BioCentury
ARTICLE | Financial News

Sorrento subsidiary raises $140M to launch pain patch

September 14, 2018 5:28 PM UTC

Scilex Pharmaceuticals Inc. (San Diego, Calif.), a majority-owned subsidiary of Sorrento Therapeutics Inc. (NASDAQ:SRNE), raised $140 million on Sept. 7 through a debt financing from Morgan Stanley. The company said the proceeds will go towards the launch of ZTlido 1.8% lidocaine patch, which FDA approved in February to treat pain associated with postherpetic neuralgia (PHN) (see "FDA Approves Sorrento's Post-Shingles Pain Patch")...