1. CORPORATE PRESENTATION
ANTHONY MACK, PRESIDENT & CEO
WILLIAM PEDRANTI, COO
© 2014 SCILEX Pharmaceuticals, Inc. All Rights Reserved.

2. Forward Looking Statements
Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of These forward-looking statements by the Company are based on current expectations, estimates and projections about the Company's product, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here.
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3. SCILEX INVESTMENT HIGHLIGHTS
Focus on the development and commercialization of late-stage products for the treatment of pain (100+ million Americans have chronic pain)
Particular focus on high barrier to entry products such as transdermals ($32 Billion U.S. Market in 2015)*
Strong Management Team with experience marketing multiple pain products (Lidoderm®, OxyContin®)
Ztlido™ (lidocaine patch 1.8%), is a branded, fourth-generation transdermal lidocaine patch formulated for the treatment of the pain associated with post-herpetic neuralgia, or PHN, a chronic, painful condition that may
follow a shingles infection
The FDA concurred that a single powered bioequivalence study of Ztlido™ vs. Lidoderm® would be sufficient for submission of Ztlido™ under Section 505(b)(2)
Ztlido™ has potential superior qualities to Lidoderm-a product (branded and generic) that generated $1.45 billion
in U.S. sales in 2013**; potential launch is 2H 2015
** IMS
(TM) Ztlido IS A TRADEMARK OF SCILEX. All other trademarks are the property of their respective owners. *
** IMS 2014

4. We Know Pain & Transdermals
MANAGEMENT TEAM
Anthony Mack
Chief Executive Officer
Experienced pharmaceutical executive who has driven the successful commercialization of leading pain products
Held management positions with Purdue Pharma, Endo Pharmaceuticals, Novartis and EKR Therapeutics
President and Founder of ProSolus Pharmaceuticals
M.B.A. in Pharmaceutical and Healthcare Marketing and B.S. in Business Management
More than 20 years of industry experience
William Pedranti
Chief Operating Officer
Helped raise over $200 MM through financial transactions
Over a decade of experience as legal counsel and senior executive for pharmaceutical and biotech
Past Vice-President and General Counsel for Spectrum Pharmaceuticals. Provided corporate, transactional, regulatory and M&A advice to companies at Latham and Watkins, LLP
Richard Cohen
Chief Financial Officer
Past President and Member of the Board of CorMedix Inc.
Former Member of the Board of Dune Energy Inc.  
Past Director and Chairman of the Audit Committee of Rodman and Renshaw
BOARD OF DIRECTORS
Eric Floyd, PhD
VP, Global Regulatory Affairs
H. Lundbeck AS (current)
PhD, Neurophysiology
Jerrold Sendrow
CFO & Director, 800 Travel Systems (past)
VP-Finance, Columbia Travel Group (past)
SCIENTIFIC ADVISORY BOARD
Jeffrey Gudin, MD
Anesthesiologist, Pain Specialist
Charles Argoff, MD
Neurologist, Pain Specialist
Srinivas Nalamachu, MD
Internal Medicine, Pain Specialist
Kip Vought
Regulatory and Strategic Development Consultant

5. SCILEX™ Pharmaceuticals Launched
Company Milestones
H2, 2015
Ztlido™ Launch
September, 2013:
-Pilot PK study demonstrates evidence of bioequivalence to Lidoderm®
2014
April, 2013:
-Acquired Latin American Rights to Ztlido™
Q1, 2015:
-NDA Filing
February, 2013:
-Commercial rights to Lidocaine
transdermal tape (Ztlido™) for US
and Canada
Q3, 2014:
-Potential Initial Public Offering
-Commenced dermal safety
studies of its Ztlido™
July, 2012:
-SCILEX held its first of three
strategic meetings with its
Japanese Partner
Q2, 2014
-Pivotal Study (May)
April, 2012:
-FDA concurrence on 505(b)(2)
Q1, 2014:
-IND filing (Feb)
2012
SCILEX™ Pharmaceuticals Launched
Ztlido™ IS A TRADEMARK OF SCILEX

6. The transdermal market for pain

7. Transdermal Market Outlook
The transdermal drug delivery market is set to grow from $21 Billion in 2010 to $32 Billion by *
Pain is the largest segment in the pipeline of transdermal drugs under development.
High barriers to entry make this market attractive for branded drugs with novel delivery systems despite generics.
Transdermal Market Outlook *
Source: Medtrack, September 2013, Copyright Informa UK; company websites

8. Ztlido™ 1.8% LIDOCAINE (36 MG) TRANSDERMAL PATCH
Potential Benefits:
Superior Adhesiveness
Better pliability & flexibility
ZTL 1.8% (36 mg lidocaine) delivers equivalent analgesic intensity as Lidoderm 5% (700 mg lidocaine)
Ztlido™ 1.8%
The Zero H2O Transdermal Lidocaine Patch
Introducing….
LIDOCAINE (36 MG) TRANSDERMAL PATCH
Ztlido™ is primed to capitalize on the Billion Dollar market created by Lidoderm®

