Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 679

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 679
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 opportunity of DRT -101relies on novel Mechanism of Action of DRT -101that can lead to potential first -in-classDMOAD (Disease -ModifyingOsteoarthritis Drug) in the market. Darnatein is pursuing pre -clinicalstudies of DRT -101targeting osteoarthritis and plans to file Investigational New Drug Application (IND) to the U.S. Food and Drug Administration by 2025 for Phase 1 clinical trial, with aims of FDA approval by 2032. Darnatein will seek to create cashflow via licensing deals from the preclinical and clinical developments of its pipeline assets.

F-134

33. Business combinations (cont.) Details of patent technology recognized from the acquisition of VAXIMM that occurred for the year ended December 31, 2022 are set forth in the table below.

| (Korean won in thousand)        |     |           Amount |
| Patent technology project code: |     |                  |
| VMX01-GBM (ROW and China)       |     | ₩     15,481,599 |
| VMX01-mCRC (ROW and China)      |     |       27,256,642 |
| VMX01-Liver (ROW and China)     |     |       41,927,472 |
| VMX01-NF2 (ROW and China)       |     |       16,214,016 |
| VXM-Preclinical                 |     |       29,047,708 |
| Total fair value                |     |   ₩  129,927,438 |

____________ (*)Rest of the world (“ROW”) represents 7 major countries except China. These markets were separated purely from a licensing perspective, as the pre -determinedterms would be applied when licensing out its technologies due to the license agreement with China Medical System Corp. (1) VXM01 VXM01 is an oral T -cellimmunotherapy that is designed to activate T -cellsto attack the tumor vasculature and tumor cells. VXM01 carries the vascular endothelial growth factor receptor -2(VEGFR2), which is highly overexpressed on the tumor vasculature. The active, T -cell-mediateddestruction of tumor vasculature cells leads to an increased infiltration of various immune cells into tumor tissue.

| Project code |     | Supplementary explanation of project                                                                                                                                                                                                                                                                                                                                                                                                                           |
| VXM01-