Go­ing against the cur­rent, Sor­ren­to spins out pain-fo­cused sub­sidiary in $140M SPAC deal

When Sor­ren­to first un­veiled plans to take its sub­sidiary Scilex pub­lic by merg­ing with the blank check com­pa­ny Vick­ers Van­tage Corp I last De­cem­ber, it was cling­ing to the tail-end of a fad­ing SPAC boom in health­care. In the few months since, the mar­ket has on­ly chilled, with mul­ti­ple deals get­ting axed and those that vault­ed to Nas­daq ear­li­er now strug­gling amid a broad­er biotech down­turn.

None of that, though, is stop­ping Sor­ren­to.

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