Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 904

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 904
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iated Situation We will focus on target companies that exhibit unrecognized value or other characteristics that we believe have been misevaluated by the marketplace based on company-specific analyses and due diligence. For a potential target company, this process will include, among other things, a review and analysis of the company’s technology platform Annex I-7 and/or licensed technologies, intellectual property (“IP”) position, preclinical and any clinical data, potential for operational improvements, manufacturing competitiveness, corporate governance, pharmaceutical partners or scientific collaborators, customers, material contracts, and industry needs and trends. We intend to leverage our team’s collective operational experience and disciplined investment approach to identify opportunities to unlock and maximize value. These criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our management may deem relevant. From our review, OSR’s pipeline of assets primarily consists of biologics, including DNA cancer vaccines, engineered (“design-augmented”) chimeric protein. Certain assets include technology/research platforms geared toward target engagement and increased therapeutic index, which can be seen as a novel approach as well as in view of greater precision medicine. In this respect, the OSR franchise and portfolio fits the Investment Criteria. Each OSR asset is geared toward a specific unmet need and technology approach. The OSR team is a cross-functional team with a core expertise and ecosystem adapted to the current type and stage of assets in its portfolio. Consequently, we find that it is fair to consider that the OSR business corresponds to the Investment Criteria of BLAC. 6.Fairness Opinion in connection with the Value of the Aggregate Consideration Novel, innovative and potentially commercially-viable biomedical products in research and clinical development are inherently difficult to make accurate fair valuation estimates. Results in drug developments are often binary. Novel pharmaceutical products in development are heterogeneous, often with unique benefits and adverse features, meaning that there are often no useful, direct comparables. Also, these product development projects provide no reasonable periodic income or profit that can be capitalized at an objective yield or multiple. Trying to predict the probability and financial impact of achieving key development milestones and market potential is highly speculative, even on active markets. The business model of biotech companies requires long capital-intensive R&D periods without revenues. As a result, the value and value development of projects, pipelines and companies are event driven. The assets are mostly intangible, in the form of IP and scientific data