Pharma BD Deal Intelligence
OSR Holdings (Nasdaq: OSRH) executed a definitive global exclusive license agreement (dated April 29, 2026) granting BCM Europe AG (BCME) — OSRH's largest shareholder at ~29.7% — worldwide rights to develop, manufacture, commercialize and sublicense VXM01, an oral live-attenuated Salmonella-vectored DNA immunotherapy targeting VEGFR-2 (Phase 2b-ready in recurrent glioblastoma). The structure provides OSRH up to $815M in clinical/regulatory/commercial milestone payments plus 100% downstream royalties after BCME recovers its investment and a preferred return, with BCME pledging its ~29.7% OSRH stake as collateral; an independent fairness opinion (Avance Life Sciences) supported the related-party deal. On May 27, 2026 OSRH signed a definitive Asset Purchase Agreement to acquire the full VXM01 IP portfolio from its Swiss subsidiary Vaximm AG for $30M, with the payment deferred until the first BCME milestone event (completion of a Phase 2 study in glioblastoma or pancreatic ductal adenocarcinoma); the license remains intact and the CEO reaffirmed it as a major oncology milestone in a May 12, 2026 shareholder statement.