SCLX News & Events

Scilex Holding Company (SCLX) has filed a complaint in the United States District Court for the Central District of California against Marc Wade, The St. James Bank & Trust Company, Omega & Corinth Group, and related parties, alleging a scheme involving the unauthorized transfer and sale of approximately 96M Datavault AI (DVLT) common shares that were pledged as collateral in a stock loan transaction. The lawsuit also names The Bank of New York Mellon Corporation (BK) for its alleged role in opening and administering brokerage accounts through which the Pledged DVLT Shares were allegedly improperly transferred and traded. Scilex is seeking recovery of the Pledged DVLT Shares, compensatory damages exceeding $100M, punitive damages, disgorgement of profits, and other relief.

Scilex Holding announced that it has made a $20M strategic investment in Quantum Scan Holdings. Henry Ji, Ph.D., Chairman and Chief Executive Officer of Scilex Holding Company, commented: "Quantum Scan is led by an experienced team with a clear focus on innovation, revenue-generation, disciplined execution, and potential large long-term value creation. We believe this investment complements Scilex's strategic priorities and provides an opportunity to support the development of innovative medical technology platforms aligned with our broader commitment to advancing healthcare solutions."

Oramed Pharmaceuticals announced it has received an $18M payment from Scilex Holdings, representing full satisfaction of obligations under the Option Agreement. This payment brings Oramed's current returns to $118M on its original $99.5M Scilex investment, with additional returns expected from the remaining convertible notes, warrants, and royalties. Oramed retains a $27M note and a $12M convertible note with Scilex, convertible at Oramed's option into Scilex equity at $36 per share. If not converted, the note will be repaid by Scilex in quarterly installments through October 2026. Oramed also maintains its warrant position as well as a nine-year royalty interest in Scilex products.

Scilex Holding Company has appointed Kasowitz LLP and its founding partner Marc Kasowitz as the Company's litigation and intellectual property counsel. Kasowitz LLP will advise Scilex on complex commercial litigation, patent litigation, intellectual property enforcement and defense, licensing matters, and strategic intellectual property governance as the Company continues to advance and protect its proprietary pharmaceutical assets and development pipeline.