Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 282

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 282
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 together with the experience of their representatives, also enabled them to make the necessary analyses and determinations regarding the Business Combination. For further details, see “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination — Fairness Opinion of Choloc Asset Investment Advisory Co., Ltd.” 167 Before reaching its decision, the BLAC M&A Committee reviewed the results of the due diligence conducted by BLAC management on OSR Holdings. The due diligence conducted included: •both virtual and in person meetings and calls with BLAC’s management team and OSR Holdings regarding operations and clinical studies; •research on public comparable companies with similar indications and modality as OSR Holdings; •discussions with other potential target companies, many of which expressed disinterest with BLAC’s long -termgoal of operating multiple healthcare assets in a hub -and-spokefashion; •review of intellectual property matters; •review of financial, tax, legal, insurance and accounting due diligence; •review of presentations prepared by OSR Holdings, which included details on OSR Holdings’ and its subsidiaries’ management teams, addressable markets, asset pipelines, and scientific information regarding their product candidates; •consultation with legal advisors and industry experts; and •industry track record of the OSR Holdings management team. BLAC management and the BLAC M&A Committee considered the following material findings as a result of its and BLAC’s legal counsel’s due diligence conducted on OSR Holdings. The BLAC M&A Committee determined that the material findings supported the BLAC M&A Committee’s and the BLAC Board’s decision that the Business Combination with OSR Holdings would be fair to, advisable, and in the best interests of BLAC and its stockholders for reasons listed below: Significant Market Opportunities Recurrent Glioblastoma (rGBM) Market GBM, the most common brain tumor in adults, is usually rapidly fatal and has very limited therapy options. The current standard of care consists of surgery followed by radiation and temozolomide (TMZ). Roche’s Avastin is the only targeted therapy approved for recurrent GBM (US and Japan), which has not demonstrated a survival benefit. GBM patients have an overall survival of between one and two years and median survival of 14.6 months under radiotherapy plus temozolomide treatment. 1 The global GBM treatment market was valued at $5.14 billion in 2020 and is anticipated to reach $10.2 billion by 203