MALVERN, Pa., March 31, 2015 /PRNewswire/ -- SCILEX
Pharmaceuticals, Inc., a company engaged in the development and
commercialization of products focused on the treatment of pain,
today announced that ITOCHU CHEMICAL FRONTIER Corporation (ICF,
Tokyo Japan), a member of ITOCHU
Corporation (Tokyo: 8001;
OTC-PINK: ITOCY), one of the three leading sogo shosha (general
trading companies) in Japan, has
made a strategic investment in SCILEX. ICF has worked closely
with SCILEX as an advisor and development partner for its flagship
product under development, ZTlido™ since 2013. This investment by
ICF is its first in a U.S. pharmaceutical company and makes ICF
SCILEX's largest investor.
"SCILEX has identified a niche in which it can be globally
competitive and we are excited by the company's potential," ICF's
pharmaceutical division director and managing executive officer
Toshinari Hidekuma said. "We look forward to working together
further, to bring ZTlido's unique patch delivery system to the
market."
Remarking on the partnership, SCILEX co-founder and chief
executive officer Anthony Mack said:
"We are delighted to have the endorsement of a globally recognized
strategic partner. Partnering with ICF will enable us to draw on
their deep networks and expertise to help develop and commercialize
our products in a global marketplace."
About ITOCHU and ICF
The history of ITOCHU Corporation dates back to 1858 when the
Company's founder Chubei Itoh commenced linen trading operations.
Since then, ITOCHU has evolved and grown over 150 years.
With approximately 130 bases in 65 countries, ITOCHU, one of the
leading sogo shosha, is engaged in domestic trading, import/export,
and overseas trading of various products such as textile,
machinery, metals, minerals, energy, chemicals, food, information
and communications technology, realty, general products, insurance,
logistics services, construction, and finance, as well as business
investment in Japan and
overseas.
As a member of ITOCHU group, ICF is a core operation company
with a mission to contribute to the improvement of human health and
life through its global business dealings in the fields of
pharmaceuticals, life-science products, performance products,
specialty chemicals, and functional polymers.
About SCILEX Pharmaceuticals
SCILEX Pharmaceuticals, Inc., located in Malvern, PA, is an
emerging specialty pharmaceutical company engaged in the
development and commercialization of products for the treatment of
pain. The Company's vision is to become a world-class, global
pharmaceutical company that delivers the next generation of
innovative products. Leveraging its network of global
relationships, the Company seeks to acquire high barrier-to-entry,
late-stage products for development and commercialization.
The Company's first product under development, ZTlido™, is a
next-generation patch formulation for the treatment of pain.
For more information visit www.scilexpharma.com.
CONTACT:
SCILEX Pharmaceuticals, Inc.
William Pedranti
949-413-2672
wpedranti@scilexpharma.com
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SOURCE SCILEX Pharmaceuticals, Inc.