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Scilex Holding Company ( (SCLX) ) has issued an update.
On May 4, 2026, ACEA Therapeutics, Inc., an indirect minority-owned subsidiary of Scilex Holding Company, signed a stock acquisition agreement under which it will transfer 100% of the equity of its wholly owned unit ACEA Pharma, Inc. to Phoenix Asia Holdings Limited in exchange for 100,000,000 newly issued Phoenix shares valued by the parties at $1 billion. The deal, unanimously approved by the boards of ACEA Therapeutics, ACEA Pharma and Phoenix, is expected to close by the end of the second quarter of 2026, subject to regulatory and stock exchange clearances and other customary conditions, after which ACEA Therapeutics is expected to own about 82% of the renamed go-forward company, ACEA Pharma, Inc., whose common stock is anticipated to continue trading on Nasdaq.
The transaction effectively positions ACEA Pharma as the new core business of Phoenix Asia, shifting Phoenix away from its traditional Hong Kong substructure engineering focus toward a clinical-stage biopharmaceutical platform with an established infrastructure in China. For Scilex and its stakeholders, the structure consolidates significant control over a Nasdaq-listed oncology and immunology-focused vehicle while potentially expanding capital markets visibility for ACEA’s pipeline, marking a notable strategic move that could enhance the group’s presence in global life sciences markets.
More about Scilex Holding Company
Scilex Holding Company is a Palo Alto-based, revenue-generating biopharmaceutical company focused on acquiring, developing and commercializing non-opioid pain management therapies for acute and chronic pain, as well as treatments for neurodegenerative and cardiometabolic diseases. Its commercial portfolio includes ZTlido for postherpetic neuralgia, ELYXYB for acute migraine in adults, and Gloperba for prophylaxis of gout flares, alongside late-stage product candidates such as SP-102, SP-103 and SP-104 targeting sciatica, acute low back pain and fibromyalgia, respectively.
ACEA Therapeutics, an indirect subsidiary of Scilex, is a clinical-stage pharmaceutical company with a diverse pipeline addressing unmet needs in cancer, autoimmune disease and Covid-19, supported by in-house manufacturing and commercial infrastructure in China. Phoenix Asia Holdings Limited, listed on Nasdaq as PHOE, operates as a Cayman Islands holding company whose main business is substructure works in Hong Kong, including site formation, ground investigation and foundation projects executed through its subsidiary Winfield Engineering (Hong Kong) Limited.
Average Trading Volume: 48,349
Technical Sentiment Signal: Sell
Current Market Cap: $94.68M
Find detailed analytics on SCLX stock on TipRanks’ Stock Analysis page.