Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 676

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 676
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 ended December 31, 2022 |     |                 |                    |     |                    |     |                |     |                |
|:---------------------|:----|:-------------------------------------|:----|:----------------|:-------------------|:----|:-------------------|:----|:---------------|:----|:---------------|
| Beginning            |     | Cashflow                             |     |                 | Non-cash movements |     |                    |     | Ending         |     |                |
| Interest             
 expense              |     | Others                               |     |                 |                    |     |                    |     |                |     |                |
| Lease liabilities    |     | ₩     38,698,274                     |     | ₩   (28,290,000 | )                  |     | ₩        3,697,321 |     | ₩  360,340,584 |     | ₩  374,446,179 |

33. Business combinations The Parent acquired Darnatein (a novel drug development company) (referred as the “Acquiree” herein) as it executes on its business plan to further expand its business by discovering and investing in innovative healthcare companies with cutting -edgetechnology and creating operating synergies between subsidiaries. As the Parent and the Aquiree former owners exchanged only equity interests in business combination transactions and the acquisition -datefair value of the Parent’s equity interests could not reliably be measured, the Parent determined the amount of goodwill by using the acquisition -datefair value of the Acquiree equity interests instead of the acquisition -datefair value of the shares transferred. Vaximm and Darnatein can be reasonably categorized as “(bio)platform companies” which differ from the companies only with drug development pipelines. Bioplatforms can be defined as biotechnologies that, once created and harnessed, allow for the intentional and repeatable generation of multiple medicines or agricultural and sustainability products. Both Vaximm and Darnatein are biotech companies whose drug R&D pipelines are based on their own in -houseplatform technologies that are protected by either patents or trade secrets. According to the “hub -and-spoke” business model of OSR Holdings, the Parent has assumed the position to either own or control the technology platforms of Vaximm and Darnatein through business combinations, which means that the Parent will be able to launch new services to external clients or create additional drug candidates by