Company: OSRH
Filing Date: 2025-01-23
Form Type: CORRESP
Source: 0001213900-25-006143
Chunk: 2

Company: OSR Holdings, Inc.
Filing Date: 2025-01-23
Form: CORRESP
Chunk 2
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 Company redeem all or a portion of such holder’s Series A Preferred            
 Stock in an amount equal to the Redemption Price.                                                                                               |

Response: In response to the Staff’s
comment, the Company revised the disclosures on page F-24 of the Form S-4 to reconcile such disclosures with the amended subscription
agreement.

January 23, 2025

Page 3of 5

| 4. | We note your response to comment 5, including your revised                                                                               
 disclosure on page 181 that “the negotiations regarding the purchase price adjustment were not quantitative, were generally high         
 level in nature, and reflected what the parties ultimately agreed was a fair and equitable adjustment based on the changed circumstances 
 and revised transaction dynamics.” Please revise to briefly discuss these “changed circumstances” and “revised transaction               
 dynamics.”                                                                                                                               |

Response: In response to the Staff’s
comment, the Company revised the disclosures on page 166 of the Form S-4 to briefly discuss the changed circumstances and revised
transaction dynamics.

| 5. | We note your response to comment 8 and your revised disclosure                                                                       
 on page 189 that “the Darnatein valuation model includes an assumption that a $2+ billion licensing deal would be realized and that  
 this assumption has not materialized.” Please revise to include a risk factor noting that the Darnatein valuation model includes     
 an assumption that a $2+ billion licensing deal would be realized, and discussing the risks related to the fact that this assumption 
 has not materialized.                                                                                                                |

Response: In response to the Staff’s
comment, the Company added a risk factor to page 54 of the Form S-4 to (i) note that the Darnatein valuation model includes an
assumption that a $2+ billion licensing deal would be realized, and (ii) discuss the risks related to the fact that this assumption has
not materialized.

| 6. | We note your response to comment 9, including your revised                                                                                       
 disclosure on page 191 that “[i]n light of the age of the report, the BLAC M&A Committee considered (i) changes to the underlying                
 assumptions in the report, including the removal of the COVID-19 program (VXM COVID-19) and the neoantigen program (VXM NEO) from Vaximm’s       
 pipeline, which impacts projected revenues and shifts resource allocation within the company; (ii) changes in the timelines set forth            
 in the report,