9. ZTLIDO’s POTENTIAL ATTRIBUTES MAKE IT BEST IN CLASS FOR THE TREATMENT OF PAIN ASSOCIATED WITH PHN
36 mg lidocaine vs. 700 mg lidocaine for Lidoderm®
Less active ingredient perceived to be safer by physician
FDA concerned with disposal of used Lidoderm patches
Approximately half the manufacturing cost due to no water content
Potential to load Ztlido™ with higher lidocaine doses for maximum performance
Superior adhesiveness
Better compliance (concerns about Lidoderm® patches falling off)
Potential for indication expansion e.g. low-back pain
Superior adhesion and pliability has potential to expand market
Top prescriber survey suggests potential uses in active joints such as wrists, knees, ankles and neck
Generics (Hydrogels -Lidoderm®) cannot compete

10. Projected timeline to approval
R&D Budget and FDA Expense
Status/ Completion
Initial formulation with stability
Completed
Pilot PK study
Second Pilot PK Study
Pre IND meeting correspondence
Completed (April 2012)
Stability batch
Started Nov. 2012
MiniPig Toxicity Study
Third Pilot PK Study
IND Submission (Clinipace)
Pivotal PK Study
Photoallergy/Phototoxicity Studies
Heat Overlay Study
Irritation/Sensitization Study
Final Audited Reports Due
November 2014
NDA Submission
Expected 1Q 2015
with a POTENTIAL 10 month review PROCESS for 505(b)(2):
Ztlido™ could be approved BY H2, 2015

11. POTENTIAL Line Extensions Offer Dosing Flexibility
Product
Lidocaine loading dose per patch vs. Ztlido™ potential loading dose
Titration
Lidoderm® (Lidocaine Patch 5%) Hydrogel Patch
700 mg No
Ztlido™ 1.8%
36 mg
Yes
Ztlido `3.6%
72 mg
Ztlido `5.4%
108 mg
Ztlido™ has the potential to gain regulatory approval for applications for the treatment of pain associated with PHN. Multiple strengths would enable clinicians to adjust the dosage, hence, the patient’s therapy may be individualized.

12. MYOFASCIAL SYNDROME (LOW BACK PAIN) Potential Indications
Ztlido™ LIFE CYCLE MANAGEMENT

13. Low Back pain- A significant unmet medical need
Over 31 MM cases per year
>$50 Billion annual spent*
No. 1 cause of disability
Mostly mechanical in nature
Various treatment options:
OTC medications, anti-convulsants, anti- depressants
Opioids
Neural stimulation
Nerve blocking agents (local anesthetics, steroids, anti-inflammatory, etc)
Surgery (vertebroplasty, kyphoplasty) *

14. Potential Franchise Pipeline
Regulatory
Pilot PK
Phase 1
Phase 2
Phase 3
NDA
Ztlido™1.8%
(36 mg lidocaine)
505(b)(2) Bio-equivalence to Lidoderm 5%
For the treatment of pain associated with PHN
Pivotal BE Study Started May, 2014 Q1
2015
Ztlido 3.6%/5.4%
(72/108 mg lidocaine)
Pre-IND Discussion (H2, 2014)
Myofascial syndrome
(low back pain)
Pre-IND Discussion (H1, 2015)

15. SCILEX INVESTMENT HIGHLIGHTS
Focus on the development and commercialization of late-stage products for the treatment of pain (100+ million Americans have chronic pain)
Particular focus on high barrier to entry products such as transdermals ($32 Billion U.S. Market in 2015)*
Strong Management Team with experience marketing multiple pain products (Lidoderm®, OxyContin®)
Ztlido™ (lidocaine patch 1.8%), is a branded, fourth-generation transdermal lidocaine patch formulated for the treatment of the pain associated with post-herpetic neuralgia, or PHN, a chronic painful condition that may follow
a shingles infection
The FDA concurred that a single powered bioequivalence study of Ztlido™ vs. Lidoderm would be sufficient for submission of Ztlido™ under Section 505(b)(2)
Ztlido™ has potential superior qualities to Lidoderm-a product (branded and generic) that generated $1.45 billion
in U.S. sales in 2013**; potential launch is 2H 2015
** IMS
(TM) Ztlido IS A TRADEMARK OF SCILEX. All other trademarks are the property of their respective owners. *
** IMS 2014

16. Contact Information
For additional information please contact: William Pedranti SCILEX Pharmaceuticals, Inc. 101 Lindenwood Drive, Suite 225 Malvern, PA Cell: Office:

17. Foundation of Successful Collaborations
SCILEX™ has relationships with leading companies in their respective fields:
Japanese Research Development and Manufacturing Partner Founded in 1907
Japanese pharmaceutical research, development and manufacturing partners
Transdermal manufacturer sells to large pharma
David Rosen, Partner at Foley & Lardner LLP
Handled the pre-IND meeting correspondence with FDA
Previously worked at FDA over 10 years
Chaired 505(b)(2) initiative
Dr. Jeff Gudin, Pain Consultant
Director, Pain Management and Palliative Care, Englewood Hospital and Medical Center
President, Medical Education Consultants
Yale University School of Medicine, Fellow, Pain Management, 1996 – 1997

18. Foundation of Successful Collaborations
SCILEX™ has relationships with leading companies in their respective fields:
Ken Smith, Ph.D. (IP Counsel)
Previously, Chief IP Counsel for Alpharma
VP of Intellectual Property for Sanofi-Aventis
Beckloff Associates/Cardinal Health (Manufacturing Audit)
Conducted Manufacturing Audit of Japanese Partner
cGMP Audit and Consulting
Clinipace Worldwide (CRO)
Regulatory, Pre-Clinical and Clinical
Preparing the IND; CRO chosen for Ztlido™
BDO USA LLP
Auditor