Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 906

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 906
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 2012 and 2020 evaluating a total of 12,728 clinical and regulatory phase transitions from 9,704 development programs, across 1,779 companies, we selected the LOA for Immuno-Oncology from the Oncology Sub-category dataset and Protein from Novel Modalities dataset, for the rNPV model assumptions of Vaximm and Darnatein respectively. Oncology sub-category phase transition success rates and LOA Annex I-10 Phase transition success rates for drugs based on modality Based on conversation with OSR management and our own research, we allocated a specific LOA set to each project to reflect their own characteristics and added early-stage chance of successes (from Discovery to IND/CTA stage). To be noted that both subsidiary specific G&A and OSR G&A were not adjusted for risk in our models, and therefore, only discounted. Annex I-11 Determination of the Discount Rate The discount rate provides the hypothetical rate at which the stakeholders want their capital to accrete. There are two major classes of stakeholders, debtholders/bondholders, and stockholders. Both require compensation for the risk of their investment into a company. We reviewed the weighted average cost of capital (WACC) calculations used by AF for adequacy of the assumptions and adopted the information as provided in AF’s valuation models on Vaximm and Darnatein as follows: WACC calculation for Darnatein Annex I-12 WACC calculation for Vaximm Determination of other inputs In connection with this rNPV valuation work, our investigation and analysis included, but were not limited to the following: •Reputable industry databases, including Globaldata; •Reputable literature in the biopharma sector or regarding listed companies, including but not limited to publications from the Tufts University, the HBR (Harvard Business Review), publications edited by specialty editors such as Nature, The Lancet or Frontiers, and news and reports from specialty news providers in the biotech industry including but not only limited to Fierce Biotech, Endpoints News or Medscape; •Reports published by biotech associations and public research institutes notably, but not only, the BIO in the United States, the Swiss Biotech Association and Korea Health Industry Development Institute; •Publicly available information from other biotech, large biopharma companies, early-stage venture funds and specialty consultancies, listed and privately held, including but not limited to companies´ website content, reports and posters, press releases and SEC filings; •