Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 251

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 251
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confidentialcompany presentation to BLAC for review. Further emails were exchanged between BLAC/OSR Holdings and Broker to arrange a meeting in Korea with Company D and a Korean biopharma company with a controlling stake in Company D (“Parent D”). Mr. Whang met with Broker in New York City on April 12, 2023 to further discuss Company D and BLAC’s business combination strategy. 149 By way of further background, Parent D was formerly in the lifesaving boat business. Parent D acquired an American lifeboat company in the U.S. in 2009, and until then, had no prior involvement or business interest in the biotech space. For reasons unknown to BLAC, the US company acquired by Parent D held a controlling stake in an early -stagebiotech. Post -takeover, Parent D management took an active interest in the acquired biotech investment and determined the company presented significant business opportunities, which led to the launch of Parent D specifically in the Korean biotech space. After 14 years of drug development progress, earlier in 2023, the acquired biotech company submitted a New Drug Application to the US Food and Drug Administration for its investigational drug, rivoceranib, for use in combination with an approved drug, camrelizumab, in China for unresectable hepatocellular carcinoma. Subsequent to its acquisition of Company D, Parent D transformed into one of the most visible biopharma groups in Korea. Subsequent to Mr. Whang’s meeting with Mr. Shin, on or about July 3, 2023, the newly -appointedCFO of Parent D requested a meeting with OSR Holdings as he had heard about Vaximm’s (a subsidiary of OSR Holdings) recent activity developing therapeutics in the glioblastoma space in Switzerland. Parent D’s CFO is not a scientist by training nor a professional with specific pharmaceutical drug development expertise but is experienced in the Korean capital markets/finance industry. The CFO of Parent D and Mr. Hwang also share a mutual acquaintance. As of late July 2023, OSR Holdings planned to have discussions with Parent D and Company D representatives regarding a potential business combination, and other potentially mutually beneficial business opportunities and synergies. Based on timing considerations and the need to proceed with an identified target company, the decision was made to cease discussions with Company D. Company E On April 17, 2023, another potential target company (“Company E”) was introduced to BLAC by Mr.