OSR Holdings Executes Definitive $815 Million Global License Agreement for VXM01 with BCM Europe Largest shareholder pledges entire equity stake as collateral for milestone obligations, reinforcing alignment with public

OSR Holdings Executes Definitive $815 Million Global License Agreement

for VXM01 with BCM Europe

Largest shareholder pledges entire equity

stake as collateral for milestone obligations, reinforcing alignment with public shareholders

Bellevue, WA - April 29, 2026

- OSR Holdings, Inc. (NASDAQ: OSRH) today announced that it has entered into a definitive global exclusive license agreement (the

"Agreement") with BCM Europe AG ("BCME") for the development, commercialization, and potential sublicensing of

VXM01, its Phase 3-ready oral immunotherapy targeting VEGFR-2.

The Agreement builds on the previously disclosed binding term sheet

and establishes a structured framework to advance VXM01, with alignment across OSRH, its largest shareholder BCME, and public shareholders.

"This agreement establishes a clear, accountable framework for

the development of VXM01," said Peter Hwang, CEO of OSRH. "It ensures OSR Holdings shareholders participate directly in value

creation, while BCME remains accountable for its financial commitments."

Transaction Overview

BCME is the Company's largest shareholder. Accordingly, the Agreement

constitutes a related party transaction and was approved by the Board, including independent directors, following consideration of an

independent fairness opinion provided by Avance Life Sciences.

Taken together, these economics position OSRH to capture the long-term

value created through VXM01's development and commercialization.

Alignment Through Equity Pledge

Under a separate Pledge Agreement, BCME and affiliates have pledged

their entire unencumbered shareholding in OSRH, representing approximately 29.7% as of the signing date, as collateral for the performance

of milestone payment obligations of up to $815 million. This structure is designed to:

"The decision by BCME to pledge its entire stake as collateral reflects strong conviction in the clinical and commercial potential

of VXM01," said Tim Smith, Head of Investor Relations. "It aligns all shareholders around advancing this program toward commercialization

and delivering meaningful new treatment options to patients."

BCME will actively support development of VXM01 and at the same time

engage leading global pharmaceutical partners to secure a sublicensing transaction. With economic returns dependent on downstream monetization

and its entire OSRH stake pledged as collateral, BCME is structurally incentivized to advance VXM01 and execute a competitive partnering

process focused on maximizing value for OSRH shareholders.

Additional Value Mechanism: Put Option

The Agreement also includes a put option under which OSRH may require

BCME to purchase up to $15 million of OSRH common stock at a price of $10.00 per share, exercisable no earlier than six months following

the effective date. This feature provides additional capital flexibility and further underscores BCME's long-term commitment to

VXM01 is a clinical-stage oral immunotherapy targeting VEGFR-2, designed

to induce a targeted immune response against tumor vasculature and modulate the tumor microenvironment. The program has demonstrated encouraging

clinical activity and immune activation in studies in glioblastoma and pancreatic cancer,

two of the most aggressive and treatment-resistant solid tumors. VXM01 is being developed by Vaximm

AG, a wholly owned subsidiary of OSR Holdings.

BCM Europe AG is a Switzerland-based life sciences investment entity

and the largest shareholder of OSR Holdings.

OSR Holdings, Inc. (NASDAQ:OSRH) is a global healthcare holding company

dedicated to advancing biomedical innovations in health and wellness. Through its subsidiaries, OSR Holdings engages in immuno-oncology,

regenerative biologics, and medical device technologies to improve health outcomes worldwide. Learn more at www.OSR-Holdings.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements

regarding expected development, milestone payments, sublicensing activities, and the potential benefits of the Agreement. These statements

are subject to risks and uncertainties, including clinical, regulatory, and market risks, and actual results may differ materially. OSR

Holdings undertakes no obligation to update forward-looking statements except as required by law.