Pharma BD Deal Intelligence

BCM Europe AG / OSR Holdings, Inc.

2026 · Licensing/Option · $815M · Complete

Outcome grade pending — assessed 5 years post-close.

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The coverage arc

Mar 26, 2025 PR Newswire (Vaximm) Bullish

Vaximm AG announced that VXM01, an investigational oral anti-VEGFR vaccine, was found safe and showed early signs of efficacy in combination with avelumab…

Apr 29, 2026 TipRanks (The Fly) Neutral

OSR Holdings (OSRH) entered a $815 million global license agreement for VXM01 with BCM Europe, which already owns approximately 29.7% of OSRH and pledged its…

May 27, 2026 SEC 8-K (OSR Holdings) Neutral

Form 8-K (filed ~May 2026): OSR Holdings entered an Asset Purchase Agreement with Vaximm AG (indirect Swiss subsidiary) dated May 27, 2026 to acquire, free and…

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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.

Key facts

Related deals — scored

DealYearValueOutcome
BCM Europe AG / OSR Holdings, Inc. (this deal)2026$815M
AstraZeneca PLC / Daiichi Sankyo Company, Limited2019$6.9B100
Novartis AG / Endocyte, Inc.2018$2.1B96
Astellas Pharma Inc. / Seagen Inc.2009$4.5B95
Bristol-Myers Squibb Company / Medarex Inc.2009$2.4B92
Servier / Agios Pharmaceuticals (oncology)2020$2.0B91
Servier Pharmaceuticals LLC / Agios Pharmaceuticals Inc.2020$2.0B91

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