--- title: "Semnur signs binding term sheet for a $100 million investment from iHolding" url: "https://aibio.space/news/semnur-signs-binding-term-sheet-100-million-investment-iholding/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-07-07" section: "Financings" tickers: "OTC:SMNR" source: "https://www.sec.gov/Archives/edgar/data/1913577/000119312526297085/smnr-ex99_1.htm" summary: "Semnur, a majority-owned subsidiary of Scilex, said iHolding Group LLP would buy $100,000,000 of newly issued common stock at an expected $10.00 per share." --- By the aibio.space news desk. Sources - [Semnur Pharmaceuticals press release, Exhibit 99.1 to Form 8-K](https://www.sec.gov/Archives/edgar/data/1913577/000119312526297085/smnr-ex99_1.htm) - [Semnur Pharmaceuticals Inc. 10-K (2026-02-27): business](https://www.sec.gov/Archives/edgar/data/1913577/000119312526082642/smnr-20251231.htm) - [Semnur Pharmaceuticals Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1913577/000119312526082642/) [SMNR](https://aibio.space/companies/semnur-pharmaceuticals/) 2026-07-07 # Semnur signs binding term sheet for a $100 million investment from iHolding Tickers [SMNR](https://aibio.space/companies/semnur-pharmaceuticals/) Semnur, a majority-owned subsidiary of Scilex, said iHolding Group LLP would buy $100,000,000 of newly issued common stock at an expected $10.00 per share. The proposal remains subject to due diligence and definitive agreements. ## Key facts - **Company**: Semnur Pharmaceuticals Inc. (OTC: SMNR) - **News type**: Financings - **Primary source**: [Semnur Pharmaceuticals press release, Exhibit 99.1 to Form 8-K](https://www.sec.gov/Archives/edgar/data/1913577/000119312526297085/smnr-ex99_1.htm) *A downtown skyline with a highway in the foreground. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Semnur Pharmaceuticals, Inc. (OTC: [SMNR](https://aibio.space/companies/semnur-pharmaceuticals/)) said on July 7, 2026, that it had signed a binding term sheet with iHolding Group LLP. iHolding is a private investment group headquartered in Almaty, Republic of Kazakhstan. The term sheet contemplates that iHolding will buy $100,000,000 of newly issued shares of Semnur common stock. The company expects the price to be $10.00 per share, which would represent approximately 10,000,000 shares. ## The proposed investment The investment remains subject to customary due diligence, the negotiation and signing of definitive agreements, board approvals and other customary closing conditions, including any required regulatory approvals. The release does not give a closing date. A term sheet is not a definitive agreement, and the release says nothing about iHolding's assets, its past investments or how it would fund $100,000,000. The shares trade on the OTC market, not on a national exchange. The company says the proceeds would support the continued advancement of its pipeline, including the ongoing Phase 3 program for SEMDEXA (SP-102). They would also fund product development and commercialization, acquisitions and strategic partnerships, working capital, intellectual property expansion and other general corporate purposes. The release calls the transaction a proposed strategic investment. It describes iHolding as a private investment group focused on strategic capital deployment across healthcare, technology and commercial sectors, one that seeks companies with strong intellectual property platforms and meaningful global growth potential. The release names no underwriter, placement agent or financial adviser for the proposed purchase. iHolding's chairman, Alain Khoueiry, and its chief executive, Byron Byrd, said in a joint statement that the investment "has the potential to become a landmark transaction." The statement describes the deal as part of iHolding's strategy of helping establish Kazakhstan as a regional hub for pharmaceutical manufacturing, research and development, and international distribution. ## The company and its candidate Semnur describes itself as a clinical late-stage specialty pharmaceutical company focused on novel non-opioid pain therapies. Its product candidate, SP-102 (SEMDEXA), is a novel viscous gel formulation of dexamethasone sodium phosphate for epidural injection. The company says it is the first non-opioid novel gel formulation administered epidurally in development for patients with moderate to severe chronic radicular pain, or sciatica. The release says SEMDEXA has FDA Fast Track designation and an advanced Phase 3 clinical development program. Semnur is headquartered in Palo Alto, California, and is a majority-owned subsidiary of Scilex Holding Company. Scilex sells ZTlido, ELYXYB and Gloperba, and it has three product candidates, including SP-102. The company's 10-K describes a business combination consummated on September 22, 2025, in which Denali Capital Acquisition Corp. combined with the private company Semnur. Denali then changed its name to Semnur Pharmaceuticals, Inc. ## Financial position According to SEC XBRL data drawn from the 10-K filed on February 27, 2026, Semnur reported research and development expense of $2.5 million for 2025, compared with $1.7 million for 2024. It reported a net loss of $160.4 million for 2025, compared with $4.7 million for 2024. Cash used in operations was $5.9 million in 2025 and $4.9 million in 2024. Year-end cash and cash equivalents were $12,000 at the end of 2024. The sources available at the announcement date give no year-end 2025 cash balance. Set against cash used in operations of $5.9 million in 2025 and $4.9 million in 2024, a year-end 2024 cash balance of $12,000 shows how little cash the company held of its own, so it has depended on outside money such as this. The release does not give Semnur's cash balance as of the date of the term sheet. Definitive agreements, board approvals and the closing conditions described above all remain to be completed before the proposed investment could close. The release calls the Phase 3 program ongoing and advanced, but it gives no Phase 3 results and no approval date. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story SMNR Semnur Pharmaceuticals Inc. 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Cite as: aibio.space, "Semnur signs binding term sheet for a $100 million investment from iHolding", 2026-07-07, https://aibio.space/news/semnur-signs-binding-term-sheet-100-million-investment-iholding/