<div class="body-Xl9a4Ubk body-nzzZVyQ3 content-nzzZVyQ3"><div class="symbolsContainer-uFduEtAF logosContainer-diQOvrPB"></div><div>OSR Holdings signed a Global Exclusive License Agreement granting BCM Europe worldwide rights to develop and commercialize VXM01, its oral DNA-based cancer immunotherapy platform. The deal includes up to $815 million in potential milestone payments, a royalty pass-through after investment recovery, and an equity put option allowing OSR to sell up to $15 million of common stock at $10.00 per share within a specified post-effectiveness window. In a related step, BCM Europe and affiliates agreed to pledge 9,974,728 OSR shares as collateral to secure milestone obligations, with the pledge becoming effective on Feb. 15, 2028, after lock-up restrictions expire.Agreement 1: OSR Holdings Grants Global VXM01 License to BCM Europe With Up to $815 Million Milestones<ul><li>Agreement type: Global exclusive license agreement for VXM01 immunotherapy platform</li><li>Counterparty: BCM Europe</li><li>Signed / Effective: Apr 29 2026 / Apr 29 2026</li><li>Duration / Termination: N/A</li><li>Reason: Monetize and advance VXM01 via partner-led development</li></ul>Agreement 2: BCM Europe and Affiliates Pledge 9.97M OSR Holdings Shares to Secure License Milestones<ul><li>Agreement type: Pledge agreement securing milestone obligations with company shares</li><li>Counterparty: BCM Europe; Bellevue Capital Management; Bellevue Global Life Sciences Investors</li><li>Signed / Effective: Apr 29 2026 / Feb 15 2028</li><li>Duration / Termination: N/A</li><li>Reason: Secure milestone payments under the license</li></ul>Original SEC Filing: OSR Holdings, Inc. [ OSRH ] - 8-K - Apr. 30, 2026<section>Disclaimer<div class="content-aHOVUrmQ link-with-underline-aHOVUrmQ">This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.</div></section></div></div>

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OSR Holdings has entered into a Global Exclusive License Agreement with BCM Europe for the development and commercialization of VXM01, a cancer immunotherapy platform, with potential milestone payments of up to $815 million. The agreement includes a royalty pass-through and an option for OSR to sell $15 million of common stock at $10 per share. Additionally, BCM Europe will pledge nearly 10 million OSR shares as collateral for milestone obligations, effective February 15, 2028, after lock-up restrictions expire.

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OSR HOLDINGS INC C/WTS 09/02/2028 (TO PUR COM)

OSR Holdings Licenses VXM01 Globally to BCM Europe for Up to $815 Million; Share Pledge Secures Milestones