Scilex's subsidiaries sell ACEA Pharma to Phoenix Asia for $1B, aiming for Nasdaq listing by Q2 2026.

Scilex Holding Company's subsidiaries, ACEA Therapeutics and ACEA Pharma, have agreed to sell 100% of ACEA Pharma to Phoenix Asia Holdings Limited for $1 billion. In exchange, ACEA Therapeutics will receive 100 million new shares of Phoenix Asia at $10 each. Post-acquisition, Phoenix Asia will be renamed ACEA Pharma, Inc. and is expected to list on Nasdaq by the end of Q2 2026. ACEA Therapeutics will hold approximately 82% ownership of the new entity, pending regulatory approvals.