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Mergers & AcquisitionsMedium•5 May 2026•

1 min read

Scilex Holding Signs $1 Billion Deal to Sell ACEA Pharma to Phoenix Asia

Key Facts

1Scilex Holding Company entered into an agreement to sell 100% of its subsidiary ACEA Pharma to Phoenix Asia Holdings Limited.

2The acquisition is valued at $1,000,000,000, to be paid via 100,000,000 newly-issued Phoenix ordinary shares at $10.00 per share.

Scilex Holding Company has announced a definitive agreement to sell 100% of its subsidiary, ACEA Pharma, to Phoenix Asia Holdings Limited. The transaction is valued at approximately $1 billion and will be executed through an all-stock consideration. Under the terms of the deal, Phoenix Asia will issue 100 million newly-issued ordinary shares to Scilex at a valuation of $10.00 per share. This strategic divestment allows Scilex to transition its direct interest in ACEA Pharma into a significant equity stake within Phoenix Asia. The move is seen as a major restructuring effort to optimize Scilex's biopharma portfolio and strengthen its financial positioning. Market analysts view the billion-dollar valuation as a significant milestone for the mid-cap firm, despite the non-cash nature of the payment.