SRNE - Sorrento Therapeutics subsidiary Scilex to acquire Ancora Medical
- Scilex Holding Co., a subsidiary of Sorrento Therapeutics ( NASDAQ: SRNE ), is acquiring privately held medtech Ancora Medical .
- Ancora's key asset is its Nerve Block Catheter Set for surgical pain management during the pre-operative, perioperative and post-operative periods associated with general and orthopedic surgery. Doctors use the device to locate peripheral nerves.
- Financial terms were not disclosed.
- The companies said the worldwide peripheral nerve block catheter market is estimated to exceed $740.7M by 2027.
- Sorrento ( SRNE ) is viewed as a hold by Seeking Alpha's Quant rating with poor grades for valuation, growth, and profitability .
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Sorrento Therapeutics subsidiary Scilex to acquire Ancora Medical