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."
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