further develop its AI-driven innovations.
What are Scilex’s notable products?
Scilex offers products such as ZTlido®, ELYXYB®, and Gloperba®, all aimed at addressing pain and management health issues.
How does Scilex plan to navigate potential market risks?
Scilex engages in continuous innovation and strategic partnerships, like the one with Datavault, to mitigate risks associated with market dynamics.
In which locations does Scilex operate?
Scilex is based in Palo Alto, California, and is expanding its reach in the healthcare market through various innovative solutions.
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