Scilex's subsidiaries sell ACEA Pharma to Phoenix Asia in $1B stock deal, Phoenix to list on Nasdaq.

Scilex Holding Company's subsidiaries, ACEA Therapeutics and ACEA Pharma, have agreed to sell 100% of ACEA Pharma to Phoenix Asia Holdings for $1 billion in newly issued Phoenix shares. Following the acquisition, Phoenix will be renamed ACEA Pharma, Inc. and is expected to be listed on Nasdaq. The deal, approved by all boards, is expected to close by the end of Q2 2026, with ACEA Therapeutics owning about 82% of the new company. This move aims to strengthen the combined company's market presence and accelerate growth in non-opioid pain management and other therapeutic areas.