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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