Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 672

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 672
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 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 a new start -upor joint venture with business partners based on their direct ownership or control over the platform technologies acquired from business combinations. Such quality would support the goodwill recognition.

F-131

33. Business combinations (cont.) 33.1 Summary of business combinations Details of business combinations that occurred for the years ended December 31, 2023 and 2022 are as follows:

| (Korean won in unit) |     |                            |     | For the years ended December 31, 2023 |     |           |   |     |                     |
|:---------------------|:----|:---------------------------|:----|:--------------------------------------|:----|----------:|:--|:----|:--------------------|
| Acquiree             |     | Main business              |     | Acquisition                           
 date                                  |     | Ownership 
       (%) |   |     | Total               
 consideration       |
| Darnatein            |     | New drug development, etc. |     | 2023-03-31                            |     |     100.0 | % |     | ₩   105,004,724,500 |

Details of business combinations that occurred for the year ended December 31, 2022 are as follows:

| (Korean won in unit) |     |                                  |     | For the years ended December 31, 2022 |     |           |   |     |                         |
|:---------------------|:----|:---------------------------------|:----|:--------------------------------------|:----|----------:|:--|:----|:------------------------|
| Acquiree             |