Scilex Pharma Enters Definitive Mutual Release And Settlement Agreement With Virpax

(RTTNews) - Scilex Holding Company (SCLX) said the U.S. Bankruptcy Court for the Southern District of Texas, in connection with the bankruptcy proceedings of Sorrento Therapeutics, Scilex's former controlling stockholder, approved the settlement and mutual release agreement between Scilex's subsidiary, Scilex Pharmaceuticals and Sorrento, on the one hand, and Virpax Pharmaceuticals, on the other hand. Virpax is obligated to make the payments to Scilex: $3.5 million by March 18, 2024; and $2.5 million by July 1, 2024.

Pursuant to the definitive settlement agreement, each of the Plaintiffs and Virpax provide mutual releases of all claims that exist as of March 14, 2024.

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