Day: April 13, 2022

PALO ALTO, Calif., April 12, 2022 (GLOBE NEWSWIRE) — Scilex Holding Company (“Scilex”), a nearly 100% (or over 99.9%) majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), a commercial biopharmaceutical company focused on developing and commercializing non-opioid therapies for patients with acute and chronic pain, announced the appointment of Laura Hamill, an accomplished pharmaceutical and biotechnology executive, to its Board of Directors. Ms. Hamill brings to the Scilex board more than three decades of experience in the biopharma industry, serving most recently as Executive Vice President, Worldwide Commercial Operations at Gilead Sciences, Inc. Prior to Gilead, she spent 18 years at Amgen Inc. in a number of leadership roles in the U.S. and internationally, concluding her time there as Senior...

HOUSTON, April 12, 2022 (GLOBE NEWSWIRE) — ION Geophysical Corporation (NYSE: IO) and certain affiliates (“ION” or the “Company”) today announced that, after evaluating a variety of strategic alternatives, it has filed for voluntary Chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division (the “Bankruptcy Court”) as it explores a value-maximizing transaction that will strengthen the Company’s balance sheet and position ION for sustained future success. In connection with the Chapter 11 filing, ION entered into a Restructuring Support Agreement (the “RSA”) with the lenders under its Credit Agreement and holders of approximately 80% of its 2025 Notes, whereby the parties agreed to support the Company’s Chapter 11 plan of reorganization (the “Plan”). The Company and the consenting creditors...