July 2 (Reuters) - Drug developer Semnur Pharmaceuticals said on Tuesday it has signed a letter of intent to go public through a merger with special purpose acquisition company Denali Capital Acquisition Corp in a pre-transaction equity deal valued at up to $2 billion.

Semnur is a unit of Scilex Holding. (Reporting by Mariam Sunny in Bengaluru; Editing by Krishna Chandra Eluri)