Diligence memo · auto-generated · as of July 2, 2026
Scilex Holding Co
Scilex Holding Co looks under-valued against its niche peers and is active on financing cadence.
Businessfiled
Scilex Holding Co operates in Biotechnology, based in Palo Alto.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Scilex Holding Co has raised $105M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).
Largest single filing: $102M on 2023-09-21.
Most recent recorded round closed around 2025-09-30.
Valuation (modeled)modeled
Provath models Scilex Holding Co at approximately $20M (range $12M–$24M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Under-valued. Modeled value is 0.02× the median modeled value of Series D+ Biotechnology companies in 2025–2027 (33 peers) — value vs value, same stage and era. Issuer reports $25M–$100M revenue while modeled below niche peers.
Financing rhythm & timingmixed
Historic cadence: a new round about every 24 months.
Last raise 9 mo ago; this sector typically re-raises about every 14 months.
Raising on or ahead of the sector's normal rhythm.
The last round was 37.9× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 90% of Biotechnology peers (4293 compared).
Modeled value ranks above 28% of those peers.
Closest niche peers: Kriya Therapeutics, Inc., Pathos AI, Inc., Sensei Biotherapeutics, Inc., Odyssey Therapeutics, Inc., Rhodenergy An Environmental Co Corp.
Peoplefiled
7 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.